{"id":201764,"date":"2022-07-07T09:58:45","date_gmt":"2022-07-07T08:58:45","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=201764"},"modified":"2022-07-07T09:58:45","modified_gmt":"2022-07-07T08:58:45","slug":"nnpc-has-good-supply-says-timipre-sylva-as-he-reveals-the-cause-of-petrol-scarcity","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/07\/07\/nnpc-has-good-supply-says-timipre-sylva-as-he-reveals-the-cause-of-petrol-scarcity\/","title":{"rendered":"&#8216;NNPC has good supply&#8217; &#8211; says Timipre Sylva as he reveals the cause of petrol scarcity"},"content":{"rendered":"<p>Minister of state for petroleum resources, Timipre Sylva has stated that the current petrol scarcity is not a supply problem but caused by marketers.<\/p>\n<p>This was made known on Wednesday by Sylva while<span data-preserver-spaces=\"true\">\u00a0speaking with journalists at the end of the federal executive council (FEC) meeting in Abuja.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the reason for the persistent long queues caused by fuel scarcity, especially in Abuja, is from marketers planning to increase the pump price.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last month, the Independent Petroleum Marketers Association of Nigeria (<a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/07\/04\/south-west-ipman-we-will-sell-petrol-at-n165-litre-if-sourced-at-official-price\/\">IPMAN<\/a>) blamed inadequate supply for scarcity in Lagos and Abuja.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFrankly, it is not a supply issue, as you can also confirm. So it\u2019s not from us. But you know, when you have an arbitrage opportunity, people will tend to take advantage of it. These are some of the fallouts of the subsidy regime,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIf you look at it, there are no queues when you leave Abuja, in most places, only in the Abuja, metropolis, you continue to have these queues. So is it that there is less supply to Abuja than to the rest of the country? It is not so. It is because if you go out of Abuja, they can probably afford to sell at higher prices, and I am sure a lot of you must be buying at higher prices, but within Abuja, because of the watchful eye of the federal government, they cannot sell at those prices. So it\u2019s not a very attractive market for them. I think these are all things that we might have to be dealing with for a while until we\u2019re able to fully deregulate.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cBut that is a problem, it\u2019s not a supply problem, the country is well supplied. NNPC has a very good supply. So it is not a problem from us, but it is the marketers. But we are engaging the marketers and will continue to engage them.\u00a0<\/span><\/p>\n<div>\n<p><span data-preserver-spaces=\"true\">\u201cBut we can\u2019t continue as a government to increase the subsidy. We cannot continue to do that.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cI don\u2019t know whether there are queues in some places in Lagos, but the queues are reported in Abuja, and in some parts of Lagos, not every part of Lagos, wherever they think they can sell at higher prices. There are no queues.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cBut wherever they cannot sell at prices higher than the recommended price there are queues. that is the situation we find ourselves in for now.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The minister, however, added that negotiations are still ongoing and things will be taken care of, adding that \u201cit is not a supply problem from the government.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Sylva also said FEC approved the award of contracts and procurement for the provision of a conference hostel facility in Yenagoa adjacent to the Nigerian content towers for the sum of N22 billion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The project was awarded to Megastar technical construction company with a construction timeframe of 24 months.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Minister of state for petroleum resources, Timipre Sylva has stated that the current petrol scarcity is not a supply problem but caused by marketers. This was made known on Wednesday by Sylva while\u00a0speaking with journalists at the end of the federal executive council (FEC) meeting in Abuja. He said the reason for the persistent long [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":95330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[12008,12030,1193,1660],"class_list":["post-201764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-fuel-scarcity","tag-ipman","tag-nnpc","tag-timipre-sylva"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>&#039;NNPC has good supply&#039; - says Timipre Sylva as he reveals the cause of petrol scarcity<\/title>\n<meta name=\"description\" content=\"Minister of state for petroleum resources, Timipre Sylva has stated that the current petrol scarcity is not a supply problem but caused by marketers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/07\/07\/nnpc-has-good-supply-says-timipre-sylva-as-he-reveals-the-cause-of-petrol-scarcity\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;NNPC has good supply&#039; - says Timipre Sylva as he reveals the cause of petrol scarcity\" \/>\n<meta property=\"og:description\" content=\"Minister of state for petroleum resources, Timipre Sylva has stated that the current petrol scarcity is not a supply problem but caused by marketers. 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