BREAKING: Tinubu issues fresh order to NNPCL, Oil, Gas stakeholders

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The Vice President, Kashim Shettima, has been directed by President Bola Tinubu to call a high-level meeting to discuss the problems facing the oil and gas sector, particularly the ongoing problems with pricing and scarcity.

In order to achieve this, Shettima met on Thursday at the Presidential Villa with the Minister of State for Petroleum Resources and Oil, Mr. Heineken Lokpobiri; the Executive Director of the Nigerian Mainstream, Downstream, and Petroleum Regulatory Authority, Ugbogu Ukoha; and the Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari.

In response to enquiries, Lokpobiri stated that President Tinubu is sympathetic to the challenges that Nigerians are facing and expressed concern about the changes in the energy industry.

As per Lokpobiri, the President has underscored the necessity of prompt contemplation and measures to guarantee consistency in the gasoline supply and cost.

According to him, the Vice President is leading the charge to make sure that petroleum products are available nationwide, per the President’s directive.

“This intervention is expected to address the uneven distribution of fuel, with some areas facing shortages while others experience higher prices,” he told State House reporters on Thursday.

By the end of the week, he promised Nigerians, steps are being taken to expand the country’s petroleum product supply.

He also pointed out that although prices could differ by area, the government wants to make fuel more widely available, which will eventually contribute to price stability.

But Lokpobiri made it clear that while the petroleum industry is still controlled, the federal government has no influence over fuel pricing.

As per Lokpobiri, the President has underscored the necessity of prompt contemplation and measures to guarantee consistency in the gasoline supply and cost.He stated that it is anticipated that market forces will naturally drive pricing to a more stable level as product availability increases.

“The administration remains committed to addressing the challenges and ensuring that the supply chain can meet the demands of all Nigerians in the coming days,” the Minister stated.

Currently attending the FOCAC summit in China, Tinubu is on an official trip.

Recall that on Tuesday, Nigerians awoke to the news that the price of petrol had increased, from N617 to N897 per litre.

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