BREAKING: Shettima takes major action as petrol price rises to ₦1,200

In an apparent move to douse tension over the recent hike in petrol pump prices and the scarcity of the product, Vice President Kashim Shettima, on behalf of President Bola Ahmed Tinubu, has summoned a meeting of the authorities in the nation’s petroleum sector.

The emergency meeting, which was held at the Vice President’s Office in the State House Abuja, had the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari; and the National Security Adviser (NSA), Nuhu Ribadu, in attendance.

It would be recalled that the NNPC Limited, on Tuesday directed its fuel sales outlets to increase their pump prices from the average of ₦617 to ₦897, a development which has seen prices rising to as high as ₦1,200 in some areas.

Speaking briefly to journalists at the State House after the meeting, the Minister of State for Petroleum Resources, Lokpobiri, assured the public that the fuel crisis would soon be resolved, saying the NNPC has sufficient fuel supplies to meet national demand.

Lokpobiri urged Nigerians to remain calm, adding that increased availability of petroleum products would foster competition and drive down prices.

He further emphasised that the government was not responsible for recent hikes in fuel costs.