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Tinubu Tasks VP Shettima with Fixing Nigeria’s Fuel Crisis Amid Price Surge
President Bola Tinubu has tasked Vice President Kashim Shettima with leading a crucial meeting to tackle the ongoing issues in Nigeria’s oil and gas sector, particularly concerning pricing and scarcity.
This directive comes in response to recent challenges faced by the industry, including rising fuel prices and inconsistent availability.
In line with this mandate, Vice President Shettima convened a significant discussion on Thursday at the Presidential Villa.
The meeting brought together key figures, including Heineken Lokpobiri, the Minister of State for Petroleum Resources; Mele Kyari, Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL); and Ugbogu Ukoha, Executive Director of the Nigerian Mainstream, Downstream, and Petroleum Regulatory Authority.
Lokpobiri addressed reporters, confirming that President Tinubu shares concerns about the current state of the energy sector and is fully aware of the hardships Nigerians are enduring.
He emphasized that the President is calling for prompt and effective actions to stabilize fuel supply and pricing.
The Vice President’s efforts are focused on improving the distribution of petroleum products across the country, aiming to resolve the discrepancies where some regions face shortages while others encounter inflated prices.
Lokpobiri assured that measures are being implemented to enhance fuel availability nationwide, with expectations of improved accessibility by the end of the week.
While acknowledging that regional price variations might persist, Lokpobiri highlighted the government’s commitment to making fuel more accessible, which should ultimately contribute to more stable prices.
He clarified that the federal government does not control fuel prices directly, as the sector operates under market regulations.
The administration remains dedicated to resolving these challenges and ensuring a steady supply chain to meet the needs of all Nigerians shortly.
This initiative follows recent adjustments in fuel pump prices, which surged from N617 to N897 per litre.
President Tinubu is currently attending the FOCAC summit in China, focusing on international engagements as part of his official trip.
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has spoken on Nigeria’s economy, stating that the country lacks a good maintenance culture.
She said “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance.”
“We lack a maintenance culture in the country. I have to say that. I’m Nigerian, but we need that. We need better ports and digital infrastructure, and lower trade costs. Execution is what matters, and successful execution requires focus. It requires prioritisation.”
Politician and former presidential candidate Peter Obi speaks on President Bola Tinubu’s comments regarding the rising hunger and worsening economic situation in Nigeria.
It can be noted that the President recently stated that hunger has always existed in Nigeria.
Peter Obi responded “I watched with deep concern the statement made by President Bola Tinubu to the Catholic Bishops, that there has always been hunger in Nigeria, even before he was born.”
“While it is true that hunger has been a part of human life and has existed in our country for decades, such a statement appears insensitive to the plight of the millions of Nigerians who face worsening economic hardship today.”
Reports have been shared stating that the Nigerian Army has launched a new programme designed to train and improve the skills of engineers in tackling threats posed by Improvised Explosive Devices (IEDs).
The seminar is being organised by the 41 Engineer Brigade of the 1 Division Nigerian Army.
It was stated “Improvised Explosive Devices have become one of the greatest security threats confronting the Nigerian Army in ongoing counter-insurgency operations. Their widespread use has complicated military operations and humanitarian activities in conflict-affected areas.”
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