On Wednesday, 8th February 2023, the federal government blamed the current high cost of petroleum products in parts of the country on marketers engaging in profiteering.
The Minister of State for Petroleum Resources, Timipre Sylva, stated this while briefing correspondents on the outcome of the Federal Executive Council (FEC) presided over by President Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.
He said the ministry had given necessary directives to end the unwholesome act, which had caused huge hikes in product prices from one part of the country to another.
Sylva added that it appeared that the directives had not been complied with, promising to find out why things have not improved.
The Minister, who observed that petroleum products are now available in more quantity in the country, also blamed its scarcity on factors that he said are not under the control of the Ministry.
He pointed out that there are bottlenecks in supply issues, which the government is currently working to resolve.
On the coming elections, the Minister noted that the Nigerian National Petroleum Company Limited (NNPCL) has assured the Independent National Electoral Commission (INEC) that petroleum products will be available during the exercise.
He announced that FEC approved the award of a contract for the construction of the Oloibiri Oil Museum and Research Centre to Messrs Julius Berger Plc, at the sum of N117 billion, with a completion period of 30 months.
More to details to come later….