The ongoing fuel scarcity in Lagos has worsened leaving many Lagosians stranded and inevitably causing hikes in transport prices. Ahead of the forthcoming 2023 elections, how long will this last?
The current fuel shortage has been blamed by the Independent Petroleum Association of Nigeria (lPMAN) for the lack of petroleum products and the difficulty that marketers have in obtaining foreign currency.
In an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos, the Operations Controller of lPMAN, Mike Osatuyi, made the comments.
It had become important, according to Mr Osatuyi, to inform the public that the ongoing petrol shortage was a result of the product’s unavailability.
He alleged that the Nigeria National Petroleum Corporation (NNPC) Ltd., had stopped importing enough petrol to meet demand in the country.
Mr- Osatuyi was adamant that due to the fluctuating gasoline supplies and rising costs at the depots, merchants could no longer sell at the set price.
“We are experiencing scarcity because the product is not available.
“The price of a litre of petrol at private depots is currently between N205 and N210 as against N162.50.
“The Nigeria National Petroleum Corporation (NNPC) Ltd., is the sole importer of refined petroleum products, which are not readily available to marketers,” he said.
Mr Osatuyi explained that his members bought petrol at over N200 per litre from private depots, making it impossible for them to sell at a regulated pump price.
“Besides, such a trend is unsustainable given the fact that private depots also sell the product at an unofficial rate different from that of NNPCL.
“When we add the cost of transportation and levies, it will run into N217 per litre. At what prices do you want marketers to sell, knowing fully well that we are in business to make a profit?
“My members are groaning over the increase in the cost of petrol from the depot and they suffer a lot to get it.”
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