Nigeria Lingering Fuel scarcity may persist till next two months- Ibe Kachikwu

Nigeria Lingering Fuel scarcity may  persist till next two months- Ibe Kachikwu
Minister of State for
Petroleum Resources, Ibe Kachikwu, today said the lingering fuel scarcity may
persist for more months as oil produced in the refineries would not be sold but
kept in a “strategic reserve”. Kachikwu said this while speaking to newsmen
after a meeting with President Buhari, members of the National Union of
Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior
Staff Association of Nigeria (PENGASSAN) at the state house Abuja.

“One of the trainings
I did not receive is that of a magician, but I am working very hard to ensure
some of these issues go away. And let’s be honest, for the five or six months
we have been here, NNPC has moved from a 50 per cent importer of products to
basically a 100 per cent importer. And the 445,000 barrels that were allocated
was to cover between 50 and 55 percent importation. So it is quite frankly
sheer magic that we even have the amount of product at the stations. We are
looking to see how to get foreign exchange input. The president and I discussed
extensively on how to get more crude directed at importation. His Excellency
will rather have less crude but have individuals in the society suffer less
with inconveniences than have more crude and have them continue to suffer. So
we are going to put a new model to enable us increase the pace and actually get
(oil) majors as part of the crew of those to bring in more products so that the
NNPC will sort of go back to the capacity of what it used to do and the majors
will take over the balance of importation. So over the next two months, we
should see quite frankly a complete elimination of this. Our strategy is that whatever
is produced in the refineries will not go for sale, we are going to keep them
in strategic reserve. Because the key problem here is that there is no reserve.
Any time there is a gap in supply, it goes off. So we are going to dedicate the
next couple of months to moving all the products that we produce to strategic
reserve so that we can pile up reserves in the nation and that will push up the
reserves in the nation. Believe me, this is giving me and my team sleepless
nights and we are working on it and we are committed to making this go away,
Nigerians should please bear with us”he said.
“They are agonized
over employment misfortune in the part emerging from the position of majors,
who feel the economy is giving unpleasant closures of the sticks and after that
attempt to whittle down staff. Thus we will be working with the oil majors to
guarantee that we don’t experience the sort of occupation misfortune that we
are hearing can possibly happen in the division.” 
The President, he said,
additionally asked the unions to be operators of progress inside of the
territories they work. 
“A ton of these issues
that are on the table were without a doubt there when we came and we are doing
the best our to take a shot at them. Be that as it may, we are hoping to team
up, those were the certifications.” 
National President of Nigeria
Union of Petroleum and Natural Gas (NUPENG) Igwe Achese said that the union was
fulfilled by thoughts at the meeting. 
He said: “We had a
fruitful meeting, very intriguing regarding the enthusiastic connection of Mr.
President on the issue of oil and gas division and the difficulties we are
“We tabled the issue
of fuel lack, the fast entry of the PIB and to perceive how the part will skip
back monetarily. 
“Obviously, we talked
more on debasement in the oil and gas division, item assignments. Mr. President
guaranteed us that NUPENG and PENGASSAN (Petroleum and Natural Gas Senior Staff
Association of Nigeria) will keep on being a piece of the rebuilding he will
make, and guarantee shortage is turned around.” 
President of PENGASSAN
Comrade Olabode Francis Johnson said the President was candidly connected to
the oil division and needed everything in NNPC to take after due
He said: “We had an
effective meeting, and one of the highlights was the point at which he said he
made the NNPC and he is candidly connected to it and that everything going to
happen in NNPC must take after due procedure.” 


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