Baru Speaks: Why We Subsidise Petrol, Orders Confiscation Of Fuel Above N145

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Baru Speaks: Why We Subsidise Petrol, Orders Confiscation Of Fuel Above N145

While many Nigerians planned to enjoy the Christmas and New Year holiday, many could not even attempt traveling to their various destinations due to the hike of fuel prices that has made commercial transporters to also increased t-fare 4 times of it regular price. Many motorists are stranded because even with your money, you can hardly get fuel because many of this fuelling stations may either want to sell for black market patronizers though of the additional fee they get, and some have however decided not to sell. But if insist to, it’s beyond the normal price of 145 per litre. But here is the good news as you read below ↓

The Group Managing Director (GMD ) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, yesterday said the corporation was subsidising fuel because government was not favourably disposed to having the pump price exceed the N145 per litre. We have also ensure those selling fuel beyond it normal N145 per litre are confiscated and given free to the public.

Fielding questions from State House Correspondents after a Juma’ at prayer session at the Aso Villa Mosque, Baru said President Muhammadu Buhari has directed that all parameters be maintained to ensure that the pump price does not go beyond the approved N 145 per litre.

“However , Mr. President has directed that we should maintain all the parameters to ensure that it is sold at N145 per litre. And that is why we are selling at depot at N 133. 28. ”

He explained that government’s effort has normalized the product’ s supply in the country, just as he noted that the corporation had already tamed the scarcity monster, attributing the scarcity experienced by Nigerians to the activities of marketers who, he said , wanted to inflict harm and pains on fellow citizens by hoarding products, diverting them and in some cases even smuggling products out of the country .

He said : “ I am happy to report that we have tamed the monster that reared its head as a result of the rumoured price increase about three weeks ago.”

“At the beginning , I did address the press, telling the world that we have sufficient products that will last us 30 days through the New Year into January, but the marketers wanted to inflict harm and pains on fellow citizens.“ This has been tamed by the actions we took and I personally led the war around Abuja and other teams led the war in Lagos and other parts of the country.

“As of this morning , I have gone round the Abuja metropolis and I have seen that the queues have reduced significantly to almost normal level and few motorists that I heard speaking on morning programmes concerning what I have seen said they had not spent up to 30 minutes to fuel their car.”

“So, the monster has been tamed in Lagos, the situation has been brought into normalcy, as far as two days ago , and we are also getting the same thing in all other cities .”

He continued: “I promise that we have sufficient products that will last us for the next 30 days and we keep bringing in 50 per cent over and above our normal consumption into the country . And vessels have been lined up.”

“At the moment , I have eight vessels discharging products at various ports around the country. “So, Nigerians should enjoy the New Year and Mr.President’s directive and guidance, which has been very helpful, has been executed and normalcy has returned.

“Those marketers that have hidden products in odd locations better bring them out and sell to the public at N145 per litre , maximum. If NNPC sold it to them at N133.28, they have sufficient margin within that ambit to be able to supply and sell to the public at maximum N145 per litre .If you go above that, the regulators, DPR and PPPRA, with the support of law enforcement agencies, particularly the civil defence, will make sure the products are confiscated and given free to the public.”

“This is the directive that we are working on from Mr. President and is being executed to the letter. Bring them out and sell these products. We don’ t have any shortage and we are making massive loadings he stated.

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