Minister of State for Petroleum Resources, Heineken Lokpobiri, reassured Nigerians on Thursday that despite the ongoing scarcity and price hike of petrol, there is an adequate supply of the product in the country.
Speaking after a meeting with Vice President Kashim Shettima at the Presidential Villa in Abuja, Lokpobiri assured that the scarcity would ease before the weekend, with petrol being available across the nation.
He emphasized that once there is adequate availability, the price would stabilize, though he acknowledged that prices could vary in different locations.
Lokpobiri reiterated that the sector is deregulated, meaning the government is not involved in setting fuel prices. Instead, he expressed confidence that market forces would eventually stabilize the prices as supply improves.
The minister’s meeting with the Vice President, which also included NNPCL’s Group Managing Director, Mele Kyari, and National Security Adviser, Nuhu Ribadu, focused on addressing the recent hike in fuel prices.
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