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House Committee calls for crackdown on petrol hoarders amid supply disruption

Assurances given on fuel availability as logistical challenges contribute to temporary scarcity

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The House of Representatives Committee on Petroleum Resources (Downstream and Midstream) has urged security agencies to take action against hoarders of Premium Motor Spirit (PMS), commonly known as petrol. Speaking at a press conference in Abuja, the committee reassured Nigerians of the availability of petrol stocks while acknowledging logistical challenges contributing to temporary scarcity.

Co-chair of the committee and Chairman of the House Committee on Petroleum Resources (Downstream), Ikenga Ugochinyere, emphasized that there is sufficient petrol inventory to sustain the country for approximately 30 days. However, he attributed distribution disruptions to challenges in transporting products from offshore to onshore facilities.

Ugochinyere denounced the activities of middlemen exploiting supply disruptions to maximize profits, calling on security forces to collaborate with relevant stakeholders to combat hoarding, price hikes, product diversion, and smuggling. He underscored the need to protect consumers from further hardships caused by such practices.

Expressing concern over the presence of fuel queues at petrol stations nationwide, the committee assured Nigerians that the challenges would be resolved within a few days. Ugochinyere attributed the resurfacing of queues to logistical issues, including difficulties in transporting products and disruptions in supply chains.

While acknowledging assurances from regulatory bodies in addressing bottlenecks, Ugochinyere called for patience from the public, promising that fuel queues would dissipate within two to three days. He highlighted ongoing efforts to rectify logistical challenges and ensure uninterrupted fuel supply across the country.

The committee’s proactive stance aims to alleviate public concerns and restore confidence in the petrol distribution system, emphasizing the government’s commitment to addressing supply disruptions and safeguarding consumers’ interests.

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