The Independent Petroleum Marketers Association of Nigeria (IPMAN) has projected that the ongoing petrol scarcity, which is spreading to more states across the country, will take at least two weeks to normalize. Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) has assured the public that it possesses adequate stock of the product.
According to Chinedu Ukadike, the Public Relations Officer of IPMAN, the scarcity is primarily due to importation bottlenecks, slow pace of marketers’ license renewal by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and maintenance activities at European refineries. He noted that only a fraction of marketers have had their licenses renewed by NMDPRA, leading to a disruption in the supply chain.
Ukadike explained that the scarcity has resulted in long queues at filling stations across affected states, with some stations closed due to unavailability of the product. He highlighted the impact of these challenges on the average consumer, including increased transportation costs and inflation.
In response, NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye, affirmed that the logistical issues causing the tightness in petrol supply have been resolved. He reiterated that there is no change in the prices of petroleum products and urged Nigerians to refrain from panic buying, emphasizing the availability of sufficient products in the country.
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Similarly, the Major Energy Marketers Association of Nigeria (MEMAN) assured that the fuel queues would be cleared in the coming days, echoing NNPC Ltd’s statement on the resolution of logistical issues.
However, the scarcity has led to adverse effects on transportation and the economy. In Lagos, motorists encountered long queues at filling stations, while independent marketers sold petrol at elevated prices. The situation was mirrored in other states like Kano, Kaduna, and Sokoto, where filling stations remained shut or sold petrol at exorbitant prices on the black market.
The scarcity has left commuters stranded at motor parks and prompted transport operators to consider fare adjustments. Nonso Ubajaka, President of the Associate of Luxury Bus Owners of Nigeria, highlighted the negative impact on the transportation sector, noting reduced patronage and profitability.
As the nation grapples with the petrol scarcity, stakeholders urge the government to address the underlying issues swiftly to mitigate further disruptions and alleviate the hardships faced by citizens.
Source: VanguardNGR