The Chairman of the House of Representatives Committee on Petroleum Resources, (downstream), Mr Dakuku Peterside has stated that the lingering fuel scarcity across the country may persist till the third quarter of 2013.
Mr Peterside who was a guest on Channels TV’S weekend programme, Sunrise, explained that the problem will linger on because “we didn’t plan effectively for the importation.”
He listed three problems which included the failure of banks to further finance the importation of PMS, due to the revelations at various committees probing the oil sector.
According to Mr Peterside, the Department of Petroleum Resources (DPR) issued 39 licences for the importation of fuel but only 19 of the importers have been able to deliver.
The other problems are the vandalisation of a major pipeline in Arepo and the failure of the Ministry of Finance to pay some fuel importers.
The lawmaker lampooned the plethora of investigations not concluded in the nation’s oil sector.
PIB in 2013
The lawmaker also revealed after series of delays, the passage of the Petroleum Industry Bill (PIB) should be concluded by the second quarter of 2013 when it may be signed into law.
Honourable Peterside gave the assurance, adding that the government should be commended for introducing the bill which according to him is the first attempt to reform the petroleum industry after the Petroleum Act of 1969.