The federal government says Nigeria has more than enough fuel to meet the demands and daily consumption of the populace.
It disclosed that the country has fuel of over 1.6 billion litres of sufficiency
The federal government, however, blamed cross-border smugglers for the perennial nationwide fuel scarcity.
It made this known in a statement released on Friday by the Nigerian Midstream and Downstream Petroleum Regulatory Commission, NMDPRA Corporation Communications department.
“The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA wishes to reassure all Nigerians that there is a PMS sufficiency of over 1.6 billion litres as of 26th January 2023, both on land and marine.
“The current distribution hitch is heightened by activities of cross-border smugglers, who divert PMS meant for the Nigerian market to neighboring countries where PMS prices are significantly higher than Nigeria’s regulated price. We are engaging and collaborating with Nigeria Customs Services to address this issue”, the statement contained.
To solve the lingering fuel scarcity, the Commission said it would apply modest adjustments in the cost of product transportation to cater to the impact of high AGO prices on transporters while making special diesel provisions to marketers at a reduced price.
It added that it would ensure the automation of products sales interface, the Emplacement of a monitoring system in collaboration with government security agencies for distribution to retail outlets, extended operating hours at the loading and depots and some selected filling stations; rehabilitation of critical fuel distribution road network through the federal government’s tax credit scheme by the NNPCL; regular stakeholders’ engagement, among others.