Fuel scarcity across Nigeria to end in 48 hours, Kachikwu tells NEC

PIC.1.FUEL QUEUE AT PETROL STATION IN ABUJA ON TUESDAY (29/3/16). 2592/29/3/2016/HF/CH/NAN

The Minister of State for Petroleum, Ibe Kachikwu, has assured governors of Nigerias 36 states that the ongoing fuel scarcity will end in 48 hours. 

Mr. Kachikwu gave the assurance on Thursday while briefing members of the National Economic Council, NEC, comprising the governors and some ministers. 

The NEC is chaired by the Vice President, Yemi Osinbajo, who also chaired the 83rd meeting of the council at the Presidential Villa, Abuja. 

Briefing State House correspondents after the meeting, the governor of Edo State, Godwin Obasaki, said, “The Minister of State for Petroleum Resources assured council that within the next 48hours fuel supply will be restored nationwide because there is enough fuel in our strategic reserves and the ministry has released fuel from these reserves and it expects distribution will reach all parts of the country within the next 48hours.”

Mr. Kachikwu had also assured the Federal Executive Council, FEC, last week Wednesday that the crisis would be over by last weekend. 

PREMIUM TIMES checks on Monday showed that instead of abating, the crisis was increasing. 

However, similar checks on Wednesday and Thursday in Abuja showed the situation has improved and there were very few vehicles on queue in most of the filling stations visited. 

Mr. Obaseki also announced that the Secretary to the Government of the Federation, Boss Mustapha, who also briefed the NEC, informed them that in order to have an alliance with states, his office has decided to organise a retreat for Secretaries to State Governments, SSGs. 

He said the retreat will hold from the December 18 to 19. 

“The SGF implored all governors to ensure that all SSGs attend this retreat,” he said.

Mr. Obaseki had also earlier announced that the NEC resolved through the chairman of the governors forum, Abdulaziz Yari, to support the efforts of the Federal Government in the area of security. 

He said governors are “pleased with the achievements that have been made till date in the fight against insurgency particularly in the North-east.”

“The governors have given permission to the federal government to spend the sum of $1billion dollars in the fight against insurgency,” he said.

MONEY IN ACCOUNTS

Speaking earlier, the Governor of Gombe State, Ibrahim Dankwambo, said the NEC received update on the forensic audit of revenue that accrued into the federation account up to 2015. 

He said as a follow up to the report which was submitted last month, “Council was informed that KPMG is still conducting the audit of the Nigerian Customs Service and the Nigerian Communication Commission. Hopefully by January 2018, these audits will be concluded and the report will be submitted to the council.”

Mr. Dankwambo said the council was also informed by the Accountant General of the Federation that the balance in the Natural Resource Development Fund Account as at December 13,  2017 stands at N106.984 billion. 

“The accountant general of the federation also informed council that the balance in the Excess Crude Account as at 13th December 2017 stands at $2.317 billion. 

“Update of the current balance of the stabilisation fund account was also reported by the Accountant General of the Federation which as at 13th of December 2017 stands at N7.78billion,” he said. 

The Gombe governor also said the update received on budget support facility granted to states was reported to the council and that for the months of June, July and August, states have been paid while the Federal Ministry of Finance is working on the payment of September’s budget support.

Mr. Dankwambo in response to inquiries said the agreement is that states are supported once monies shared during Federation Accounts Allocations Committee, is less that N600 billion. 

He also said amount received by states range from N800 million to N1.1 billion. 

Mr. Dankwambo said the Minister of Finance, Kemi Adeosun, informed council that the budget support facility to states is also based on certain conditions as agreed under the fiscal responsibility plan. 

He, however, said the minister “complained that most states are yet to comply and added that non-compliance will make her ministry stop any further loans to be given to states that do not comply.”


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