Home Uncategorized Fuel Scarcity Ends As Oil Marketers Succumb To Senate Committee Pressure

Fuel Scarcity Ends As Oil Marketers Succumb To Senate Committee Pressure


Stakeholders in the oil industry, at a public hearing organised by the Joint Senate Committee on Petroleum Resources (Upstream and Downstream), on Monday has agreed to mobilise their members for the immediate distribution of fuel across the country. This intervention came just as various businesses including the banking and telecom sectors have prepared for shutdown.

Senator Magnus Abe, who read a communique duly signed by the stakeholders after the session, explained that the Finance Minister / Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, and other stakeholders who attended the meeting, unanimously agreed to the peace deal, in the interest of the nation.

He also explained that following the intervention of the Group Managing Director of the Nigerian National Petroleum Corporation, the strike embarked upon by the National Union of Petroleum and Natural Gas Workers and the Petroleum and Energy Gas Senior Staff Association of Nigeria, had been called off.

He said, “We have agreed on the following: first is that the Minister of Finance will give an undertaking to the Major Marketers and Depot Managers that the work of the committee being headed by CBN and PPPR, on the outstanding claims, would be concluded and be reflected in the hand over notes to the incoming administration.”

He said the Major Oil Marketers Association of Nigeria had agreed to begin lifting of Petroleum products nationwide within the next six hours and to also pay the National Association of Road Transport Owners, the transport cost that will be determined by them.

He also added that the Depot Managers had agreed to open all their depots nationwide so that lifting would commence and had agreed with the DPR to withdraw the operational licence of any depot which was not opened for fuel lifting.

Abe said the NNPC had directed all relevant staff working in the various depots across the country to work 24 hours including Saturday and Sunday for the next two weeks until normalcy returns to the sector.

He also said that the committee would reach out to the Lagos State Government on the agreement reached and the need for their contribution towards ensuring smooth lifting of fuel at all the depots.

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