Petrol scarcity persists despite NNPC’s claim of increased output, product sufficiency

…FG to withdraw oil marketers license over widening black market

Fuel queues linger in Abuja, the Federal Capital Territory of Nigeria as residents search for petrol to power their businesses.

BusinessDay’s visit to some filling stations showed that the price of PMS currently ranges from N617 to N980 per litre. While the black marketers sell at N10,000 per 10-litre jerrycan.

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Many retail stations of the Nigerian National Petroleum Company (NNPC) Limited have remained locked for some time, even though Mele Kyari, the group chief executive officer of the company recently announced that the company has reached a new peak in crude oil production, higher than last three years.

Also, Olufemi Soneye, the chief Corporate Communications Officer, NNPC in a statement explained that the tightness in fuel supply being witnessed in some parts of Lagos and the FCT, is as a result of distribution challenges.

He also urged motorists to shun panic buying, stating that company is working round the clock with relevant stakeholders to restore normalcy.

The scarcity of fuel has led to a boom in the black market, as petrol hawkers prowl fuel stations with products in Jerry cans.

Ogbugo Ukoha, executive director, distribution systems, storage, and retailing infrastructure, of the Nigerian Midstream, Downstream Petroleum Regulatory Authority (NMDPRA) warned marketers to desist from selling the products to black marketers, stating that they are a source of security concerns to Nigerians.

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Ukoha who addressed a manager at one of the Total Retail Stations in Abuja, warned that petrol marketers risk losing their licenses if caught selling petrol to buyers in jerrycan or underselling the product to customers.

“Our understanding is that they buy this fuel from here and there is no other place they manufacture it from. As tomorrow, if we see peddlers around, we will not ask any questions, but withdraw your license,” Ukoha said.

“Please take it serious, it is posing security concerns to Nigerians. No selling in gericans, no under-dispensing and ensure and that peddlers are not within your vicinity, this include across the road and around here. We will hold you responsible from today, if we see that going on.”