The Senate in Nigeria has directed its Committee on Petroleum Downstream to urgently examine all the issues responsible for the current scarcity of petroleum products and find lasting solutions.
The federal lawmakers at plenary on Tuesday bemoaned the persistent scarcity of Premium Motor Spirit.
Lawmakers also expressed concerns that the scarcity of fuel was creating untold hardships for Nigerians who buy petrol products at exorbitant prices
For some time now, endless queues at petrol service stations have become a constant feature.
Before the situation became dire, the Nigerian National Petroleum Corporation (NNPC) and the Pipelines and Product Marketing Company assured Nigerians that there was enough petrol to sustain the country’s 40 million litres daily sufficiency.
No Cause For Panic Buying
The corporation said there was no cause for panic buying, as the available Premium Motor Spirit would last until November supplies were made. According to the NNPC, the expected imports will last until December.
But this claims were defiled by the persistent scarcity that had become very glaring across the oil-rich nation, with long queues seen at different service stations.
The situation has resulted in some service station making extra profit, as they sell Premium Motor Spirit above the official pump price of 87 Naira per litre.
Some lawmakers called for stiffer punishment for petroleum marketers who hoard petroleum products to make more profit.
The Senate urged the NNPC and other stakeholders to continue with the current push to end the scarcity.
The lawmakers also agreed to work with the executive to find lasting solutions to the recurring petrol scarcity.
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