Buhari apologises to Nigerians for long queues at petrol stations

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.

(NAN)


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  • GEJ FOREVER

    Borrow a whopping N2trillion to finance bogus unsustainable social welfare programs is indeed the height of wickedness and the end of Nigeria.

    • sunny

      you call it bogus when it concern the common man, you clone , anyway your loot has being stopped , you will rot in jail

      • B. Messi

        Which sane society BORROWS to fund social welfare programs?
        Borrowing should be for Capital projects which could add some form of revenue for the country.
        APC just used this as a campaign gimmick. We all saw how even their APC legislators shot down the PDP motion to compel the payment. The APC legislators knew #125billion a month is NOT Sustainable with the economic meltdown!
        Don’t take leave of your senses buster. Speak truth to power..Buhari is NOT God…stop worshipping him.

    • Saydo Shan

      Shameless guy. Wicked guy.

  • Saydo Shan

    Baba dey apologise. Baba dey beg Mekunus. Baba dey beg Talaka. Baba dey juba for una. Na original Baba be dat. Na better Baba be dat. Na Ogbonge Baba be dat. Baba dada. baba rere. Babaaaaaaaaaaa. Babaaaaaaaaaa. Babaaaaaaaaa.

    • Otile

      Stop this praise singing, he is Baba for oil money and nothing else.

      • Saydo Shan

        Him dey put Oil Money for him pocket?

  • justin

    Nawa oh! rearing 250 cows , is indeed ddifferent from managing an economy as big as that of Nigeria. I am not surprised though, even the likes of Obasanjo who brought him into power knew it.

  • Otile

    Imam, your apology does not do us any good. You laughing all the way to the bank but at the same time apologizing to us. Sir, leave us to lick our wounds.