Osinbajo speaks on ‘plan to increase fuel price’, gives reasons for scarcity
The Vice President, Prof. Yemi Osinbajo on
Monday cleared the air on the reports making the
rounds about increment of pump price of Premium
Motor Spirit (petrol).
Osinbajo said the Federal Government had no plan
to increase fuel prices.
The Vice President also pointed out that panic
buying and hoarding of the product was
responsible for the hard time being faced by
Nigerians.
Addressing reporters in Lagos after assessment
of the fuel situation, he said, “We are certainly not
expecting to increase oil (fuel ) prices at all; the
government has absolutely no intention of
increasing fuel prices and that’s it.”
He said the present administration was working
round the clock to end the fuel crisis as soon as
possible.
According to him, one of the most important
objectives of the administration was to ensure that
the average citizen was not put through the pain
of an increase in fuel price.
He added, “We have been here holding a meeting
with major oil marketers and as you see everyone
is at work trying to ensure that the petrol queues
are cleared.
“We are trying to look at some of the issues and
what needs to be done to ensure that things move
very quickly.
“Just yesterday, Mr. President tried to see how
exactly he could really work on the problems that
we are experiencing and how to very quickly
clear up the queues and ensure that everyone is
able to have a happy holiday; that’s exactly why
we are here today.
“The GMD of the NNPC is up in Abuja and I ’m
here with the minister (of State for Petroleum
Resources) trying to take a look at what the
problems of the marketers may be and also what
other issues there may be getting the products to
petrol stations across the country.
.
“We had a very good meeting and we hope that in
the next couple of days , we will be able to resolve
the petrol queues and l hope this rather sad
episode come to an end as quickly as possible.”
Osinbajo identified one of the reasons behind the
disruptions in fuel distribution at the end of the
year to what he called the winter phenomenon.
He said, “So clearly, what has happened here is
that on account of some of the short deliveries
that we have experienced, panic buying and
hoardings in different places started.
“So, those are largely the issues. So we are also
trying to ensure that these sorts of disruptions
won’t happen in the future and that’s one of the
reasons why we are spending a bit of time to look
at some of the issues.”
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