Nigeria’s Petrol Scarcity Worsens as NNPC Announces Fuel Price Hike, Govt Reacts
In a recent update, the Nigerian National Petroleum Company Limited (NNPC) has revealed that it has achieved a significant boost in crude oil and gas production. According to the company, production has increased to 1.8 million barrels per day and 7.4 standard cubic feet per day respectively.
At a press briefing, the Group Chief Executive Officer, Mele Kyari, praised the Production War Room Team for their outstanding efforts in driving production recovery and exceeding expectations. He emphasized that the team has made tremendous progress in production, surpassing targets and meeting the demands of stakeholders.
A major highlight of the recent developments is the signing of a Gas Sale and Purchase Agreement between the Nigerian National Petroleum Company Gas Marketing Limited (NGML) and Dangote Petroleum Refinery and Petrochemicals. The agreement aims to secure a steady supply of natural gas to the Dangote Refinery for power generation and as a feedstock.
Meanwhile, the Ogun State Government has responded to allegations of harassment and intimidation made by the Independent Petroleum Marketers Association of Nigeria (IPMAN). The government has explained that the task force established to address fuel meter tampering and other sharp practices is a proactive measure aimed at regulating the petroleum industry and ensuring fair practices among operators.
According to the government, the task force discovered instances of tampering with dispensers at certain filling stations, resulting in financial losses for consumers. As an example, the commissioner for transportation pointed out that Bugatee Filling Station in Idi-Aba was found to have a shortage of 0.71 litres on every 10-litre purchase, amounting to a loss of about ₦700.
