BY CHIKA OKEKE, Abuja
Following the announcement of an end to subsidy regime, queues are gradually building-up in fuel stations across the nation's capital.
News Rider reports that fuel stations in Lugbe, Central Business District, Wuse, Gwarinpa, Kubwa, Maitama and other parts of Abuja are overwhelmed with long queues from motorists.
Aside the decision by the Federal Government to end fuel subsidy, the correspondent uncovered on Tuesday, May 30, that most fuel stations failed to open some entrance and exit points in their stations.
It was also gathered that though petrol sells at the government approved pump price of N185 per litre, that black marketers have trooped to different fuel stations to buy Premium Motor Spirit (PMS) and resell to gullible Nigerians at exorbitant rate.
News Rider gathered that many civil servants, traders and other government officials abandoned their official assignment and businesses in search of the 'gold'.
President Bola Ahmed Tinubu had in his inaugural speech on Monday ruled out the payment of subsidy on PMS from third quarter of 2023.
Tinubu hinted that based on the 2023 budget he inherited from the immediate past administration, that subsidy is supposed to end by June, 2023.
Currently, Nigeria spends more than $850 million monthly on fuel subsidy as revealed by the Nigerian National Petroleum Company Limited (NNPCL).
This implies that Nigeria spends at least, N18.397 billion to subsidise PMS daily due to high cost of petroleum products, moribund refineries, wobbly exchange rate, and failure to implement the Petroleum Industry Act (PIA).
Some residents that spoke to News Rider raised the alarm that the current queues would lead to loss of man-hour and subsequently damage the economy.
A civil servant in one of the Federal agencies that spoke on condition of anonymity, regretted that in less than 24 hours, fuel marketers hoarded the product in an attempt to shutdown Nigeria.
She wondered how Nigeria would advance further when some persons are bent on sabotaging government policies for their selfish interest.
The civil servant was emphatic that the consequences of the long queues would eventually trickle down to every sector of the economy and lead to loss of man-hour.
A business man, Mr Fidelis Ugah pointed out that he left his home as early as 8 am to queue at one of the NNPCL fuel stations in CBD and was yet to buy the product as at 10 am.
Though Ugah supported the removal of fuel subsidy, he pleaded with the Tinubu-led administration to use the money saved from subsidy to build functional refineries in the country.
Reacting, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) assured that it is collaborating with the NNPCL and other stakeholders for a smooth transition.
A statement by the General Manager, Corporate Communications of NMDPRA, Mr Kimchi Apollo, on Tuesday revealed that the organisation would address issues bordering on the removal of fuel subsidy.
He assured that NMDPRA is working round the clock to avoid disruptions in the supply of PMS likewise to ensure that consumers were not short-changed.
Apollo vowed that NMDPRA would meet the demands of Nigeria, adding that it had taken necessary steps to ensure that the distribution channels remained uninterrupted and fuel would be available at all filling stations nationwide.
He cautioned Nigerians against panic-buying, saying that the product would be available in all fuel stations across the country.
The spokesperson noted that contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (PIA 2021) which provided for total deregulation of the petroleum downstream sector to drive investment and growth.
He enjoined Nigerians to remain calm and resist the temptation to stockpile the product, as it poses significant safety hazard.
Apollo reassured all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for the nation.
He promised that the authority would continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector.
Comments
Post a Comment