Fuel scarcity is becoming evident in Lagos and other parts of the country as private depot owners have raised the ex-depot price of petrol from N630 to N720 per litre.
Fuel stations in Lagos, Ogun, and various states are experiencing shortages because they have refused to buy the expensive fuel from private depots. Those stations that do have petrol are selling it for as much as N900 per litre.
Speaking to Punch, Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria, mentioned that many filling stations were not open for business due to scarcity of fuel in their tanks. He urged the Nigerian National Petroleum Company Limited, which is the sole importer of petrol currently, to clarify the situation to the public.
The IPMAN leader stated: “Those that shut their stations do not have fuel to sell. When you don’t have fuel, you cannot open your station. That is the problem. You know the NNPC is the sole importer of this product. I think it is in the best position to tell us what is actually going on.
“Currently, independent marketers cannot buy what the private depots are selling. They are selling fuel between N715 and N720 per litre. How much will marketers sell the product? Look at the cost of bringing it to their depots; with transportation and other depot expenses, it will be too costly for them. That is why the stations are shut down. Some marketers refuse to go and buy because they know the masses cannot afford high-priced petrol in this economy. That is the situation for now.”
Third parties, such as private depot owners, used to sell PMS to independent marketers at rates ranging from N630 to N650 per litre. Meanwhile, the NNPC typically sells petrol to major marketers at a price below or around N600 per litre.
Leaders of IPMAN have frequently urged the NNPC to supply petrol directly to them, similar to how they supply major marketers, but the NNPC has not yet responded to these requests.
Fashola urged Nigerians to avoid panic buying and only purchase what they need, ensuring that the available fuel can circulate adequately. Reports indicate that major marketers sold petrol below N650 per litre, whereas independent marketers sold it for prices ranging between N750 and N800 per litre.
