VP Shettima Meets with NNPC, Petroleum Officials Over Petrol Price Hike

Vice President Kashim Shettima on Thursday held a meeting with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, and the National Security Adviser (NSA), Nuhu Ribadu, to discuss the recent hike in petrol prices in Nigeria.

The meeting, which took place at the State House in Abuja, followed the NNPC’s decision to raise petrol prices at its filling stations to ₦897 per litre.

EKO HOT BLOG reports that the meeting was convened by Shettima under the directive of President Bola Tinubu to address the challenges facing the oil and gas sector, particularly with regard to pricing and scarcity.

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Speaking to journalists after the meeting, which also included the Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ugbogu Ukoha, Lokpobiri explained that President Tinubu is concerned about the ongoing issues in the energy sector and is sympathetic to the struggles of Nigerians.

The Minister added that the President has instructed them to take steps to stabilize fuel supply and pricing. As part of these efforts, Vice President Shettima is leading initiatives to ensure petroleum products are accessible across the country.

“This intervention aims to address the uneven distribution of fuel, with some areas experiencing shortages and others facing higher prices,” Lokpobiri said.

He urged Nigerians not to engage in panic buying and reassured them that measures are being taken to eliminate fuel scarcity and long queues at filling stations by the end of the week.

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Lokpobiri also clarified that while prices may fluctuate in different regions, the government’s priority is to make fuel more accessible, which will help stabilize prices.

He stressed that fuel prices are determined by market forces, as the sector is deregulated, but with improved supply, prices are expected to stabilize naturally.

“The administration is committed to resolving these issues and ensuring the supply chain meets the demands of all Nigerians in the coming days,” he concluded.

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