NewStats: 3,263,169 , 8,179,312 topics. Date: Wednesday, 04 June 2025 at 10:28 PM 246z5v

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that there is no evidence that marketers are hoarding petroleum products and as such, there is no reason to punish them.

He stated this after a meeting between a Federal Government delegation led by the Chief of Staff to the President, Abba Kyari, and fuel marketers as well the heads of the Department of State Services and the Nigeria Immigration Service, and representatives of other paramilitary services.

The meeting was held at the Old Banquet Hall of the Presidential Villa, Abuja.

According to Kachikwu, the meeting was not a fault-finding one but meant to find a lasting solution to the problem of fuel scarcity and ensure that it does not recur as directed by President Muhammadu Buhari.

The minister told journalists at the end of the meeting, “This is a major concern that Nigerians should not be made to suffer, that Nigerians do not get through the kind of thing they went through this December.

“We want to find a lasting solution and that is what the committee will come out with in the resolutions tomorrow (Wednesday).”

He said there was no evidence to punish any marketer for hoarding Motor Spirit, popularly called petrol, assuring all stakeholders that part of the demands of the meeting was to name marketers who erred.

Kachikwu stated, “The thing is even the Nigerians, who have suffered, will want to be sure that we find a lasting solution and find evidential basis upon which to punish people.

“This is a democratic government. I don’t have one (evidence) yet; if you have one, I will like to have it.”

The fuel marketers, however, insisted that they could no longer import and sell Motor Spirit, popularly known as petrol, at the controlled price of N145 per litre.

They also denied insinuations that they were responsible for the recent scarcity of the product across the country.

The Chairman, Depot and Petroleum Products Marketers Association, Dapo Abiodun, disclosed these to State House correspondents at the end of the meeting.

Abiodun said neither the Nigerian National Petroleum Corporation nor the independent marketers could be blamed for the recent fuel scarcity.

While stating that marketers did not hoard fuel contrary to the belief in many quarters, he explained that since the price of crude oil went up as a result of Hurricane Harvey in the United States in September, the marketers could no longer import and sell at a controlled price of N145 per litre.

The DAPPMA chairman stated that the meeting was called to consider issues surrounding the recent fuel scarcity with a view to identifying the causes and finding lasting solutions.

He said a committee had been constituted that would meet on Wednesday under the chairmanship of Kachikwu to further go into the details and forestall a recurrence.

Abiodun added, “From our point of view as marketers, we made our submission known to the government and we emphasised the fact that this was not a marketer-related problem.

“There was no hoarding on the part of any marketer. Marketers are your brothers; they are Nigerian citizens; they are businessmen. No marketer makes money from hoarding petroleum products. Our business is to take petrol and sell.

“We explained that the problem that you saw is not wilful on the part of anyone, either the NNPC or the marketers.”

He added, “The situation from our point of view is that from January to December, the price of crude remained relatively stable; but following the hurricane in September to October, crude prices went up and marketers lost the ability to import and sell at N145 per litre.

“Since the price of crude is directly proportional to refined products, we cannot import petrol and sell at N145 anymore.”

He said fuel importation was a partnership between the marketers and the NNPC, with both parties bringing in a certain volume.

Abiodun stated that in the past, marketers were bringing in about 60 per cent, while the NNPC was bringing in between 35 per cent and 40 per cent.

But by October last year, the marketer had stopped importing fuel because there was no more subsidy on petrol, stressing that the situation made the burden of importing 100 per cent to fall on the NNPC.

The President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okoronkwo, said the meeting reached a resolution that would see the fuel supply problem resolved once and for all.

“They (government representatives) have also assured us that the refineries are coming on stream with installed capacities. This is good news,” he said.

Other of the Kachikwu committee are the Group Managing Director, NNPC, Maikanti Baru, most parastatals under the ministry, IPMAN, DAPMAN and labour unions, among others.

http://punchng.com/no-evidence-yet-to-sanction-fuel-marketers-for-hoarding-kachikwu/

What surprises me in this country is the way we blame our leaders , fuel scarcity was caused by the selfish marketers yet people won't reason , blaming the president.

You mean no evidence for what we all see by ourselves...You and your master are failure

Yet, you blamed them. The poster above me, please answer this question: who do you shower praises on when there is no scarcity? Why do you not condemn the same person when there is scarcity like the one we are observing now? Why are you people not honest for once?

all this blame game should stop... if distribution is efficient, no single marketer will be able to hoard... some of these independent marketers don't even get the fuel from depots at the official price... so, how do we expect them to sell at a loss?....

The fuel is being hoarded and stored in the north..

GEJ found a huge cache of hidden fuel back in 2010 up north.

Now Buhari is back, they’re restocking once more

****** Change you seek Change I give unto thee Funny how no one is #OccupyingNigeria Yeye people

Seriously no hoarding

Did fuel importations stopped?

Do people normally consume more petroleum product during festive periods??

What exactly is the problem Naija

I'm fucking tired mehn... corrupt men everywhere!

.

The dullard who appointed himself minister of petroleum should just accept the responsibility of being a failure than looking for who to punish and blame.

Lies upon lies... u don't hoard fuel because if u do, they don't stand to gain huge profit from it. Do these people think Nigerians are dummy? Let FG announce N250 per L today and watch how car queues at filling stations would disappear. Greedy marketers!

That's the solution staring right back at them: deregulate

NaoSlay:
What surprises me in this country is the way we blame our leaders , fuel scarcity was caused by the selfish marketers yet people won't reason , blaming the president.

Did you read this part in the post When kachukwu just stated there is no evidence of hoarding...

He said there was no evidence to punish any marketer for hoarding Motor Spirit, popularly called petrol, assuring all stakeholders that part of the demands of the meeting was to name marketers who erred.

Kachikwu stated, “The thing is even the Nigerians, who have suffered, will want to be sure that we find a lasting solution and find evidential basis upon which to punish people.

“This is a democratic government. I don’t have one (evidence) yet; if you have one, I will like to have it.”

The fuel marketers, however, insisted that they could no longer import and sell Motor Spirit, popularly known as petrol, at the controlled price of N145 per litre.

So Buhari just dey make mouth for him speech?

Yet buhari wants to go shittes on them...

kachikwu is not ready to dent or soil his hard earned international reputable image for a paltry 4 year minister of state and a dead career.

Retrospect:
1999 - 2011 dollar increased from N22 to N148
2011 - 2015 dollar increased from N148 to N177
2015 - 2017 dollar increased from N177 to N365

Yet we threw the baby away with the bath water..

Another evidence that Buhari lied in his new year speech.

okosodo:
Yet, you blamed them. The poster above me, please answer this question: who do you shower praises on when there is no scarcity? Why do you not condemn the same person when there is scarcity like the one we are observing now? Why are you people not honest for once?

Some people are just sycophants with no sense of objectivity whatsoever, when Baru NNPC GMD has stated that the landing cost for fuel is 171/litre, so how do we expect the marketers to sell for 145/litre and make profit when they are not even getting the fuel less than 145


Few days ago there was a news article from times detailing the price of PMS at various depot which was between 150 to 160/litre.


The problem here is the lies from the government, and their lies is coming back to bite them in the butt...


All the hoarding claim is an attempt to save face and play the blame game as usual, how many NNPC petrol station are dispensing fuel at the moment

Yet the animal called Buhari was making empty noise as usual.

Like I said before, only Yoruba muslims believe the rubbish lies that come out of Buhari's mouth.

luvinhubby:
Another evidence that Buhari lied in his new year speech.

Buhari did what he knows how to do best, issue empty threats, blame everybody and anybody, lie and never take responsibility for any missteps...


Someone once said "Buhari makes failure look simple and interesting."

hmmm nigeria my country which way?
Oga at the top is saying different thing while this one is also saying different thing.......who can we categorically believe.
You see why that NSCDC man was right.

To say anyone is hoarding fuel is a totally depicable lie and it good to know Kachikwu is not towing that false acc path of Buhari .

Buhari lost touch with reality March 1, 2015.

since then, his head has been in the clouds of delusion...

Hahahaha...


No evidence, but Buhari came on national media space to BLAME imaginary marketers for his own failure in a ministry that he presides over!


One week, one calamity from this mistake of a president!

But they have been crucified by the General and his peons.

Somebody should tell those guys in NNPC that it's already new year but most private filling stations are selling way above #145 like they promised.

BeeBeeOoh:


http://punchng.com/no-evidence-yet-to-sanction-fuel-marketers-for-hoarding-kachikwu/

it was spirit that was doing the hoarding

Awon Egbere

So Buhari cannot even get his facts right before talking. I await the people he promised to punish as the saboteurs of the fuel scarcity.

Can you see how useless and deceptive this government is?


So who are saboteurs Buhari mentioned in his new year speech?

The earlier the better my honorable minister. The pains they made us suffer should not go in vain please.

That's the problem with Buhari, he says one thing today and his boys come out to say another thing the next day. You want to sanction oil marketers, it's like you want Nigerians to suffer.

These guys have the upper hands, you sanction them they sanction the citizens.

Kachi kachi come and collect evidenceb

I just laugh at this istration. So have filling stations been penalised for hoarding fuel, or y'all also have no evidence for that.

Anyways, it didnt start today. The rot in NNPC and the entire oil industry is long coming.