- Nigeria now has 1.9 billion litres of petrol in stock according to the Minister of State for Petroleum Resources, Mr Timipre Sylva
- The minister claimed that the 1.9 billion litres of petrol in stock is capable of lasting the country for 32 days
- Sylva made this known in Abuja while updating the Federal Executive Council in a session presided over by Vice President Yemi Osinbajo
Timipre Sylva, the minister of State for Petroleum Resources has revealed that Nigeria now has 1.9 billion litres of petrol in stock.
According to him, this is capable of lasting the country for 32 days.
The minister made this known in Abuja while updating the Federal Executive Council in a session presided over by Vice President Yemi Osinbajo, Punch Newspaper reports.
He was accompanied to the FEC session by the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari.
Sylva Explains why International oil companies Leaving Nigeria is big trouble For federal government finances
The Senior Special Assistant to the President, Office of the Vice President, Mr Laolu Akande, made this known after the meeting.
“There’s a 24-hour loading that is going on at all depots working with the Directorate of State Service and the Independent Petroleum Marketers Association of Nigeria to ensure that the situation improves significantly.”
Fuel scarcity: Motorcyclists, black marketers employ new tricks to frustrate govt effort
Meanwhile, Legit.ng had reported that a new trick has been employed by motorists, black marketers to frustrate the effort of the Nigerian government towards ending the perennial nationwide fuel scarcity, Legit.ng reports.
Recalled Nigerians are groaning daily following the continuous scarcity of Premium Motor Spirit, also known as petrol. In Abuja, the nation’s capital, car owners mostly spend a whole night at filling stations to get the product. Yet, motorists and black market operators have employed a new way to get the product without hassle.
Legit.ng gathered that motorcyclists, popularly called okada, have devised ways to buy fuel from filling stations in most of the satellite towns in Abuja in collaboration with the black marketers at the nation’s capital. Findings reveal that one motorcyclist buys about 60 to 70 litres a day.
Nigerian government plots against black marketers
Recall that the federal government had planned to clamp down on black marketers of petroleum products soon, even as it tackles the scarcity of the product headlong.
A source in the midstream and downstream regulatory authority had told Legit.ng that the activities of the black marketers were worrisome. If serious actions and measures are not taken, scarcity won’t disappear as expected.
The source had warned about their activities in Abuja, disclosing that a massive campaign had been launched against those selling along the streets and on highways.