On Saturday, marketers from the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) explained the recent scarcity of Premium Motor Spirit (PMS) in the Federal Capital Territory (FCT) and some surrounding states.
PETROAN National President, Dr. Harry Billy, clarified that their sole supplier is the Nigerian National Petroleum Company Limited (NNPCL). “When there is no fuel, it means the state-owned oil firm has not supplied,” he told The Nation. “We source our product from NNPCL. So whenever NNPCL gives us the product, we will deliver.”
“We are not the importers or the ones keeping a daily inventory. We are the extension that ensures their efficiency. If there is scarcity like this, as seen yesterday (Friday), it means our principals are working on the process to buy PMS for our members.”
IPMAN National President, Alhaji Abubakar Maigandi, also commented, saying, “Loading is very slow at the depots.” Regarding depot prices, he noted that private depots in Lagos had increased their prices from N630 to between N650 and N715 per litre, while NNPCL’s depot price remained at N570/litre.
Over the weekend, tension rose in the FCT as only a few retail outlets, mostly NNPCL stations, were open to customers. NNPCL sold the product for N617/litre, resulting in long queues, while other stations sold it for around N690 per litre, with motorists scrambling to get fuel.
Other stations in the remote states especially in the Northern states sold the product for around N800/litre depending on proximity.
