NNPC Speaks On Fuel Scarcity Across Nigeria

The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, in his reaction to the crisis, expressed optimism that the long queues will clear in the coming days, adding that NNPC Ltd has adequate stock.

He said, “The Nigerian National Petroleum Company Limited, NNPCL, 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 and they have been resolved.

“It also wishes to reiterate that prices of petroleum products are not changing. It urges Nigerians to avoid panic buying as there are sufficient products in the country.”

Similarly, the Chief Executive Officer/Executive Secretary, Major Energy Marketers Association of Nigeria, Mr. Clement Isong, said, “As the NNPC Ltd said, there were logistics issues and they have been resolved. The marketers who have fuel, are working round the clock and the queues will be cleared in the coming days.”

However, the shortage of petrol witnessed in Nasarawa, Niger, Abuja, the Federal Capital Territory, FCT, last week, spread to Lagos, Oyo, Osun and other states, weekend, thus affecting the movement of goods and persons and by extension, the nation’s economy.

In Lagos, motorists and other users woke up yesterday to witness long queues at the few filling stations which had the product to sell, while many outlets belonging mostly to independent marketers, without the product, were closed.

However, some major marketers, including 11 Plc and NNPC Ltd, with stocks sold the product at over N600 per litre, while the few independent marketers with the product sold it at between N650 and N700 per litre, depending on location.

Petrol hits N900 per litre on black market
Checks by Vanguard indicated that many motorists and other users were compelled by circumstances to patronise black market operators who openly sold the product along Ikorodu Road, Isolo and other locations in jerry cans at between N900 and N1,000 per litre.

Further checks indicated that transporters increased fares by 100 per cent to cover the high cost of petrol.

For instance, commuters paid N2,000 from Mile 12 to Mile 2, a distance that used to cost them N1,000, while others paid N1,000 from CMS to Mile 2, which previously cost about N500.