As Nigeria continues to endure a persistent fuel crisis that has gripped the nation since July, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has sought to reassure citizens with a promise of imminent relief.

Addressing journalists on Thursday, September 5, 2024, Lokpobiri acknowledged the hardships faced by Nigerians due to fuel scarcity and urged against panic buying.

He emphasized that the government, despite recent price hikes, does not control petrol prices as the sector remains deregulated.

“The government is not fixing prices.”

” This sector is deregulated,” Lokpobiri stated firmly.

“We believe that with the availability of products, the price will stabilize.”

The Minister’s remarks come in the wake of Nigeria National Petroleum Corporation Limited (NNPCL) admitting to a $6.8 billion debt to petrol marketers, which has exacerbated supply disruptions and led to a surge in petrol prices to ₦897 per litre.

Despite the commencement of petrol production by the Dangote Refinery, announced recently, long queues persist at fuel stations nationwide.

Many had hoped the refinery’s operations would alleviate the crisis overnight, but the reality has proven otherwise.

“We believe that between now and the weekend, there will be availability of products across the length and breadth of the country,” Lokpobiri assured.

He noted that while prices may vary regionally, increased product availability should stabilize costs.

In response to public outcry over the price hike, various Nigerian organizations, including the Nigerian Bar Association (NBA) and the Nigeria Labour Congress (NLC), have called for immediate government intervention to reverse the pump price increase.

“The NBA expresses its profound concern over the recent increase in the pump price of fuel,” stated Mazi Afam Osigwe, President of the NBA.

“This development could worsen the hardship faced by citizens.”

Similarly, NLC President Joe Ajaero described the price hike as “traumatic and nightmarish,” urging swift action to alleviate the burden on Nigerians already grappling with inflation, unemployment, and electricity tariff hikes.

As Nigerians await the fulfillment of Lokpobiri’s promise of increased petrol availability, the nation remains hopeful that relief from the ongoing fuel crisis is indeed on the horizon.