Hoarding of Fuel a Problem for Nigeria’s Federal Government and the NNPC

fuel_scarcity_nigeriaAttempts to stop the longtime-prevailing fuel crisis in Nigeria by the Nigerian National Petroleum Corporation, NNPC, have not amounted to much results due to the hoarding of the commodity by some retailers to inflate fuel prices at the pump across the country.

NNPC expressed that the ongoing national scarcity of petroleum is not as a result of the shortage of oil pumped to the country, but retailers contribute exorbitantly to the problem in a struggle to make more profit selfishly without considering the impact on the country.

Minister of State for Petroleum, Mr. Ibe Kachikwu representing the regulating body from the Department of Petroleum Resources, DPR, unsealed many fueling stations caught in the act of hoarding the commodity and giving it to the masses at false costs.

Meanwhile, a statement from the office of The Minister for Information and Culture, Alhaji Lai Mohammed reads that the issue of the fuel scarcity will end soon.

According to the minister, “the Federal Government has approved the sum of N521 billion to cover the importation of fuel for the remaining days of the year as part of a supplementary budget”.