THE Group Chief Executive Officer of the Nigerian National Petroleum Company Limited – NNPCL, Mele Kyari, has expressed optimism that the fuel queues across the country will disappear in the next two days.
Kyari gave the assurance on Channels Television on Thursday.
“I don’t see it standing beyond another day or two days max,” the NNPCL boss said.
“I don’t see it (queues) actually stand beyond Saturday.”
“We have supply for the key trouble with the PMS system is supply. There are over 810 million litres of petroleum in depots, tanks and fuel stations across the country.
“So, you don’t have the problem of transferring those. That means you have supply on the ground in your house. People panic and run to fuel stations to buy. They now know that there is certainty of pricing so they have to go back.”
Kyari said that the President Bola Tinubu’s new administration has concluded an arrangement to have one of the four refineries repaired and operating at an optimal level before the end of the year.
“I’m aware that Mr president has directed some engagements and some palliatives will be put in place. I am very sure this will happen. There is an ongoing process of rehabilitation. One of them will come this year, the second one will come on stream next year and then the third will follow thereafter.
“Of course, it is very obvious that we can no longer afford subsidies. Subsidy bills have piled up. The country is not able to settle NNPC for the money we are spending on subsidies. Therefore, pricing this petroleum at the market price is the right thing to do at this point in time and I believe it would benefit the country in the long term,” he said.
