Alison-Madueke Blames Scarcity Of Petrol On Hoarding


Says No Plans TO Increase Price Of Petrol HOUSTON, TX, March 04, (THEWILL) - Nigeria's Minister of Petroleum Resources, Mrs.

Diezani Alison-Madueke has blamed the unavailability of petrol (PMS) nationwide to the handiwork of marketers who are deliberately hoarding the product on the false premise that the federal government was on the verge of increasing the official pump price of the product above the current N97 per litre tag.

Filing stations have been hit with long queues for petrol as frustrated end users struggle to buy to power vehicles and small power plants.

Some desperate users have reportedly being buying from roadside vendors popularly called black market dealers for as high as N120 per litre.

Alison-Madueke, who spoke to THEWILL on the sideline at the IHS 2014 CERAWEEK holding at the Hilton Americas in Houston, Texas, USA, expressed surprise at the continued unavailability of the product nationwide, saying the NNPC had just released millions of litres from its strategic reserve to markers to distribute to pump stations nationwide.

The Minister further said the NNPC has intensified its monitoring efforts to ensure that the induced scarcity is eliminated as soon as possible, adding that normalcy should return within a couple of days.