Zambian President Hakainde Hichilema on Tuesday convened an urgent meeting with oil marketing companies aimed at protecting the country from the potential impact of rising fuel prices triggered by ongoing tensions in the Middle East.
The meeting was also attended by officials from the Energy Regulatory Board and the Ministry of Energy.
Discussions focused on safeguarding the country’s recent economic gains from external shocks affecting global petroleum markets.
During the engagement, President Hichilema warned against fuel hoarding and any form of market manipulation, stressing that the government will not hesitate to take decisive action against entities attempting to destabilise the market.
A statement issued by Chief Communication Specialist Clayson Hamasaka said President Hichilema noted that Zambia’s economic progress—anchored on debt restructuring, effective drought response, and sustained growth—remains vulnerable to global developments and must be protected.
He emphasised that preserving these gains is critical to maintaining economic stability and shielding citizens from rising living costs.
President Hichilema further directed the Ministry of Energy to work closely with stakeholders to develop short-, medium-, and long-term measures to ensure a stable and affordable petroleum supply across the country.
The ministry is already collaborating with industry players to implement strategies aimed at maintaining consistent fuel availability nationwide.
The government also indicated that emergency interventions previously activated during the drought period remain in place and can be deployed to respond to the current situation if necessary.
Meanwhile, the National Oil Marketing Association has confirmed continued engagement with the government, stating that the industry is working collaboratively with authorities to manage the potential impact of the Middle East conflict on Zambia’s fuel supply and pricing.
The move underscores the government’s commitment to protecting the country’s economic stability amid evolving global challenges.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.