Fuel Crisis : Supply Shortages and Price Differentials Caused Fuel Scarcity

64 views · Published 4 January 2018 · 4:22 · Indexed 21 October 2026

Channel: Viable Tv · 2018 · News & Politics

Watch on YouTube

Supply shortages due to private oil marketers refusal to import Premium Motor Spirit (PMS)/ Petrol and price hike of crude oil in the global market has been identified as the major causes of the fuel scarcity currently bedevilling the nation. 

Minister of State for Petroleum Resources, Ibe Kachickwu who revealed this during NASS joint public hearing on the Fuel scarcity stated that due to increase in global oil price and resultant effects on landing costs in price differentials constrained private oil marketers from being able to import fuel to meet up with their 70per cent fuel supply quota.

He lamented the inability of Nigeria to refine it's crude oil. He insisted that if Nigeria refines it's crude, fuel scarcity will be a thing of the pasta

More from this channel

• 4:54 SENATE PROBES ALLEGED $3B FRAUD IN NPA,SENATOR OVIE OMO AGEGE, DELTA CENTRAL,APC

  Viable Tv

  201 views · 6 July 2017

• 3:50 NOUN UPDATE : SENATE AUTHENTICATES NOUN GRADUATES FOR NYSC, LAW SCHOOL

  Viable Tv

  2,451 views · 8 July 2017

• 5:20 SENATE URGES FG TO IMMORTALIZES MAITAMA SULE

  Viable Tv

  256 views · 8 July 2017

• 3:10 SOUTHERN SENATORS FORM UNION TO RIVAL NORTHERN SENATORS FORUM

  Viable Tv

  79 views · 8 July 2017

• 3:40 SENATE BERATES KOGI GOVT FOR ITS ALLEGED ROLE IN DINO RECALL

  Viable Tv

  1,499 views · 11 July 2017

• 3:59 NIGER, LAGOS FLOODING, SENATE COMMISERATES WITH VICTIMS, URGES NiMet TO INTENSIFY WEATHER FORECAST

  Viable Tv

  18 views · 11 July 2017

• 2:41 INEC ISSUES CERTIFICATE OF RETURN TO SEN. ADEMOLA ADELEKE

  Viable Tv

  1,592 views · 11 July 2017

• 5:43 SUPREME COURT DECLARES AHMED MAKARFI AS PDP NATIONAL CHAIRMAN

  Viable Tv

  196 views · 12 July 2017