The Minister of State for Petroleum Resources, Heineken Lokpobiri, has confirmed that petrol products are available in the country and will be distributed across various locations by the weekend.
He also mentioned that while fuel prices may differ depending on the region, the prices are expected to stabilise once the supply of petrol becomes consistent nationwide.
Lokpobiri shared these remarks in a video posted on his X (formerly Twitter) account on Thursday, September 5. He addressed the current challenges related to the pricing and scarcity of Premium Motor Spirit (PMS), commonly known as fuel.
He further emphasised that there is sufficient petrol in the country and assured that by the weekend, there will be a widespread availability of fuel nationwide. However, prices may vary significantly between locations. In some places, the price might be higher than in others.
Lokpobiri expressed optimism that once the supply stabilises across the country, the prices will also stabilise accordingly.
“What is important is for us to convey to Nigerians that the President is empathetic about what is going on in the country. He is concerned about the hardship of Nigerians, and that was why he directed the Vice President to call this meeting, for us to reflect on what is going on in the country.
“What is important is that products are available in the country, and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country. The price could be high in some other areas, much more higher in some other locations, and in some locations, much more than you know other areas.
“But we believe that by the time there is availability of products across the country, the price itself is stabilised,” he said.
The Minister clarified that the oil sector has been deregulated, meaning the government no longer controls the pricing of petroleum products.
“But what is important is that government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find it’s level. And this is important for Nigeria to know,” he said.
He stressed that the President is sympathetic to the challenges being faced by Nigerians. He reassured the public that there is no need for panic buying, as sufficient fuel is available to meet the nation’s demands.
“The summary is that President is empathetic about what’s going on. That’s why he directed this meeting. There is enough product in the country to be able to meet the demands of Nigerians, there should be no panic buying. And we also believe that Nigerians need to know that government is not fixing prices. That is what I want to convey to Nigerians,” he said.