CBN Governor Laments Effect of Oil Theft on Economy, Shortage of Fuel Supply
CRUDE OIL TANKER
By Our Reporter
Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele is full of lamentations over the effect of oil theft on Nigeria’s economy as well as shortage of fuel supply.
Emefiele who spoke to newsmen after the Monetary Policy Committee (MPC) meeting said while global oil prices had risen, there was shortage of fuel supply and other petroleum products in the country.
He called on the Nigerian National Petroleum Company (NNPC) to do all it could to ensure that the problem is addressed.
He added that adequate supply of petroleum products would address the problem of arbitrary increase in prices of petroleum products by oil marketers.
Emiefele also said the planned take-off of Dangote refinery this year is equally expected to address the issue of petroleum products supply in Nigeria.
On rising food prices, the CBN Governor said this will not continue with the security agencies doing their best to check the activities of bandits stopping farmers from going to farm.
He disclosed that if farmers can go back to farm, seeds, fertilizer and other necessary inputs will be made available to them.
He said “We are making all those available. And that is why we still remain reasonably optimistic that food prices would moderate in 2022.”
Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele is full of lamentations over the effect of oil theft on Nigeria’s economy as well as shortage of fuel supply.
Emefiele who spoke to newsmen after the Monetary Policy Committee (MPC) meeting said while global oil prices had risen, there was shortage of fuel supply and other petroleum products in the country.
He called on the Nigerian National Petroleum Company (NNPC) to do all it could to ensure that the problem is addressed.
He added that adequate supply of petroleum products would address the problem of arbitrary increase in prices of petroleum products by oil marketers.
Emiefele also said the planned take-off of Dangote refinery this year is equally expected to address the issue of petroleum products supply in Nigeria.
On rising food prices, the CBN Governor said this will not continue with the security agencies doing their best to check the activities of bandits stopping farmers from going to farm.
He disclosed that if farmers can go back to farm, seeds, fertilizer and other necessary inputs will be made available to them.
He said “We are making all those available. And that is why we still remain reasonably optimistic that food prices would moderate in 2022.”
FOLLOW US
About Post Author
