‘No plans to increase pump price of petrol in 2018’


The Vice-President, Prof. Yemi Osinbajo, on Monday restated that the Federal Government had no plan to increase the pump price of petrol in 2018.

Osinbajo gave the assurance during his visit to fuel depots in Lagos where he monitored the loading of trucks to ensure a steady supply of petrol to designated filling stations.

The News Agency of Nigeria (NAN) reports that Osinbajo visited some major fuel depot terminals and stakeholders in Apapa and other parts of Lagos on Christmas Day.

According to the Vice President, the fuel scarcity facing the country is as a result of shortage of supply to depots across the country.

“The President is very much concerned about Nigerians and how we can quickly end the fuel scarcity crisis in the country.

“The fuel crisis presently confronting the country is as a result of shortage of supply of fuel to depots across the country.

“We hope that in the next couple of days, we would be able to end the fuel queues,” Osinbajo said.

He said that any marketer who hoarded petroleum products for the purpose of making extra profit would be dealt with by the enforcement agency saddled with the responsibility of regulating the sector.

Earlier at the stakeholders interaction meeting, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said that the long queues would be over by Wednesday.

Kachikwu, who noted that over 150 trucks were supplying fuel daily, added that there had been series of meetings and consultations with the oil marketers.

He said that he would meet with the Group Managing Director of NNPC, Dr Maikanti Baru, to put together structures and additional plans to end the fuel shortage currently facing the country.