Senator Heineken Lokpobiri, the Minister of state for Petroleum Resources (Oil) Thursday, made this known on Thursday while briefing State House reporters after meeting with Vice-President Kashim Shettima, joined by the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.
The Nigerian government has stated that the pump prices of fuel would stabilise as soon as the product was made available across the country.
Senator Heineken Lokpobiri, the Minister of state for Petroleum Resources (Oil) Thursday, made this known on Thursday while briefing State House reporters after meeting with Vice-President Kashim Shettima, joined by the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.
The Minister said the meeting which also had Mallam Nuhu Ribadu, National Security Adviser in attendance was at the instance of President Bola Tinubu, who he said was "concerned" about the hardship being faced by the masses.
Lokpobiri urged Nigerians to shun panic buying, saying it was expected that there would be availability of petrol by the weekend.
He said: “What is important is that products are available in the country, and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country.
“The price could be high in some areas, much higher in some other locations, and much more higher (sic) in other areas.
“But we believe that by the time there is availability of products across the country, the price itself will stabilise.
“But what is important is that the government is not fixing prices. This sector is deregulated. And we believe that with the availability of products, the price will find its level. And this is important for Nigerians to know.
“There is enough product in the country to be able to meet the demands of Nigerians, there should be no panic buying. And we also believe that Nigerians need to know that the government is not fixing prices.”