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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