Tag Archives: Timipre Sylva

Marketers behind scarcity of fuel – FG, Timipre Sylva.

The Minister of State for Petroleum Resources, Timipre Sylva, on Wednesday, accused petroleum marketers of frustrating the Federal Government’s efforts at making petrol available to Nigerians.

Sylva, who addressed State House correspondents after the Federal Executive Council (FEC) meeting in Abuja, said the government has done everything required to make the product available to Nigerians but the efforts were thwarted by the marketers. Watch Video Here

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The minister said President Muhammadu Buhari was worried over the long queues at petrol stations across the country

He, however, assured the citizens that the Nigerian National Petroleum Company Limited (NNPC) and other stakeholders were working hard to address the problem. Watch Video Here

READ ALSO: Petroleum minister, Sylva, says fuel at N300 per litre not too much for Nigerians

Queues in filling stations surfaced in Lagos, Abuja, Port Harcourt, and other parts of the country in the latter part of last year with marketers selling the products at between N200 and N250 per litre to the surprise of Nigerians.Watch Video Here

Sylva said: “At the moment today, there is supply but unfortunately, we are experiencing some bottlenecks in the distribution and movement of the product to various destinations.

“We have reports of profiteering by marketers and I have directed the pricing regulatory agency, Nigerian Midstream, and Downstream Petroleum Regulatory Authority to sanction anybody who profiteers in this kind of situation.”


Fuel scarcity: Deport owners not selling at approved price would be dealt with: Fg


The Federal Government says it will deal decisively and sanction any Depot Owner caught selling petroleum products beyond the approved Ex-Depot price in the country.

Chief Timipre Sylva, Minister of State, Petroleum Resources, made this known on Thursday in Abuja while briefing newsmen on its effort to resolve the issue of fuel scarcity in the country.

Sylva urged the public to report anyone who tried to take advantage of the situation for sanctioning as required by the law.

“We are aware, just like President Muhammadu Buhari said in a statement, that there are some Depot Owners who are taking advantage of the situation by increasing the Ex-depot price.

“I can assure you that there will be sanctions for any of those depots that continue to increase the Ex-depot price as approved. We are going to deal decisively with anyone who tries to take advantage of this situation.

“It been a difficult few weeks; a few weeks ago, we had the issue of petroleum product shortage. I have already addressed that matter which coincided with the geopolitical tension in Ukraine and Russia.

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“Prices of crude oil went up exponentially beyond levels expected. As you all know, when crude oil prices rise to that level, it can also affect the derivatives of crude oil.

“Nigerians are suffering because of the high diesel prices, including everywhere else globally.

“This is not peculiar to us at all. Diesel is a deregulated product and therefore, when the prices go up internationally, it affects the price also in Nigeria,” he said.

As a result, the minister said the trucks that could move petroleum products that ran on diesel were impacted and could not really cope with the high diesel prices.

Though he said the products were available in the depots, the trucks could not move the product because of the high cost of transportation.

This, he said, brought in another dimension to the crisis.

“If any deport owner increases price or any fuel station tries to take advantage of the situation, the public should report immediately.

“If we do not get the report, we cannot know what is going on or sanction them,” he said


Nigeria fostering corruption through fuel subsidy: Policy Alert.


A civic society organisation, Policy Alert, has condemned continuous payment of subsidy on premium motor spirit (PMS), insisting that the country is fostering corruption through the scheme.

While the Minister of Finance, Zainab Ahmed, had said only N443 billion is presently available in the 2022 budget for subsidy from January to June, the Nigerian National Petroleum Company (NNPC) presented to the ministry, a request for N3 trillion as fuel subsidy for 2022. “What this means is that we have to make an incremental provision of N2.557 trillion to be able to meet the subsidy requirement, which is averaging about N270 billion per month,” she said.


Decrying the development, Executive Director of Policy Alert, Tijah Bolton-Akpan, said while the government has sent a supplementary budget to the National Assembly in which provision is made for subsidy payments, statistics on actual consumption remained elusive.

The Minister of State for Petroleum Resources, Timipre Sylva and the NNPC had embarked on a campaign against smuggling in an attempt to reduce daily consumption of PMS. The development had at some point, reportedly reduced the consumption level below 50 million litres daily.


With renewed subsidy payment, NNPC stated that the country’s consumption was over 100 million litres. Bolton-Akpan, however, noted that the consumption disparities were indications of lack of transparency and accountability.

He said: “We are discussing the removal of a subsidy that no one knows for sure how much it amounts to. How much exactly will you be removing when you eventually come around to deregulate?

“The problem really is that because corruption has dogged all efforts at fixing our refineries over the years. It defies every logic that we could be a super-producer and still be here talking about the economics of spending nearly a trillion naira in just over two years for just freighting refined products back home for domestic consumption. How can you be a yam titleholder and be depending on other people to eat pounded yam?”


Noble Reporters Media had reported that at least, N861 billion was spent by the country in 26 months as freight cost for the importation of petroleum products, especially Premium Motor Spirit (PMS) totalling about 41 billion litres, as the nation’s four refineries remain comatose.

By importing, instead of refining petroleum products in the country, the Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, had earlier informed that the country spends at least N17 as freight cost on every litre of petroleum product imported.

Policy Alert noted further that Nigeria’s energy problem isn’t about subsidy but about the corruption that has rendered refineries obsolete.


“It is about the cabal that has been feeding fat on subsidy payments for dud or inexistent refined products and a government that has refused to bring these known criminals and economic saboteurs to book. It is about an NNPC that has over the years been playing abracadabra with domestic crude allocation.

“It is about regulators and security agencies turning a blind eye to diversion and smuggling of products and poor Nigerians taking the rap for it at the pumps. It is about our bad road network and poor electricity supply situation that is increasing the number of litres of fuel spent on public transportation and running generators by businesses,” Bolton-Akpan said.

He insisted that the country is “subsidising a fat lie,” stressing that the three trillion naira would be cutting a huge hole in the federal budget.


Bolton-Akpan said: “While I agree that this is not sustainable, we must deal with the issue at the level of first principles. Address these fundamentals and we might just realise that there is really little or nothing left to subsidise.”

Beyond these, he stated that Nigeria’s energy crisis has been more about the denial of the energy transition, adding that the country is still banking on resource-backed loans to fix the refineries; crude oil that has not yet been drilled, money still in the ground, while oblivious of the energy transition and the possibility that the country could wake up one morning and find no use for oil resources.

Bolton-Akpan stated that the budget funding challenge must also be tied to the refusal to diversify and wake up from oil-induced economic stupor.