To put an end to the fuel scarcity crisis in the country, the Federal Government has directed Navy, Nigerian Ports Authority (NPA), Customs and Excise and the Nigerian Maritime Administration and Safety Agency (NIMASA) at the ports to grant preferential and speedy treatment to ships carrying petrol.
This is just as the country has been subsidising petrol at N26 per litre.
The Group Managing Director, NNPC, Dr Maikanti Baru made these known on Sunday while addressing journalists.
Baru said that the Cost, Insurance and Freight price of PMS is $620 per metric tonne, adding that at N305 to a dollar, the landing cost translates to N171 per litre.
He disclosed that the NNPC had been shouldering the difference between the landing cost and the official pump price of N145 which amounts to N26 per litre.
Baru stressed that the consumption of petrol has risen to over 50 million litres per day, due to hoarding and diversion, adding that the product was being smuggled across the borders because of the price disparity that exists between Nigeria and the neighbouring countries.
However, he said the lingering fuel scarcity crisis in the country would end in two days as a result of measures being implemented by the NNPC.
The NNPC boss disclosed that President Muhammadu Buhari was deeply concerned about the plight of Nigerians and had directed the use of everything necessary to ameliorate the situation.
He said NNPC depots and mega stations had been directed to conduct 24-hour sales of the product.
He added that major marketers were also directed to comply with the directive.
Baru also said that the body had commenced distribution above the required daily consumption rates in the country, including the delivery of additional 300 million liters in December 20l7 and January 2018 to beef up national reserves to 45 million litres per day, well above the normal consumption requirement of between 27 and 28 million litres per day.
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