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NO MORE FUEL CRISIS AS NIGERIA IMPORTS $5.8BN WORTH OF PETROL.

AKINBILE AKINSUMBO QAMARDEEN

According to The Nigerian National Petroleum Corporation (NNPC) says it has imported 9.8 million metric tons of Premium Motor Spirit (PMS) worth $5.8 billion to combat the fuel crisis that resurfaced since late last

This was made known by the Group Managing Director of the corporation, Dr. Maikanti Baru, during a public hearing by the Senate Committee on Public Accounts today at the National Assembly Complex in Abuja.

According to the GMD, the corporation’s provision of 9.8 million metric tons of petrol so far has helped a great deal in ameliorating the suffering of Nigerians.

However, He said the corporation’s intervention became necessary following the inability of the major and independent marketers to import the product because of the high landing cost which made cost recovery and profitability difficult owing to the regulated price regime.

Sen. Matthew Uroghide, who is the chairman senate committee on public accounts noted that the public hearing was a part of the Committee’s duty to find lasting solutions to the problem of fuel scarcity in order to make life easy for all Nigerians.

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