President Muhammadu Buhari has clearly informed that the current fuel scarcity been experienced nationwide is as a result of the refusal of some stakeholders in the petroleum sector to respond to change.
The President made this disclosure during his presentation of the 2016 budget to the National Assembly today, December 22nd in Abuja.
He said: "the current fuel scarcity with long queues at petrol stations all over the country causing social dislocation is very unfortunate. Government profoundly apologises to Nigerians for this prolonged hardship and misery. It is as a result of market speculations and resistance to change by some stakeholders"
President Buhari also doused fears of a possible reversal of petrol pump price to N97. He disclosed that the Petroleum Products Pricing and Regulatory Agency (PPPRA) has been directed to do all within its capacity to keep petrol pump price at N87 "for now".
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