*Approves N117bn for Oloibiri oil & gas museum
The Federal Government has blamed the oil marketers’ undue profiteering tactics for the prevailing fuel scarcity that has jacked up the cost of petrol in many parts of Nigeria.
Minister of State for Petroleum Resources, Timipreye Sylva, who stated this in Abuja Wednesday, said he has consequently directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to sanction erring filling stations found to be hoarding petrol.
He spoke while fielding questions from State House correspondents at the end of the Federal Executive Council meeting presided over by President Muhammadu Buhari at the Council Chambers.
Petrol sells for between N200 and N650 for a litre of petrol in some parts of the country, above the official pump price of N195, but Sylva promised that the distribution challenge associated with the current scarcity would not hinder the conduct of the general elections starting this month by the Independent National Electoral Commission (INEC).
His words: “It is quite unfortunate, we are not happy at all about what is going on. Every hand is on the deck. Ministry of Petroleum is not in control of all the factors that lead to scarcity in the sense that there are forex issues as well and other issues.
“At the moment today, there is supply, but unfortunately, we are experiencing some bottlenecks with the distribution and movement of the product to various destinations for now.
“I want to assure you that everything is being done; the NNPC Limited, NMDPRA, the marketers, everybody’s hands is on deck to ensure that this problem is resolved and to also inform you today we had a briefing from INEC and INEC has also engaged NNPC and NNPC has assured INEC that petroleum products supply to INEC will not be a problem and so that will not likely affect the election at all.
“We have reports of profiteering by marketers, and I’ve directed NMDPRA to sanction anybody who profiteers on this kind of situation.
“I mean, we cannot stand by and watch our citizens being exploited by marketers. But of course, I’ve given that directive and I don’t know if it has not taken effect. I don’t know the details of how far that directive has been carried out. But I’m going to still further give that directive, if that is still the situation, but definitely we are not turning a blind eye at all.
“There are laws and this is a democratic system. Of course, they can’t go against the law themselves, the regulators can’t also go against the law. So it is only through the processes provided for by law that this regulations can be carried out. So, I will direct NMDPRA further to ensure that nobody profiteers on the citizens of Nigeria.”
Meanwhile, the FEC meeting approved N117 billion for the construction of the Oloibiri Oil and Gas Museum and Research Center, Bayelsa State, more than six decades after oil was discovered in commercial quantities in the town.
The minister said: ” This project has been on the drawing board for so long. The first time foundation stone was laid for this project was in the early 80s by President Shehu Shagari.
“So, this actually is a major milestone and it is expect to be a major legacy of Mr. President in the Niger Delta.”
