The end to petrol queues in major cities across the country may not be in sight as a recent agreement reached by key stakeholders in the downstream
He further explained that the Central Bank of Nigeria, CBN offered to provide foreign exchange for their operational requirements but they didn’t accept because transportation Minister, Rotimi Amaechi refused to accept.
However, after an emergency meeting held in Lagos between the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, NIMASA, NPA, NNPC, Major Oil Marketers Association of Nigeria, MOMAN and Depot and Petroleum Products Marketing Association of Nigeria, DAPPMAN, all parties resolved to work in concert and remove all obstacles that had created hindrances to smooth and effective products distribution.
Both NIMASA and NPA agreed to engage their supervising ministries and the Central Bank of Nigeria, CBN, to seek ways of addressing the challenges relating to payment of levies and dues in US dollars. The communique was signed by Engr. Farouk Ahmed for NMDPRA, Clement Isong for MOMAN, Yemi Adetunji for NNPC and Olufemi Adewole for DAPPMAN.It would be recalled that depsite assurances by the Nigerian National Petroleum Corporation, NNPC, that petrol is available findings show that current situation leading to panic buying in some parts of the country may spread before Christmas and get worse if federal government fails to interven.
“It is therefore unnecessary to entertain any fear of scarcity of petrol throghout the festive season and beyond. The NNPC said it is also engaging all stakeholders to ensure smooth supply and distribution of products to every part of the country during the festive season and beyond.
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