Marketers have blamed the recent shortage of petrol on a supply issue with Nigerian National Petroleum Company (NNPC) Limited, the nation’s main oil supplier.
In a live TV interview on Monday, Dr Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), revealed this.
Nigerians are lining up at gas stations all over the country as a result of the recent gasoline shortage, which has disrupted several economic activities in states around the Federation.
After hours of sweat and competition, some drivers were fortunate enough to purchase petrol at select retail outlets for between N700 and N1200 per litre; however, others weren’t so fortunate because several retail outlets were closed, citing a shortage as their reason.
Due to the scarcity of the premium product, illicit marketers were charging as much as N2,000 per litre of fuel in certain states.
In addition to stranding thousands of commuters at bus stops with transport fares up to double the previous amounts, snake-like queues at filling stations in Lagos, Abuja, Port Harcourt, Kaduna, Sokoto, Kano, and other locations have made traffic situations in the states worse.
In light of the persistent closures of outlets owned by independent oil marketers, it is noteworthy that NNPC retail outlets in Lagos continue to sell petrol at N568 per litre. The problem is made more difficult for drivers by the challenging process of waiting in line for hours and fighting for gasoline, which makes the procedure more and more impractical.
Mr Olufemi Soneye, an NNPC spokesperson, stated last Thursday that “tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is due to logistics issues and that they have been resolved.”.
In addition, he stated that there won’t be any changes to the pricing of petroleum items and advised Nigerians not to panic buy because there are sufficient products available in the nation.
The Head of PETRONAN, Billy Gills-Harry, acknowledged NNPC’s attempts to find a solution, though he said the supply issues remain unresolved.
President Bola Tinubu eliminated the fuel subsidy in May of last year, causing the price of gasoline at the pump to increase from roughly N184 to over N600 per litre. Nigerians are suffering greatly as a result of the decision to deregulate the oil industry, as the cost of necessities has skyrocketed.
The president defended his decision once more on Sunday, telling world leaders at the World Economic Forum in Riyadh, Saudi Arabia, that the elimination of the petrol subsidy was an essential step in keeping the nation from going bankrupt.
