Buhari apologises to Nigerians for long queues at petrol stations

President Muhammadu Buhari talking
President Muhammadu Buhari talking

President Muhammadu Buhari on Tuesday apologised to Nigerians over the long queues being experienced at petrol stations across the country.

The president made the apology while presenting the 2016 budget to a joint session of the National Assembly in Abuja.

He said government was making efforts to bring an end to the shortages.

“Government profoundly apologises to Nigerians for this prolonged hardship and misery.

“It is as a result of market speculators and resistance to change by some stakeholders.

“Government is working very hard to end these shortages and to bring fuel to the pumps all over the country,’’ he said.

He said the Nigerian National Petroleum Corporation (NNPC) had been directed to explore alternative funding models to enable government honour its obligations in Joint Ventures (JVs) and deep offshore fields.

The president expressed optimism that the measures could be achieved and would lower the burden that the traditional cash calls had imposed on the budget.

He further said it would reduce the burden on cash flows as well as contribute towards shoring up the country’s national reserves.

He said his administration would not lose focus on the need to restructure the oil and gas sector which had been marred by corruption and inefficiency.

According to him, he has directed the Petroleum Products Pricing Regulatory Agency (PPPRA) to adjust its pricing template to reflect competitive and market driven components.

“We believe this can lower input costs and attain efficiency savings that will enable PPPRA to keep the selling price for all marketers of petrol at N87 per litre for now,’’ he said.

Oil-related revenues are expected to contribute N820 billion in the just presented 2016 budget.



Support PREMIUM TIMES' journalism of integrity and credibility


Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.