Wednesday, March 23, 2016

'Lingering fuel scarcity to persist for next two months' - Kachikwu

Minister of​ State for Petroleum Resources, Ibe Kachikwu, today said the lingering fuel scarcity may persist for two more months as oil produced in the refineries would not be sold but kept in a “strategic reserve”. Kachikwu said this while speaking to newsmen after a meeting with President Buhari, members of the National Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the state house Abuja.


“One of the training​s ​I did not receive is that of a magician, but I am working very hard to ensure some of these issues go away​. And let’s be honest, for the five or six months we have been here, NNPC has moved from a 50 per cent importer of products to basically a 100 per cent importer. And the 445​,000​ barrels that were allocated was to cover between 50 and 55 percent importation. So it ​is quite frankly sheer magic that we even have the amount of product at the stations. We are looking to see how to get foreign exchange input. The president and I discussed extensively on how to get more crude directed at importation. His Excellency will rather have less crude but have individuals in the society suffer less with inconveniences than have more crude and have them continue to suffer. So we are going to put a new model to enable us increase the pace and actually get (oil) majors as part of the crew of those to bring in more products so that the NNPC will sort of go back to the capacity of what it used to do and the majors will take over the balance of importation. So over the next two months, we should see quite frankly a complete elimination of this. Our strategy is that whatever is produced in the refineries will not go for sale, we are going to keep them in strategic reserve. Because the key problem here is that there is no reserve​.​ ​A​ny​ ​time there is a gap​ ​in​ supply​,​ it goes off. So we are going to dedicate the next couple of months to moving all the products that we produce to strategic reserve so that we can pile up reserves in the nation and that will push up the reserves in the nation. Believe me, this is giving me and my team sleepless nights and we are working on it and we are committed​ to making this go away, Nigerians should please bear with us"he said.

84 comments:

Iphie Abraham said...

Omg! 2 months? Uncle plz do something







LIB ADDICT#just passing#

Juliet Iwuno said...

Its going to be tough. Linda take note!

Eddy Ogbunambala said...

Na waoo

christiana christiana said...

Na wa ooo
So d suffering continues
Plus d fact dat der is no light
Mtchew
Dis buhari government no dey help matters
Lord we look up to u
Answer our call

#spritual

Peter Dumore said...

Hmmm... I just dey observe


Watch and download new movies on www.afrilix.com

Anonymous said...

Though he promised us that fuel scarcity would be a thing of the past by the end of 2015.....

kayode odusanya said...

I hope people will take the time to read and understand what this man is trying to do/say and not just read the heading and jump into conclusions. I totally support what he is trying to do. In the long run, it will pay off big time, cos we will have a lot of petroleum products in reserve for any unforeseen circumstances in the future. Let us suffer a little now, so that we won't have to suffer for long in the future.



Do You Have Problems Lasting Long in Bed?

Ogbukwa Blessing said...

Ok scarcity carrys on

AbokiDaWarriBoy said...

Good they are they are bein open to the citizens over the fuel scarcity and they are working towards it. It will get better!


~glo rule your world~ cos I do.

uju juliet said...

That's what they are good at, to tell us bad news, when will they tell that things are better, mtchwwwww

FRESH said...

Nigerians should learn to be patient. Times are hard I agree, but it can only get better now.I have known fuel scarcity in Nigeria since 1980.

Maryrose Clifford said...

abeg ooo, Dis pple wan kill us? two months more? d prices of goods in d market area too frightening

flexfelix said...

You and the president must have smoke weed from calabar what the fuck is next 2 months am sure this man did not mean this crap he just said

Deola Naom said...

Haaaa. . Gbese re ooo.. God help us

Anonymous said...

You people have not seen anything.2019 please vote for change.this is the beginning.hunger will strike all of u that voted for change.apc very wicked pple.no light no fuel no water in lagos state.we are watching u pple in 3D.clueless apc

Anonymous said...

So we still import fuel, what happened to the refinery they said would start work by end of June last year. Buhari and his cohorts shame on u.

onkl sam said...

Jokers everywhere!

Anonymous said...

You are complete moron!!who will fall for any well scripted vague promise again??Yoruba imbecile like u!

Oyewale Lekan said...

Reality! Do you smell truth all over this statement.

Anonymous said...

Haa!how do we believe you sir?all of ur Oga's election promises have been denied!2 months time ur Oga will say he never said so o!

Ozone Layer said...

What's the rationale? People should suffer now to enable us build strategic reserve so that in future when there is supply cut we could rely on the reserve. We are already suffering it. Why don't we build the reserve over time, say a year so we don't suffer this scarcity now.

Nkiruka Lucy said...

Nigeria shutting down gradually...

Chy said...

Even buhari don change mtsheeew!

Stanley Ejiogu said...

I wonder why Nigerians are keeping quiet ....u can't try this outside.....i lot my dam job to this administration...am so lovely this f**king change...and I pray buhari will soon be as broke as I am...

2face Right Man said...

This buhari is a useless man...the worst Nigeria PRESIDENT EVER. what is the meaning of reserve if i may ask? masses are crying and suffering..you are there saying you want reserve first before supplying shit..useless APC party and country.

twistedvirgin said...

Thank you Kayode. God bless you. 80 percent of Nigerians don't digest news all they do is rush to come nt without thinking. One wonders the use of education. God bless Nigeria

2face Right Man said...

This buhari is a useless man...the worst Nigeria PRESIDENT EVER. what is the meaning of reserve if i may ask? masses are crying and suffering..you are there saying you want reserve first before supplying shit..useless APC party and country.

Anonymous said...

Omg I regret voting for apc is this man serious?

pretty mimi said...

Lord have mervy

pretty mimi said...

Lord have mercy

Moses Asamaigor said...

I may be stupid but would it not be wiser to ration the fuel? Say 40% of all production to reserves and the remaining 60% to the masses?. That way in a maximum of 6months there will be the same amount of reserves as in if all production were geared to reserves as they are planning to do right now without the increased suffering this bad plan will bring to the people. Having reserves is great but proper planning is essential

Thomas Bryan said...

I think the first step is make the product available first befor talking about reserve. The said you stated the last time that the last fuel scarcity we faced during December was the last we will ever face? Now you want us to continue to buy fuel at 200 per lire with abeg the next two months? Oga have you ever queue in a fuel station befor? If you do you will not be talking this gabage. Give us light then for this two months. Cos majority need the fuel for generator.what a government.

Miriam Aguzie said...

O ga adikwa egwu#Lindangwanu#

Okuru Bennett said...

SOME PEOPLE ARE JUST HEARING OF STRATEGIC RESERVE FOR THE 1ST TERM!!!
Besides, in Nigeria, THE LOOTERS DON'T WANT TO HEAR OF "SAVINGS" not to talk of STRATEGY!!!
ANYTHING THAT WILL NOT ENTER THEIR POCKETS, "FORGET IT"!!!
OUR MODEL, AMERICA DOES IT OFTEN, when CRUDE OIL PRICE GOES DOWN!!!
THIS IS THE TIME TO DO IT BEFORE THE PRICE GOES UP, WHEN WE WILL ALL BE NOT SMILING BUT LAUGHING TO THE BANK.
THE ECONOMY BACK ON ITS FEET, ONCE AGAIN!!!

Chidozie Bruce said...

Fool's like kayode will be always like 2 concur wit dia lies, forgetting de made such promise via 2015 dat fuel scarcity will end in 2015 n 2016 will nt see any scarcity @all. Let's give dem 2 mnths another jombolee will also be said. I refuse 2 be fooled like kayode. Una promise us magic nw do it.

PrettyChi said...

Their headache! If they like, if they no like! E no quoncern (concern) me

CHERYL (aka FROM GLORY to GLORY) said...

More hardship, chai, but am exempted sha!

Anonymous said...

Exactly!
Kolaq

Anonymous said...

suffering and smiling is a form of hypocrisy..

Anonymous said...

This guy is either a fraud or he thinks Nigerians are fools. 445,000 barrels a day is not meant to cover 50 or 55% of domestic consumption. 210,000 barrels were dedicated under the SWAP arrangement which used to cover about 60% of local demand and other marketers make up the rest. Can he and his 'wonder team' in NNPC explain why they are getting 2 cargoes of Petrol for a cargo of crude under their direct sell and direct buy while the former corrupt SWAP arrangement gave 3 cargoes of petrol for same cargo of crude? Where is he building the strategic reserve please? In PHRC that has not produced petrol in a month? Does it make sense to build strategic reserves when you have not satisfy basic demand? These lies and deceit must stop.

Anonymous said...

I can't believe this, we are still having fuel scarcity, what ever happened to the president body language

Olakunle Oluwaseun said...

What if God comes before the planned future nko?

Hotmetal said...

Make I go store fuel for my water tank. Wicked people

Anonymous said...

It seems you are 'enlightened' enough to indentify this as a 'vague' promise. Please share your better idea or respect people's opinion! No need to display your immaturity.

Anonymous said...

No be u vote them

Anonymous said...

Its high time we outsourced this country .

Anonymous said...

Onye oshi mmuo! Deri nwamama. Since 1980! !! Like you are older than our fore fathers

Anonymous said...

Voters of change....lol. U were warned. It's just the beginning....many more years to go.

FRESH said...

Anon 10:21 pm.The country has no place for vermin like you.I feel so sorry for you & anything you represent. What a wasted generation. I hope for your

FRESH said...

Anon 10:21 pm.The country has no place for vermin like you.I feel so sorry for you & anything you represent. What a wasted generation. I hope for your sake,you are not igbo? It would be a real SHAME!

Olusola Agbaje said...

U need to go back to school and learn how to "reason".. We cannot suffer now and still suffer in d future! Some people are so biased in making disgusting comments on this blog. Y'all pray for Nigeria rather than bluffing! Let's all pray for d land we dwell in and our leaders are not left out to be prayed for too.

Nneamaka Okonkwo said...

Na die be that nah. we have suffered. #Ladyskirpo#

christiana christiana said...

My dear..i agree with u 100%


#spritual

Anonymous said...

Linda, Pls ask apc, d price of petrol is 200/ltr, is apc making more money with dis, they are d only importer 4 now, meaning they are stealing us blind. Which kind change be dis sef. Let apc come out put d price of pms at 200/ltr so all filling station can/will get it not fool dem sef say dem d vandam.rubbish

Anonymous said...

As a Soji Nigerian,iknw when u say 2 months it prolly means few months after 2months up to unlimited

Anonymous said...

You and who is "let us surfer a little " my friend u r on ur own..we won't stop calling this Govt out until demands r met..u can surfer and keep quiet alone ..na u knw..seems d river state election and pa Buhari's trips hv been more important than d hardship faced by common man..this is to mention a few of their rubbish...

Obinna Ikegwuonu said...

Ifeanyi Uba has reserve

Taiwo said...

Same Old lies...

Anonymous said...

Still in 2016......lol change. I need my rosary for this one....wow!!

Vivian Reginalds said...

Wch mumu uncle? Lol I pity nigerians
-D great anonymous now as Vivian Reginalds

Anonymous said...

U r a bigot ..can't even show urself

Anonymous said...

This is pure rubbish. Instead of eating u will starve and pile up food in your store for rainy day. Na rat go chop am na

obani ifeanyichukwu said...

Am giving out free tickets to first 50 people that will call me. a dinner concert with Buchi, Rosemary chukwu, Sarowiwa, Alincology and many other great musicians. This event takes place at Dollar point mall and event center 6th ave. By 64 road junction Festac town. Time 2pm.

shescute said...

4 years you mean?you people should just continue what you are doing useless bunch of idiots

Anonymous said...

Ogbeni Kayode, does that even make sense? It's like saying you have food and you are hungry but you decide to eat and then store the food for when you are hungry... that is mumuness

Anonymous said...

You got to be kidding, otherwise go get yourself another job
-A₦O₦YMOUS 13

Anonymous said...

Nigeria is in serious problem here. no matter what the oil cabals still call the short no matter what they think they can do.

PKE

Sir shenzy said...

Vote in the .NG brands awards, lets see which local digital businesses you like visiting www.nira.org.ng/voting/ and you could be invited for the dinner.

Jamila Shaibu said...

Hmmmmmmmm God help us

Amaefule Okwuchukwu said...

Really?I bet u in 2 months u can't get any solution..if in almost a year u and ur imbecile president can't fix a common fuel scarcity, na 2 month u go solve am..This country should simply shutdown..#freeBiafra #freeNnamdikanu..

Afeez Alade said...

Please Carry on ... my people please let suffer today then enjoy tomorrow.............longlife NIGERIA.....

Anonymous said...

Kayode, if you drive or do a transport business then you'd imagine how much loss you'd be making by spending double for the next two months on fuel.

Anonymous said...

Ermmm,while this "fuel scarcity" persists;can we please have steady light?even if na for 10hrs a day.Please give us power abeg,make heat no kill somebody.When there isn't light or fuel I have to sleep with a bucket beside my bed,I wake up almost every 10mins to wipe down with a face towel dipped in water.You people shouldn't kill somebody.If to say una even care about people,you'll flood the market with cheap solar panels so the regular man can afford it but mba y'all wanna make money ontop fuel.

Godon said...

So na so so suffer we go dey pass tru for dis regime abi? Haven't we suffered enof?

Yetty k said...

Haba why now?

Anonymous said...

my take on this is that the Idea to store up fuel is good but let them not start to say that one thing has happened or lead to another in 2 months time because we have seen kachukwu changing words from what he has said earlier. Nigerians are patiently watching and waiting with his idea. we pray it works because it will really solve our many problem with PMS product .

FRESH said...

I just bought fuel at 86.5 naira.What country are you in? People like you are the problem this country has.Empty barrels always making silly comments.

chyyy said...

Bad govt they are even proud to say it. APC is a vision less government

FRESH said...

Oh! Anonymous, faceless poster.We trust our govt

FRESH said...

Anonymous, Faceless poster,I see you prefer the subsidy you & your ogas were using to rob Nigerians blind? Shame on you!

FRESH said...

Brilliant thoughts Bro!

FRESH said...

It is you & you alone,that hunger will strike.We are moving forward. Stay there & be lamenting on behalf of your looting ogas.

FRESH said...

What do you know? I am not surprised you are igbo.Ihere anaghi eme gi na nna gi?

sheun said...

Have never seen any govt in dis country dat stick to their promise including APC. They all belong to family of lies.#lobatan#

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