The Petroleum Products Pricing Regulatory Agency (PPPRA) on Tuesday blamed the current scarcity of petrol in the country on the devaluation of the naira.
It said this had led to delay in payment to oil marketers involved in the importation of petroleum products.
Executive Secretary of the agency, Farouk Ahmed, made this known in Abuja while fielding questions from the Senate Committee on Petroleum Downstream during the agency’s defence of its 2015 budget.
Ahmed, however, assured that the scarcity would abate at the weekend.
According to him, the scarcity of petrol is being experience across the country because of delay in payment to marketers.
He said that the devaluation of the Naira was responsible for inability of the marketers to access fund from their bankers. “The recent event was actually as a result of issues we had with the commercial banks where they were unable to open credits for our marketers, especially PMS marketers.
story for the god's.
ReplyDelete