FG Confirms Optimal Fuel Supply for Yuletide as Production Hits 1.5mbpd
The Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that there is sufficient supply of petroleum products, about 2.1 billion litres for a total of 34 days.
This is just as the Minister of Petroleum, Mr Timipre Sylva announced that crude oil production has risen to 1.5 million barrels per day.
According to a statement signed by the Special Assistant on Media and Public Affairs to the Minister of State for Petroleum, Julius Bokoru, the Minister made the cheering announcement at the NNPC towers on Monday, in a stakeholders meeting comprising the Group Chief Executive Officer of NNPCL, Malam Mele Kyari; the Authority Chief Executive of NMDPRA, Engr. Farouk Ahmed; leadership of MOMAN, DAPMAN, IPMAN, NARTO, PTD and other energy on-radar players.
Sylva extended the President’s appreciation to stakeholders for the fight against crude oil theft and efforts to drive up Nigeria’s crude oil production numbers. He said that through collaboration and transparency, stakeholders could achieve the deadline to commence domestic refining of petroleum products by the end of Q2 2023 and reduce the country’s fiscal deficit.
He said, “Accordingly, I charge all of you to ensure optimal supply and distribution of Petroleum Products across the Country, especially as we approach the Yuletide. As a government, we are sympathetic to the economic plight brought upon ordinary Nigerians due to the soaring global energy demand triggered by the Russia-Ukraine conflict, which has strained the global supply of crude oil and its resultant effects.
“In the same vein, the recent floods experienced across the Country have disrupted the distribution logistics infrastructure which is needed for the efficient accessibility of Petroleum Products by Nigerians; my home State, Bayelsa happens to be the most severely affected and I personally thank NNPC Ltd for their valuable relief efforts to the displaced. My sympathies to all Nigerians, we are working round the clock to ensure ease in the availability of Petroleum Products.
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“I expect a Yuletide supply, storage and distribution plan in the next 48hrs for presentation to FEC to assure Nigerians of Government’s commitment in line with the contract we signed with the Nigerian people at the inception of this administration in 2015. Product stock levels must remain adequate, sufficient and available to support the various Nigerian families traveling without any encumbrances,” the minister added.
The GCEO, NNPC, Mallam Kyari on his part was quoted as assuring the public of unhindered PMS supply from December through the new year. He said, “I can confirm to you Hon. Minister we have comfort level supply, we have line of sight around all our suppliers, we have confirmation on all our cargo up to the end of December, so we do not see any glitch’
“The Authority Chief Executive of NMDPRA, Engr. Farouk Ahmed also towed in line ‘As of PMS, we have national sufficiency. As of today, we have 2.1BL broken down in segments on both land and marine for a total of 34 days sufficiency. Our threshold is normally 30 days sufficiency but as for today, we have 34. 10 days equivalence on land and 23.8 is on marine. Obviously, our objective is to push that marine on land. Also, to have even distribution across the zones Port Harcourt, Warri, Calabar, Oghara and of course Lagos.”
