• Friday, July 19, 2024
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BusinessDay

Despite slight price hike, petrol scarcity eases in Akwa Ibom

The scarcity of petrol experienced in many parts of Akwa Ibom state has eased considerably following the increase in the pump price to N190 per litre by marketers.

BusinessDay checks revealed that many of the independent petroleum marketers have started dispensing petrol in Uyo, the state capital, almost on a daily basis, unlike what the situation was during the period of the scarcity which only saw a few marketers operating at optimum level.

The check also showed that marketers have made a minor adjustment on the pump price from N185 per litre sold before the scarcity to N190 per litre while the major marketers are selling at between N165 and N170 per litre.

During the period of the scarcity which lasted for months late last year and in early 2022, there were long queues at filling stations and many of the major marketers dispensed petrol sparingly while the independent marketers adjusted the pump price to between N200 and N250 per litre.

According to the check, only a handful of the independent marketers sold petrol at the approved pump price of N165 per litre to the surprise of many of the residents during the scarcity as the mega filling stations operated by the Nigerian National Petroleum Corporation (NNPC) located along Ikot Ekpene road in Uyo metropolis saw the demand for its major product of petrol increase at more than 50 percent.

“During the scarcity, it was possible to see long queues at the mega filling stations with cars and trucks snaking several metres,’’ one resident said.

At present, motorists drive into filling stations to fill the tanks of their cars without experiencing delays and they no longer bother about where to go for the product and do not also car about the price differentials between petrol sold by independent or major marketers, according to an investigation.

Read also: Fresh petrol scarcity as transporters hike fares on rising diesel price

It was not immediately clear whether the availability of the product being witnessed in the state was due to the subtle move towards subsidy removal which may have caused the slight upward adjustment in the pump price of the product.

It was also not clear whether there has been an increase in the landing cost of the product paid by importers which may have been transferred to the marketers.

Akwa Ibom as a major oil producer has no petroleum refinery or depot which causes the economic impact of petrol scarcity to be more pronounced in the state.

Meanwhile, former President Olusegun Obasanjo has said that Governor Udom Emmanuel would fix the economy of Nigeria if elected as president in next general elections.

A statement by Udom’s presidential campaign organisation spokesman, Bola Bolawole and made available quoted Obasanjo as making the comment when the governor paid him a consultation visit at his residence in Abeokuta, Ogun State.

In April, the Brekete Family Radio/TV show bought the N40 million presidential nomination form for Emmanuel to contest on the Peoples Democratic Party (PDP) platform.

Obasanjo was quoted as saying the governor has shown what he can do for Nigeria through his achievements in Akwa Ibom.

“Knowing you the way I do and the knowledge that you possess, which you have expressed in your brief speech, I have no doubt that if you have the opportunity, you will fix the economy of Nigeria,” Obasanjo said.

“Our country is complex but not a complicated country to govern. It needs the application of honesty, fairness, and justice.

“I know that you are a man of conscience who fears God and will apply these guiding principles in your leadership.

“You have shown what you can do for Nigeria by what you have done in your state. It is, therefore, logical that when the opportunity presents itself, you will bring what you have done in your state to bear on the larger community,’ the former president said.