The Minister of State Petroleum (Oil), Sen. Heineken Lokpobiri on Saturday embarked on an unscheduled visit to some petrol stations in Yenagoa, Bayelsa capital.
The random visit was to ascertain the status of petrol supply following the Federal Government’s deregulation of the downstream sector.
Among filling stations visited were Rainoil and NNPC retail outlet at Edepie. Others were Rainoil Opolo and NNPC mega filling station along Sani Abacha Express Way.
Accompanied by officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), the minister at each petrol station visited requested the pump attendants to dispense fuel to measure the actual volume being sold to the public.
Lokpobiri noted that his findings indicated that the full deregulation of petrol prices following the removal of subsidy was yielding results with product availability at festive season.
He observed that this is the second Christmas season running under the President BolaTinabu lead administration where products are available during festive season.
“You can recall that the norm have been that during festive season when there is more demand there is always product scarcity leading to price hikes
“But last year there was product availability and this year there is product availability and the prices are stabilizing,” Lokpobiri said.
He explained that now that the sector is fully deregulated, under the leadership of President Tinubu who from the very first day knew that subsidy was one of the biggest challenge we have in this country, things will get better.
According to him, the emphasis of government in the deregulation era is product availability at precise volumes.
“What we have seen in the past is that somebody is saying that he is selling a 100 litres and what you are buying is 50 litres.
“That is why without any notice when I landed, I am going from one filling station to another to ascertain the exact situation first hand with availability, prices and measurement of volume.
“You can see the price disparity some filling station are selling at ₦1,050, NNPC Mega station is selling at ₦999 other are selling for ₦1,020 that is the real essence of deregulation, “ Lokpobiri said.
The minister noted that it has always been the practice that in a deregulated scenario, the price will find its level, while the regulators ensure that products are available for the benefits of Nigerian.
“Now we have gone round and see that some filling station are dispensing within the threshold, only one or two are above the threshold.
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“And we have told them that if you are dispensing 10 litres and you are dispensing 10.35 litres which means you have exceeded the limit.
“And I have told them to adjust their pumps, I am going to be back in a few days to ensure they have adjusted their pumps.
“The most important thing is that products are available the price is competitive ranging from ₦1,050 to ₦1,020 to ₦999,and this is the very essence of the policy of full deregulation of the sector,” he said.
Lokpobiri urged Nigerian to also be vigilant and watch out to check sharp practices when they want to buy products and raise the alarm and report the erring station to regulators.
“Please look at the meters, price if the capacity of your car tank, if it is 100 litres and anybody claims to have dispensed 110 litres, raise alarm that my car tank is a 100 litres and there is no way you can pur 110 litres in a tank of 100 lites.
“All of us must work together, all hands must be on deck to ensure that Nigerians get the full value and gains of deregulation,” he said.
