President Muhammadu Buhari has urged regulators in the petroleum industry to do what is best for Nigeria.


Minister of Petroleum Resources, Timipre Sylva, disclosed these in an interview with State House, after he led the Chief Executive Officers of Petroleum Mid and Downstream sectors to the Presidential Villa, to meet with President Buhari’s.

He said President Buhari also expressed satisfaction with the level of implementation of the Petroleum Industry Act (PIA) 2021

On the recent increase in the price of cooking gas in the country, the Minister said the President is worried over the situation just like all Nigerians.

Sylva further said although the price of the essential commodity is not regulated by Nigeria, some steps would be taken internally, to provide some relief, ahead of the yuletide season.

The Minister emphasized that the rise in price of gas is not peculiar to Nigeria because the same scenario obtains in Europe and other parts of the world.  

On the transition of cars form the use of petrol to gas, he said government needs about six billion naira for the procurement of kits to convert the first one million cars as well as facilitate the procurement of equipment that will enable gas pump stations come on board.

The Minister also disclosed that President Buhari has directed him to proceed to Nenbe in Bayelsa State for an on the spot assessment of an oil spillage there and report back.

Sylva said the President is worried over the mater and says all must be done to address the problem without delay.

Contributing, the Chief Executive Officer of the Midstream Petroleum Regulatory Authority, Farouk Ahmed said the marginal queues witnessed at filling stations in Abuja and some parts of the country were caused by the payment logistics in US dollars by depot owners but the problem is being rectified.

END BELLO WAKILI