Minister of State for
Petroleum Resources
Dr. Emmanuel Ibe
Kachikwu, yesterday
said fuel queue will be
over in Abuja and
Lagos this week.

He projected that
queues in Kano, Katsina, Sokoto and Port Harcourt and other states will dissipate
subsequently.

The minister also
hinted of a price
adjustment next month.

He told officials of
the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja that the ministry will take the right decisions however hard they might be. He added that the government will prevent the return of the subsidy regime.

He said: “Today, we
have the fuel queues
and it is completely a
nightmare for me.

The reality is that I
am hurt, I am very
emotional about my
job. And there isn’t
still much. We just
need to take the
right policies as hard
as they are and as
difficult as they are
to ensure we do not
return to the policy of
subsidy.

“And hopefully, tomorrow/Thursday, the fuel queues in Abuja must be over and
thereafter Kano,
Katsina , Sokoto, Port
Harcourt and other
states.”

He added that there
is price modulation
that made government to save a lot of money in the first quarter which it will now use to fund the present excess.

“In May, there will be
a slight adjustment
to match the current
trend.”

He explained that his
major concern is not
only the ongoing fuel
queues but how to
avoid a re-occurrence.

According to him, the
Federal Government
needs to build strategic fuel reserves that it has not done in the last
20 years.

Kachikwu said to avoid the reoccurrence,
government needs to
build strategic reserves for it to be able to respond to fuel shortage for six
to nine days.

He said: “We need to
find the allocation of
the resources to be
able to complement
the majors to be able
to bring in products.

But that is not a
futuristic long term
solution and there is
no better way than
to steer to the path
of privatization. And
it is not necessarily
synonymous to
increase in price. “

SOURCE: https://uzopedia./2016/04/06/fuel-queues-end-by-weekend-says-kachikwu/

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