Petrol Marketers, NNPC Finally Speak on Petrol Prices And Scarcity in 6 States

• The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed that the current petrol scarcity is due to supply issues
• IPMAN stated that the NNPC had met with the marketers and assured them of ample supply of the product
• The Nigerian National Petroleum Company Limited (NNPCL) said there has not been any adjustment in the prices of the product

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the current petrol scarcity in parts of Nigeria is due to logistic challenges impacting petroleum product supplies across the country.

Findings show that several filling stations, including NNPC retail outlets, were shut, and customers were told there was no petrol.

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Petrol scarcity grounds six states

Commuters across some states, including the Federal Capital Territory, were seen stranded at some bus stations as only a few transporters operated due to the scarcity.

Also, commuters reported a rise in transportation costs as transport operators hiked fares to cover time spent at petrol stations.

According to a BusinessDay report, the IPMAN National President, Abubakar Maigandi, said the NNPC had just met with the association members and has assured them of enough supplies.

Meanwhile, the NNPCL has blamed the scarcity of logical issues affecting product distribution in these areas.

NNPC spokesman Olufemi Soneye disclosed this in a statement in Abuja on Thursday, April 25, 2024.

Soneye said that logistics issues have since been resolved, adding that there will now be a total supply in the affected areas.

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Soneye cautioned against panic buying as there is no shortage of products in the country.

The NNPC mouthpiece said the prices of petroleum products had remained the same across the country.

He said:

“The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is a result of logistics issues that have been resolved. 

“It also wishes to reiterate that the prices of petroleum products are not changing. 

“It urges Nigerians to avoid panic buying as products are sufficient in the country,” Soneye said. 

Filling stations shut down

Legit.ng reported that on Wednesday, April 24, due to a shortage of Premium Motor Spirit, PMS, there were long lines at the few locations that sold the product, forcing filling stations to close in Abuja and roughly five other states.

The shortage of PMS that transporters needed to operate their vehicles left thousands of commuters stuck at several bus stations in the Federal Capital Territory, Nasarawa, Niger, Gombe, Sokoto, and Anambra states.

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Punch reported that transportation fares in the impacted states increased because only a few carriers had access to the product.

Source: Legit.ng