Despite a 17 kobo reduction in the ex-depot price of the commodity, Premium Motor Spirit, also known as gasoline, queues may still form in many states, oil marketers warned on Wednesday.
The Nigerian National Petroleum Company Limited’s supply of PMS, according to members of the Independent Petroleum Marketers Association of Nigeria, is still insufficient for many states outside of Lagos and Abuja.
According to The PUNCH, they said, though the queues for petrol were currently abating in major cities like Abuja and Lagos, most independent marketers in other states were still lacking products to dispense.
NNPC had promised that independent marketers, who control about 85% of the filling stations in Nigeria, would begin receiving the product at this new price when it reduced its ex-depot price of gasoline from N148.17/litre to N148.
Reacting to this, the Secretary, IPMAN, Abuja-Suleja, Mohammed Shuaibu, said, “The price use to be N148.17/litre, but now 17 kobo has been removed and it is now N148/litre. It is not something big. However is that the solution?
“Even at N148.17, the marketers are ready to buy and distribute. Independent marketers control 85 per cent of the supply chain. If the fuel is available, they should mobilise independent marketers from Maiduguri, Kano, Sokoto, Katsina, Nasarawa, Kogi and Abuja.
“Let the marketers move with their trucks to wherever these products are, and distribute them. I want to assure you that if they do that, within one week the problem of fuel scarcity will be resolved.
“But when the commodity is scarce, of course, you should know that the demand will be high. On the other hand, when it is surplus, the market forces will force demand down.”
He added, “So if they say they have slashed the price, it is good, but where is the product? They keep telling Nigerians not to panic, and that they have products. But it is only in major city centres that they have concentrated right now in terms of product supply.
“What about the other states and the suburbs of Abuja, places like Zuba, Karu, Kuje, Gwagwalada, etc? Are they getting the required supply there? If they are not getting, then there is going to be pressure inside the city centre.”
