Deregulated Fuel Prices Keep Stations Stocked During The Holiday Rush, Claims Lokpobiri

Deregulated Fuel Prices Keep Stations Stocked During The Holiday Rush, Claims Lokpobiri

Senator Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum, has credited the full deregulation of the country’s downstream oil sector for preventing fuel shortages during the festive season. Speaking during surprise visits to….Deregulated Fuel Prices Keep Stations Stocked During The Holiday Rush, Claims Lokpobiri

various petrol stations in Yenagoa, Bayelsa State, Lokpobiri highlighted the success of the government’s decision to remove fuel subsidies.

This marks the second consecutive Christmas under President Bola Tinubu’s administration where fuel has been readily available during the holiday period. Traditionally, festive seasons in Nigeria have been plagued by fuel shortages, but this year, the deregulated market ensured that supply remained steady and prices stabilized.

Lokpobiri emphasized that while fuel prices in some stations ranged from ₦999 to ₦1,050 per litre, the deregulation has allowed for natural price fluctuations. He encouraged Nigerians to remain vigilant and report any irregularities in fuel dispensing to ensure the benefits of deregulation are fully realized.

With the removal of subsidies, fuel prices have risen above N1,200 per litre, but the ongoing price competition sparked by Dangote Refinery has slightly reduced rates. This Christmas, there were no signs of long queues or hoarding, marking a significant change from previous years.

The minister’s inspection aimed to ensure the availability and fairness of petrol prices as the government pushes forward with its commitment to deregulation and market stability.

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