{"id":79860,"date":"2021-04-21T00:15:28","date_gmt":"2021-04-20T23:15:28","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=79860"},"modified":"2021-04-21T00:15:28","modified_gmt":"2021-04-20T23:15:28","slug":"petrol-queue-resurfaces-as-kyari-briefs-buhari-promise-to-end-fuel-scarcity-in-hours","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/petrol-queue-resurfaces-as-kyari-briefs-buhari-promise-to-end-fuel-scarcity-in-hours\/","title":{"rendered":"Petrol Queue Resurfaces as Kyari briefs Buhari, promise to end fuel scarcity in hours"},"content":{"rendered":"
\n
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has frowned at the re-emergence of petrol queue across the country, assuring that the situation will normalize in hours.<\/div>\n
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\nKyari gave the assurance when he addressed State House correspondents after giving an update on the petroleum sector to President Muhammadu Buhari at the presidential villa, Abuja, on Tuesday.<\/p>\n

He attributed the sudden re-emergence of the fuel queue to strike action embarked upon by the association of petrol tankers drivers.<\/p>\n

The GMD, however, revealed that following the intervention of the leadership of the NNPC, the strike had been suspended for one week and the tanker drivers had resumed lifting of petroleum products from all fuel depots across the country.<\/p>\n

He said: \u201cThese queues will go away. It\u2019s because there was an industrial action by petroleum tanker drivers against their employers, the National Association of Road Transport Owners, around their compensation package.<\/p>\n

\u201cAnd those issues were not resolved up till yesterday, until we intervened to ensure that there\u2019s an amicable settlement between the parties so that they will have peace and then normal loading operations will commence from the depots.<\/p>\n

\u201cAs I speak to you at this moment, loading has commenced in all depots in the country, dispatches of trucks are ongoing in all the depots in the country and they have called off the strike for a period of one week to enable us intervene and find a solution.<\/p>\n

\u201cSo, there\u2019s really nothing fundamental that is happening now.\u201d<\/p>\n

Kyari further stated that the petrol queues had nothing to do with the ongoing issue of petroleum subsidy.<\/p>\n

\u201cSubsidy is a policy matter. I\u2019m sure you\u2019re aware of this. There are engagements going on within the government to get the best framework for having a fully deregulated PMS market.<\/p>\n

\u201cAs this is going on, we are engaging all parties and all stakeholders as government and to make sure that at the end of the day, there\u2019s an exit that is beneficial to the ordinary man.<\/p>\n

\u201cThat is why we know we will not be able to complete that in the month of May and therefore, we declared that there will be no increase in fuel price.<\/p>\n

\u201cI have no update in hand now. This is beyond me, but we\u2019re engaging to make sure that we have the right timeline,\u2019\u2019 he added.<\/p>\n

On the impact of the rising crude oil price on the corporation, the GMD said it has both benefits and drawbacks.<\/p>\n

\u201cYou know, it works both ways. Once prices increase, your revenue also increases.<\/p>\n

\u201cSo, I don\u2019t have any numbers around it, but I also know that your obligation to the price of petroleum increases and your net revenue also increases.<\/p>\n

\u201cThere\u2019s a balancing factor. I don\u2019t think there\u2019s anything much to worry about,\u2019\u2019 he said.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has frowned at the re-emergence of petrol queue across the country, assuring that the situation will normalize…<\/p>\n","protected":false},"author":1,"featured_media":48133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-79860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nPetrol Queue Resurfaces as Kyari briefs Buhari, promise to end fuel scarcity in hours - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/petrol-queue-resurfaces-as-kyari-briefs-buhari-promise-to-end-fuel-scarcity-in-hours\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petrol Queue Resurfaces as Kyari briefs Buhari, promise to end fuel scarcity in hours - 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