NNPC says Q1 Allocation Released to Marketers, Frees Fuel from Strategic Reserves • Unleashes PPMC, DPR, PPPRA to Monitor Fuel Stations, says No Plan to Increase Fuel Price

The fuel crisis that has engulfed the nation, particularly Lagos for some time now will soon come to an end, following the release of first quarter allocation to marketers and fuel from the strategic reserves of the Nigerian National Petroleum Corporation (NNPC). Also, the state energy firm said it has unleashed other agencies to monitor fuel stations to avoid hoarding.
A source at the NNPC said, the scarcity of fuel was partly as a result of mischief on the part of some of the marketers who were hoarding fuel, and the fact that funds for the first quarter was not released early.
The source however told DataMania Consult that the funds have just been released and as such the situation will soon normalize.
The Management of the Nigerian National Petroleum Corporation, NNPC over the weekend commenced fresh measures to halt what it described as artificially induced fuel scarcity noticeable in some parts of the country particularly in Lagos and its environs. Acting Group General Manager, Group Public Affairs Division of the Corporation, Omar Farouk Ibrahim stated in a Press Release that the NNPC in conjunction with the Department of Petroleum Resources, DPR and the Petroleum Products Pricing Regulatory Agency, PPPRA will commence detailed monitoring of fuel stations in Lagos and its environs as well as any other state to checkmate the incidence of hoarding and panic buying of fuel .“We tried it in Abuja and its environs and today the effective monitoring has decimated the hitherto long fuel queues in Abuja. We are extending the extensive joint monitoring to Lagos,’’ Ibrahim said.The NNPC Spokesman stated that as the supplier of last resort the Corporation is doing everything within its mandate to alleviate the avoidable hardship caused by the fuel situation while re-iterating the fact that the Federal Government has no plan to increase the price of petrol as being speculated.“It is pertinent to state for the umpteenth time that there is no plan by the Federal Government to increase the price of petrol. Once again, we appeal to marketers to refrain from hoarding and to members of the public not to engage in panic buying. We are convinced that in the days ahead, the fuel situation will normalize as there are enough petrol to go round,’’ he said.

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