According to the News Agency of Nigeria, the Federal Government no longer provides subsidies for Petroleum Motor Spirit, or PMS, also known as fuel.
On Monday in Abuja, Mele Kyari, the group managing director of Nigerian National Petroleum Corporation Limited, NNPCL, revealed this to State House Correspondents.
According to him, the federal government no longer provides subsidies to any individual or group for bringing petroleum products into the country, notwithstanding what has been implied on social media.
“No subsidy whatsoever. We are recovering our full cost from the products that we import. We sell to the market.
“We understand why marketers are unable to import. We hope that they begin to do so very quickly and these are some of the interventions government is making. There is no subsidy,’’ he said.
Mr. Kyari added that the recent areas of short lines seen in some states were the result of poor roads, which had forced truckers to shift the merchandise to alternate routes.
“We have seen in very few states pockets of very low queues. This is not unconnected with the road situation and that’s why we’re seeing some blockades on our roads.
“Moving the products from the southern depots into the northern part of the country takes them much longer time now than it used to be.
“They have to re-route their trucks around many locations for them to be able to reach their destinations and that created delays and some supply gaps. But, that has been filled and we do not see any of such problems again.
“Secondly, because of the full deregulation that we have in this sector, marketers are now competing amongst themselves,” he said.
The NNPCL group managing director also said that some of the queues were caused by the preference of customers to patronise filling stations that offered low prices.
