Fuel crisis in Nigeria: MOMAN assures stability

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The Group Chief Executive Officer of Forte Oil Plc and Chairman of Major Oil Marketers Association of Nigeria, MOMAN Mr. Akin Akinfemiwa said that the Federal Government has provided sufficient Q2 allocations for the importation of petroleum products.

Akinfemiwa who disclosed this at an interactive session with the media in Lagos said the allocations were evenly divided between the NNPC and the petroleum marketers.

The federal government and NNPC, as well as the major marketers according to him, have put a structure that would ensure the effective distribution of these allocations to the retail outlets in place as he has enjoined consumers to visit the fuel stations any time any day.

“…We therefore advise the public to refrain from panic buying, making assurance double sure that we will continue to work hand in hand with NNPC and the federal government to keep the free flow and uninterrupted fuel supplies in Nigeria.”

Meanwhile a total of nine companies have submitted bids for the co-location of refineries with the Nigerian National Petroleum Corporation, NNPC

Revealing this in a press statement by the GGM Public Affairs, Garbadeen Muhammed, the corporation also said plans were already in top gear to increase the nation’s refining capacity from 445,000 barrels per day to 650,000.

Adding that NNPC was committed to boosting the nation’s refining capacity to put an end to perennial fuel scarcity in Nigeria.

The exercise was witnessed by representatives of the Nigerian Extractive Industry Transparency Initiative {NEITI} and the Bureau for Public Procurement, BPP.

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