The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Sunday assured Nigerians that there is sufficient Premium Motor Spirit (petrol) in the country. Kachikwu in an Interview with newsmen in Lagos, said that the country has gone past the era of fuel scarcity and urged motorists to desist from panic buying.
The minister noted that the scarcity being experienced is Petroleum Equalisation Fund (PEF) related distribution issues, and it will be sorted out as soon as possible..
He said presently the Nigerian National Petroleum Corporation, NNPC, has between 14 and 15 days product sufficiency based on 50 million litres daily utilisation in the country.
On queues building up in some filling stations in Lagos and Abuja, he maintained that the country is wet enough to serve the needs of motorists.
Kachikwu noted that it would had been a major issue for the country if there was insufficient product on ground but assured that NNPC would be able to resolve whatever the situation was in a few days.