The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has revealed that petroleum products are available in the country and would be made available by weekend.
He added that prices may vary across different locations but once the supply of products becomes consistent nationwide, the prices are expected to stabilise.
Lokpobiri was seen saying this in a video he shared via his X handle on Thursday, 5th of September, 2024, while addressing the prevailing issues of pricing and scarcity of Premium Motor Spirit (PMS), commonly called fuel.
According to him, the oil sector is deregulated and therefore the government is not responsible for fixing prices.
Lokpobiri said:
“what is important is for us to convey to Nigerians that the President is empathetic about what is going on in the country. He is concerned about the hardship of Nigerians, and that was why he directed the Vice President to call this meeting, for us to reflect on what is going on in the country.
“What is important is that products are available in the country, and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country. The price could be high in some other areas, much more higher in some other locations, and in some locations, much more than you know other areas.
“But we believe that by the time there is availability of products across the country, the price itself is stabilised.
“But what is important is that government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find it’s level. And this is important for Nigeria to know.
“The summary is that President is empathetic about what’s going on. That’s why he directed this meeting. There is enough product in the country to be able to meet the demands of Nigerians, there should be no panic buying. And we also believe that Nigerians need to know that government is not fixing prices. That is what I want to convey to Nigerians.” [CONTINUE READING HERE]>>>>
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