PRESS STATEMENT ON CURRENT FUEL SITUATION IN NIGERIA BY MINISTER OF STATE FOR PETROLEUM RESOURCES, IBE KACHIKWU

We have just finished a meeting of various stakeholders presided over by His Excellency, the Vice President of the Federal Republic of Nigeria.

The meeting had in attendance the Leadership of the Senate, House of Representatives, Governors Forum, and Labour Unions (NLC, TUC, NUPENG, and PENGASSAN).

The meeting reviewed:

1. The current fuel scarcity and supply difficulties in the country.

2. The exorbitant prices being paid by Nigerians for the product. These prices range on the average from N150 to N250 per litre currently.

3. The meeting also noted that the main reason for the current problem is the inability of importers of petroleum products to source foreign exchange at the official rate due to the massive decline of foreign exchange earnings of the federal government. As a result, private marketers have been unable to meet their approximate 50% portion of total national supply of PMS.

VP Osinbajo - I’ll publish my bank account before leaving office, N5, 000 monthly stipend promised poor Nigerians would soon take off

THE Nigerian Vice-President, Prof. Yemi Osinbajo says he will publish his bank details when he is leaving office.

Prof. Osinbajo said this while fielding questions from respondents at a town hall meeting convened by the United Action for Change in Lagos on Saturday.

He stated that “the policies of the government are not tainted by any hidden agenda, stressing that at the end of their tenure, President Muhammadu Buhari and himself will be ready to present their bank accounts details and assets owned, to convince Nigerians they never abused their positions to get richer.” “Anybody who can’t explain his wealth must be brought to account. Everyone who has served in public office must account for what they own. This is the change we want Nigerians to support,” he said.

SURE-P: SURE SCAM - Steam

"After 29-months of removal of the non-existing subsidy from our petroleum, neither has a block been laid for new refineries and nor has the existing ones experienced any overhauling, we still experience fuel scarcity and we are yet to feel the dividends of the non-existing subsidy removal and and until we stop to forget our pains and the inflictors, Nigeria would remain in a standstill". 

The Subsidy Reinvestment and Empowerment Programme (SURE-P) was designed to cushion the effects of the calamity and discomfort the President Jonathan administration imposed on the Nigerian masses by promising that our refineries would start to work at maximum capacity after 18-months, while the price would be reversed and petroleum would be made available at need.

In addition, Nigerians were deceived that the subsidy would be heavily invested in the construction of New refineries while the existing ones would experience a total overhauling, Construction of Roads, Organising vocational training, Provision of Mass transit buses across the country but it should interest us all that "After 29months of removal of the non-existing subsidy from our petroleum, a block is yet to be laid for a new refineries and neither has the existing ones experience any repairs or overhauling, we still experience fuel scarcity and we are yet to feel the dividends of the non-existing subsidy removal and until we stop to forget our pains and the inflictors, Nigeria would remain in a standstill.