Marketers Reveal Reason For Fuel Scarcity

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Marketers Reveal Reason For Fuel Scarcity

Marketers have disclosed that fuel scarcity has been recurrent in Abuja as a result of the high cost of transporting the product from the ports.

The president of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Okoronkwo, stated on Thursday, June 9, that the problem was caused by the high cost of diesel, used by petrol tankers.

Read Also: Nigerian Airlines To Shut Down In Three Days Over Aviation Fuel Scarcity

In his words:

The huge amount spent on running the diesel trucks to transport fuel to Abuja is the reason for the ongoing fuel queue. Well, you will agree that currently there is no fuel queue in areas like Lagos and Port Harcourt where the proximity of getting the products are not far.

You see there is no fuel scarcity in those areas. The issue is diesel, the truck used in bringing it, the cost is very high now. The current N165 per litre pump price for petrol cannot fit into the present realities without the pricing template being reviewed.

And I think that is why NNPC is doing everything now to see how they can cushion the effect.

He affirmed that the issue of fuel scarcity will soon be over.

Meanwhile, cost of transport increased after the prise of diesel also rose.

Read Also: Fuel Scarcity: Nigerians React To Shut Down Of Filling Stations, Long Queues In Lagos, Abuja

The crisis in Abuja began in 2021 after the government announced plans to remove fuel subsidy, resulting in a major shortage in major cities in Nigeria, resulting in queues at filling stations.

When the queues got more frequent again in May, the Nigerian National Petroleum Corporation Limited explained that it was due to low loadouts at depots, which usually happen during long public holidays.

However, the fuel scarcity is still very much present in Abuja; and black market sales have thrived with hawkers lining busy roads with jerry cans filled with petrol.

While filling stations sell a litre for N165, the black market vendors sell theirs between N300 and N400.

According to the government, the discovery of high amounts of methanol in imported fuel caused the shortage as authorities tried to replace the off-spec product across the country.

NNPC is yet to give any reason for the continued shortages.

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