BREAKING: Fuel Scarcity Resumes Across The Nation

Fuel queues and artificial scarcity has resumed in major cities across Nigeria as retailers and the Nigerian National Petroleum Corporation (NNPC haggle over the price the petroleum product is sold at the pump.

Areas of major cities like Lagos, Illorin, Benin an Sokoto are experiencing fuel queues even as some marketers in the more remote parts of the country have unilaterally increased the pump price to N150.

The NNPC had earlier issued a statement saying it will not increase the pump price to the chagrin of marketers who are decrying the high depot price at which they buy the product.

According to the Independent Petroleum Marketers of Nigeria (IPMAN) they buy petrol at N142 per litre from depots and the Petroleum Products Association of Nigeria(DAPMAN), which has left them with little or no gains, after adding transportation and other incremental costs.

The Nation reports IPMAN South-West Chairma Debo Ahmed as saying the queue is a result of the exorbitant prices.

Ahmed said: “The queue in some parts of the country, is a pointer to the fact that major one is coming, in the event the Federal Government is unable to avert it. We( independent marketers) really want the NNPC to resolve the problem between the marketers and DAPMAN once and for all.”

The IPMAN leader said a major strike action would be undertaken by the marketers unless th government bent to their will.

We cannot continue to buy fuel at N142 per litre from DAPMAN while NNPC, which remains the only importer of fuel in Nigeria, is selling to DAPMAN at N133. 28 per litre. The margin is to high.’’

He added: “If marketers in Lagos are buying fuel at N142 per litre. How much do you think marketers in Ilorin, Kwara State will buy the product, when they add transportation cost to it The farther the distance, the outlets of the marketers, the higher the cost of transportation.

“In areas such as Benin, Akure, Kaduna, the pric of transporting fuel to their desired locations (outlets) would be higher.’’

He said marketers were battling paucity of fund and as such, they are finding it difficult to buy fuel at N142 per litre.

He said marketers were unable to access credit from banks for business.

Facebook Comments

Related posts

Leave a Comment