Activities of black marketers prolonging fuel scarcity— stakeholder

Alhaji Muhammad Hassan, the Executive Chairman, Skymark Energy and Power Ltd, says the activities of black marketers is prolonging the fuel scarcity.

Hassan, who said this while speaking with newsmen in Abuja on Monday, noted that their operations were tantamount to sabotaging the efforts of the Ministry of Petroleum Resources in finding lasting solution to the problem.

According to him, the ministry and the Nigerian National Petroleum Corporation Ltd. (NNPCL) have already taken proactive steps toward ensuring adequate supply of fuel.

Hassan expressed the hope that very soon, the long queues at fueling stations would be over.

“The independent marketers and black marketers’ activities have become a serious menace and are aggravating the fuel crisis.

“It has become imperative for anti-corruption agencies to crackdown on them because the situation is getting out of hand.”

Speaking on fuel subsidy removal, Hassan commended President Muhammadu Buhari for not removing it for now, adding that the decision was due to his concern for the masses.

He, however, said that it had become imperative to remove fuel subsidy due to the rise in price of crude oil globally which Nigeria would benefit from.

The Skymark Energy and Power boss said Nigerians must be ready to accept fuel subsidy removal, adding that it had become more imperative because oil and gas prices had increased in the global market.

“If Nigeria removes subsidy, it will also begin to benefit from the increase in the price of crude oil. I believe strongly that if it is removed, it is for the benefit of all Nigerians.

“The landing price is about N300 per liter and it is being sold at official price of N165. In a few days’ time, the landing cost might rise to N500 or more because it is close to N400 now.

“If subsidy is removed, people can still cope because there will be Compressed Natural Gas (CNG) as the alternative which is even cheaper and more affordable than PMS,” Hassan said.