Oil marketers shut filling stations as fuel scarcity hits Lagos

Oil marketers shut filling stations as fuel scarcity hits Lagos

On Sunday, there were signs that fuel scarcity had returned to Lagos and its surrounds, as numerous oil marketers closed their outlets against vehicles and other buyers.

Last week, there was a scarcity in Abuja and its environs, which development oil dealers attributed to terrible roads and the high cost of fuel for distribution.

But checks by @goldmynetv, over the weekend, indicated that many independent and major oil marketers were not open for business, leaving only the NNPC Limited to attend to customers in most parts of Lagos visited.

It was gathered that NNPC Limited has supply because it remains the only importer of the product.

Despite deregulation, other operators have not been able to import petrol because of market uncertainty and lack of foreign exchange, currently standing at more than N1,000/dollar in the informal market.

In a telephone interview with newsmen, yesterday, the President of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Okoronkwo, said actions had been taken to address the situation.

He said: “Stakeholders have been meeting and measures have been taken to enable oil marketers to access foreign exchange at a rate that will not disturb the current price of the product.”

However, checks by @goldmynetv in Abuja showed that most major marketers which were opened have hiked their pump price from N615 per liter to N625 per litre.

Similarly, the Public Relations Officer, of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chief Chinedu Ukadike, had said: “The issue we have is that most of the private depots have gone out of stock because they get supply from NNPCL. Since NNPC is the sole importer, these private depots that independents buy products from also depend on the NNPC for their supplies. This arrangement is also encouraging profiteering.

“We have been finding it very difficult to pick products from NNPC in the past five days and that is why you are seeing the skeletal scarcity. It is not major yet. The important point here is that despite the deregulation, NNPC is still the sole importer of PMS”.