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Don't panic buy petrol!

26 March 2014, 13:04

Abuja - The Executive Secretary, Petroleum Products Pricing and Regulatory Agency (PPPRA), Ahmed Farouk, has urged Nigerians to stop panic buying of petrol.

He announced that more than nine vessels are currently discharging the product across the country.

Farouk, who made this known on Tuesday in Abuja, when he appeared before the Senate Committee on Petroleum (Downstream), said that about 200 million litres of the product would soon be released into the market.

He, therefore, urged Nigerians to remain calm adding that there was adequate supply of petroleum product at depots across the country.

"As it is today, from our report, we have over nine vessels currently engaged in discharging products in various depots across the country from Calabar to Oghara.

“We have Lissa depot which is discharging for Oando.

"We have Atlas Cove vessels discharging for PPMC. We have vessels discharging in Apapa. So, all in all, we have over 200 million litres being discharged by various vessels currently as at today.

"So, there is no need for any panic because we have the product there. The general public should be calm and go about their normal businesses.

"In addition to the product, that we already have in tanks and the vessels that are also waiting to discharge.”

He admitted that the delay in the payment of oil marketers was responsible for the initial fuel crisis but explained all outstanding debts had been settled by the Nigerian National Petroleum Corporation and the Federal Ministry of Finance.

According to him, all pending payments due to oil marketers have been paid as at last week, assuring that Nigerians would not experience scarcity again.

A member of the Senate Committee on Petroleum (downstream), Danjuma Goje, decried the inability of the authorities to resolve the problem surrounding the importation of petroleum products into the country.

The development, he said, brought unnecessary suffering on the people.

"I will advise the Ministry of Finance or the NNPC or whatever agency is responsible for paying the importers, to do their work promptly so that we don't experience this kind of fuel scarcity again,” he said.

The Chairman of the Committee, Magnus Abe, said that considering the assurances given by the PPPRA boss, the country had no cause to witness another fuel scarcity again.

"So, we can take your word for it that products are available and that there is no need for the public to panic.

"We need to confirm from PPMC exactly what is being done to ensure that these products are effectively distributed across the country," he said.

-    NAN

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