Fuel scarcity: We have 1.7bn litres PMS reserves — Kyari

…says NNPC expects  delivery of another 2.3bn litres By Uthman Salami

The Federal government through the Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria has, in her reserves, over 1.7 billion litres of Premium Motor Spirit (PMS) popularly known as petrol following a resurgence of long queue being witnessed in some parts of the country.

While allaying the masses’ fear of over fuel scarcity, the Group Managing Director (GMD), Mallam Mele Kolo Kyari emphasised that the country has enough PMS in her reserves.

The NNPC said this yesterday at the Association of Energy Correspondents of Nigeria (NAEC) 2021 Strategic International Conference that was held in Lagos.

This year’s conference was tagged ‘Petroleum Industry Act: Energy Transition and the Future of Nigeria’s Oil and Gas.’

Explaining why Nigeria was demanding for energy justice at the ongoing summit in Glasgow, Kyari said NNPC’s objective  was to provide energy security for Nigeria and ensure availability of petroleum products in the country.

Kyari revealed that, “As we speak now, there is speculation of fuel scarcity within the media but we have over 1.7 billion litres of Premium Motor Spirit in the country.

“We have another 2.3 billion litres coming in so there is no shortage in supply as being speculated.

“Of course there are issues about pricing at some depots but government has no plan to revise the pricing structure.”

The NNPC boss further noted that the COP26 again highlighted the challenges faced by Nigeria and other African countries in the global energy transition.

He said President Muhammadu Buhari in his speech before the world leaders had demanded for energy justice for the continent and the need to exploit the available resources as a pathway to attain the net-zero carbon objective by 2050.

Kyari stressed that though Africa accounted for only about 3% of the global carbon emission, the continent still had the responsibility to join the world in combating climate change.

According to him, Nigeria has identified its abundant gas resources as its fuel for energy transition which informed the declaration of the Year 2021 to Year 2030 as the Decade of Gas by the government.

“We are making good progress in terms of the implementation of the PIA which is clearly creating the path for transition.

“There is no way we can achieve this feat without adequate infrastructure to transport the resources to where it will be used and that is why we are investing in massive gas infrastructure,” he said.

He added that the projects include the Obiafu-Obrikon-Oben (OB3) and the Ajaokuta-Kaduna-Kano pipelines which would deepen gas utilisation in the country.

On his part, the Conference Chairman, Mr Biodun Adesanya, commended the setting aside of 30 per cent of the profit of the NNPC for exploration activities in the frontier basins in the PIA.

Adesanya said the discovery of oil and gas resources in other areas apart from the Niger Delta was a welcome development which should be pursued with vigour by the country.

He however called for the appointment of competent personnel to manage the sector, noting that this was the only way Nigerians could benefit from the country’s abundant oil and gas resources.

Meanwhile, Executive Secretary, Mr. Simbi Kesiye Wabote of the Nigerian Content Development and Monitoring Board (NCDMB), said the passage of the PIA has begun to open vagaries of opportunities in the industry.

The ES, who was ably represented by Mr Tunde Adelana, Director, Monitoring and Evaluation, NCDMB, said the implementation would impact positively on local content development and host communities.

He added that it would also stimulate the much-needed investment to the oil and gas industry.

In his Welcome Address, the Chairman, National Association of Energy Correspondent (NAEC) Mr Olu Phillips, said statistics show that more than 100,000 people die annually in Nigeria as a result of indoor inhalation of waste gases.

Phillips explained that this was the tip behind the federal government road map for steady energy transition, noting that the Nigerian government was responding with the focus on optimal utilisation of the country’s gas resources.