The House of Representatives Committees on Petroleum Resources (Downstream and Midstream) have called on security agencies to take action against fuel marketers hoarding petrol and arbitrarily increasing prices.
The committees, led by Ikenga Ugochinyere and Henry Okojie, have engaged with stakeholders in the petroleum distribution value chain to address the resurgence of fuel queues across the country.
Despite discovering that there are over 1.5 billion liters of petrol in storage facilities, enough to last 30 days, the committees found that logistical challenges, including transportation difficulties and disruptions in the Escravos channels, have led to the scarcity.
However, they assured that these issues have been addressed and the scarcity will soon be resolved.
The lawmakers accused some stakeholders of economic sabotage and urged security agencies to support key stakeholders in detecting and dealing with acts of hoarding, price manipulation, product diversion, and smuggling.
They emphasized the need for decisive action to prevent further hardship for Nigerians.
