Amid the Nigerian National Petroleum Company’s (NNPC) vow to end fuel queues by Wednesday, oil marketers fear the situation may grow worse. Oil marketers reported on Sunday that product loading at depots had not improved; therefore, the scarcity may get worse in some states across Nigeria......See Full Story>>.....See Full Story>>
An oil marketer revealed that the scarcity might get worse in Lagos State during the week as there was no improvement in supply.
“The scarcity may get worse in Lagos during the week. Nothing is changing yet. Though motorists still get the product to buy, although at very high rates,” the marketer disclosed.
A depot operator revealed that “depots will still get supplies this week, but definitely it will not be enough to meet desired demand to bring down the fuel crisis. The manager of a filling station in Abeokuta, Ogun State’s capital, reported a litre of petrol cost N880 on Friday.
The manager, who just identified himself as Adeyanju, stated that his principal had been unable to obtain fuel since Friday and that private depots were raising the price of fuel.
Black marketers who supplied the product in jerrycans took advantage of the circumstance, and they sold PMS for as high as N1,200 to N1,500 per litre, depending on the place of purchase.
Chief Ukadike Chinedu, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, stated that the current statewide hunger protests have exacerbated the issues in the downstream oil sector.
“Aside from the fact that there is not enough supply, the recent protests disrupted activities in the downstream oil sector. We are still struggling to sort that one out, and there is also the challenge of low supply of gasoline,” he stated.
NNPC, the sole importer of the commodity, blamed the fuel constraint on evacuation issues at PMS vessels.
Other merchants ceased importing the commodities because they couldn’t have access to the US dollar, which was essential for fuel imports.
Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, told one of our correspondents that the oil company was working hard to address the fuel supply difficulties, emphasising that the queues should be cleared by mid-week.
“It’s just an evacuation challenge out of Apapa (ports in Lagos) from the vessel. But we are working on it. It should be resolved. I’m very sure that fuel scarcity will be cleared out by Wednesday,” Soneye stated on Sunday.
He later issued a press statement on the matter, saying, “The NNPC Ltd. regrets the tightness in fuel supply witnessed in some parts of Lagos and the FCT (Federal Capital Territory), which is as a result of distribution challenges.
“The company further urges motorists to shun panic buying as it is working round the clock with relevant stakeholders to restore normalcy.”