Minister of State for Petroleum Resources Explains Fuel Scarcity in Nigeria

Updated Thursday 7 April 2016 10:34

Ibe Kachikwu Blames Lack of Forex, pipeline vandalism, subsidy payments as reasons for fuel scarcity

Minister of State for Petroleum Resources Ibe Kachikwu explained in a video he posted on his Facebook page yesterday some reasons why Nigerians are queuing up for petrol, and these reasons are not what an ordinary man can solve or is to be blamed for.

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Ibe Kachikwu Blames Lack of Forex, pipeline vandalism, subsidy payments as reasons for fuel scarcity

For example, lack of Forex will be solved by the CBN, and Buhari's policy might partly be blamed for that. Pipeline vandalism? Nigeria has to protect its greatest assets by providing maximum security. As per subsidy payments, the government is to blame. So I wonder what message he was trying to send when he posted the video.

"First on resumption in August, we had a very major problem in our hand because subsidies of N500-N600 billion hadn't been paid for over a one year period of time. and so those who were importing had began to very quietly reduce the level of importation that they had and although I struggled very hard and got the Assembly approval and the President's approval to pay a good portion of that subsidy sometime in November, by then it was too late because although they got the money, they didn't have access to foreign exchange and so the critical reason why we have this supply gap today is that although NNPC has its own 445,000 barrels allocation of crude which is meant to meet 50% of your the country's delivery, the Individuals who should provide the remaining 50% are not bringing any product"he said

He identified incessant pipeline vandalization as a major factor responsible for the short fall in fuel supply

"The second problem is pipeline vandlization. If you look at the statistics of this year versus last year, we have had almost two times the number of pipeline disruptions that we have had over the last 2-3 years."

According to Kachikwu, no matter the transformation agenda of the government, issues of fuel scarcity have the tendency to bring down the polity and cause mayhem

"I have had to box my way to the CBN to get a bit of Foreign exchange because we provide a bulk of this foreign exchange and we should have a bit of it to help stabilize the situation because fuel queue, do not make any mistake about it, it doesn't matter what we achieve in our transformation agenda, is the single most difficult item which if not solved can bring down the polity and can create a mayhem here"he said.

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