Views: 183 Posts: 0 Started By: jimoh kehinde j Last Poster: jimoh kehinde j Last Post Date: Mar 24, 2016
March 24, 2016 ( Post 1 )

The Minister of State for Petroleum, Mr. Ibe Kachikwu has
dashed the hopes of Nigerians who are wondering when fuel
scarcity will stop, stating that the current queues at gas stations
would persist till late May.

The minister who doubles as the Group Managing Director,
GMD of the Nigerian National Petroleum Cooperation, NNPC
added that he was not a magician to make the queues disappear
overnight.

According to him, it was even a “magic” that the stations were
still getting volume of products they dispense to the public,
judging from the prevailing circumstances at NNPC.

The Minister also revealed NNPC’s import rates have moved
form 50 percent to all- time 100 percent, saying that the 445
barrels allocated to crude swap now service 50 to 55 percent
importation of refined product.

But giving a glimpse of hope on how to achieve lasting solution
to the product scarcity, Kachikwu stated that government was
working to beef up the reserves.

He stated that the when the refineries come on full stream,
locally refined products would be left unsold in the reservoir to
boost supply and availability of the products.
The minister was fielding questions with the State House
Correspondents after leading officials of Nigeria Union of
Petroleum and Natural Gas (NUPENG) and Petroleum and
Natural Gas Senior Staff Association of Nigeria (PENGASSAN)
to a meeting with president Mohammadu Buhari at the
presidential villa, Abuja on Wednesday on when the queues at
the gas stations would disappear.

He said: “One of the trainings I did not receive is that of a
magician but I am working very hard to ensure some of these
issues go away.

And let’s be honest, for the five, six months we
have been here, NNPC has moved from a 50 percent importer of
products to basically a 100 percent importer. And the 445
barrels that were allocated was to cover between 50 and 55
percent importation.

“So, it is quite frankly sheer magic that we even have the
amount of products at the stations. We are looking to see how to
get foreign exchange imput. The president and I discussed
extensively on how to get more crude directed at importation.

His excellency will rather have less crude but have individuals
in the society suffer less with inconveniences than have more
crude and have them continue to suffer.


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