Hotmedia
OIL AND GASECONOMYLATEST

Breaking: Petrol Scarcity Triggers Protest In Edo, Southwest Nigeria

Hundreds of protesters blocked roads in Benin City, the Edo State Capital, Southwest Nigeria on Monday, over the protracted fuel scarcity and hike in the price of the product.

A video of the protest seen by SaharaReporters on Monday morning shows fires on the road with thick smoke billowing from the burning materials.

A voice narration in the video said, “This is happening live in Benin City, Edo State capital; huge protest going on over fuel crisis. You can see protesters block roads and making fire on the roadblocks.”

The media earlier reported that the price of premium motor spirit (PMS), otherwise called petrol had gone up, with some fuel stations selling for as high as N400 per litre.

The official cost of the product used to be N165 per litre before recent reports accuse the government of quietly increasing it to N185 per litre. But due to the scarcity of the product and the rising demand, many fuel stations have been selling for between N340 and N400 per litre.

The scarcity of the product is currently causing untold hardship for Nigerians.

Also the media earlier reported that President Buhari recently set up a 14-man committee that he would be heading to proffer solutions to the lingering fuel scarcity.

The committee according to the Minister of State for Petroleum Resources, Mr Timipre Sylvia, will be chaired by the President as the Minister of Petroleum Resources while he will be the alternate chairman.

READ ALSO : Unknown Gunmen Attacks Imo Community Enyiogugu, Killed Two Persons

The committee’s job is to address the challenges in the downstream sector of the petroleum industry, causing petrol scarcity in Nigeria.

It will also track petroleum products, especially petrol to ascertain daily national consumption and eliminate smuggling.

In October 2022, Sylva said Nigeria was losing at least 700,000 barrels of crude oil to thieves daily.

The minister said this through the Permanent Secretary in the petroleum resources ministry, Ambassador Gabriel Aduda, who represented him at the 2002 graduation of students of the Petroleum Training Institute (PTI).

Related posts

Dangote Snubs Innoson Motors, Imports 2500 Trucks From China, Amidst Local Content Policy. 

Hotmedia

Supplementary Budget: NASS Approved NIA Budgets N4.87bn To Monitor, Intercept Calls, Messages

Hotmedia

Amid Debts Servicing Exceeds Revenue: Babatunde Fashola Says Nigeria Is Not Broke

Hotmedia

SDP’s Adebayo Raises 5 Critical Questions Ahead March 11 Polls

Hotmedia

Revealed: Public Schools Removed Christian Knowledge From Curriculum – CAN Cries Out, Says Nigeria Under Siege

Hotmedia

Latest: Unknown Gunmen Attack Police Checkpoint, Kill Two Policemen, Cart Away AK-47 Rifles in Taraba. 

Hotmedia

Leave a Comment