Fuel scarcity eases gradually after five months

Alade Abayomi ADeleke
Alade Abayomi ADeleke
Fuel pump

FThe severe fuel scarcity that has plagued the country since November 2022 is gradually phasing out, as petroleum products are already being made available at filling stations with little or no queues.


This development follows the efforts of the Nigerian National Petroleum Company Limited, the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, Tankfarm Owners and Operators Association, DAPPMAN and other critical stakeholders, in ensuring that the five months old situation was brought under control.


Ambusiness had reported that the NNPCL Chief Executive Officer, Mele Kyari, on Monday, during an interview, assured that by next week, queues would have disappeared completely at filling stations.


The improvement is hinged on the improved supply of the product witnessed since last weekend as well as compliance of depot owners with the N172 per litre ex depot price of petrol.


The noncompliance of petrol marketers to sell at the regulated N172, The Nation reported was as a result of IPMAN members claiming they bought the product for as much as N241-N270 per litre ex depot at a time when official ex depot price sold at N148 per litre; leading to their selling at a pump price of between N300 and N350 per litre at the pumps.


The Chairman, Ijegun-Egba Tankfarm Owners and Operators Association, Lagos State, Arebowale Olujimi, disclosed that petrol is now fully available in the country and is being sold at the Federal Government regulated price of N172 per litre in all the depots across the country.


Olujimi made this known at a media parley in Lagos, on Thursday, as he evealed that so far in February, the NNPCL has given over 150 million litres to marketers.


“We are telling Nigerians and confirming it to everybody that this product is coming at the government regulated price and that Nigerians can trust us and trust this business, but the very key factor is for the NNPCL to ensure consistency of supply of the product,” he assured.


Olujimi also assured that the product would be sold at retail end of the business at affordable prices which government has fixed for each and every areas where Nigerians could get the product at the right pump price and at all the filling stations across the country. He warned that any depot found selling the product at more than N172 per litre ex depot price to all the retailers, will be made to face the full wrath of the law.


The ease is reportedly expected to spread round the country by the weekend as other major marketing companies are already taking a large chunk of the product to the north central up to the northwest and to the northeast.


“Rainoil is covering as much as the South-south, Southeast and majors parts of Lagos and its environs in the Southwest. It’s a large spread, about 33 percent to 35 percent of the entire nation distribution comes from this particular neighbourhood (Ijegun) and we are giving Nigerians the assurance that petrol is available. More vessels will be coming in the week and next week, so the product is here and I want to assure Nigerians and the general public that a 150 million litres coming from here will be distributed across the country at the right regulated price,” Olujim further reassured.


The National Operations Controller, IPMAN, Mike Osatuyi, said with this new price, his members would be appropriately brief while any depot that sells above the N172 per litre should be reported.


Osatuyi, expressed the need to effectively sustain the supply so that there would not be any gap. He said there is already a surveillance committee monitoring IPMAN members against selling above the government regulated price.


“We are complying with the government rules and regulations on this; we are fully in support of government activities to ensure the flow of the product across the country at the regulated price,” he stated.


While thanking the federal government for intervening, Osatuyi however expressed concern on the sustainability of the supply at the regulated price. “What worries us as IPMAN members is how the government will sustain the supply to the system; we don’t want a situation where our members will buy two trucks today and it will take another three weeks before we get to buy at N172 per litre ex depot again, that’s the crux of the matter,” he worried.

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