The queues for Premium Motor Spirit, popularly called petrol, at filling stations in Abuja, Lagos and other states, cleared gradually between Saturday and Sunday, following the release of increased volumes of PMS by the Federal Government.
Oil marketers confirmed on Sunday that additional volumes of petrol had been released by the Federal Government through the Nigerian National Petroleum Company Limited, which resulted in the disappearance of queues at filling stations.
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More outlets along the Zuba-Kubwa Expressway in Abuja, including NNPC retail stations, Conoil, Salbas, etc, dispensed petrol on Sunday and had fewer queues of motorists, as opposed to what obtained some weeks ago.
“There has been an increase in the volumes of petrol released by the government, through NNPC, and that is what is paying out now,” the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told our correspondent.In Lagos, the long fuel queues drastically reduced following massive truck out of petrol by the Federal Government to depots since last week.
The scarcity which began in the fourth quarter of last year, saw the pump prices of PMS jump from N179/N180/litre to over N500/litre, depending on the location of the stations from the depots.
Except for short queues seen at stations belonging to NNPC, TotalEnergies and Mobil along the Lagos-Ibadan expressway, no single delay was seen at other filling stations in Lagos on Sunday afternoon.A task force of the Federal Government visited Ijegun-Egba depots in Lagos on Thursday, where an agreement was reached with depot owners to sell to marketers at government regulated price of N172/liters.
During the visit, the General Coordinator, South-West, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso, confirmed that about 1.3 billion litres of petrol had been imported into the country.
He said the 1.3 billion litres of petrol currently in the country consist of 580 million litres in the inland depots, and 690 million litres in the marine/offshore depots.
He added:
We have sufficient fuel in the country. I can assure you that in a few days time, everything will be fine because we will monitor distribution back to back and ramp up enforcement.
As of today, the inland depots have 580 million litres, the marine or offshore have 690 million litres as well. In total, that translates to 1.3 billion litres, which is about 32 days sufficiency.
The National Controller, Operations, Mike Osatuyi, who was also on ground during the patrol, said his members were ready to comply with the new pricing as long as depot owners and NNPC would keep their end of the bargain.
He stated:
All of my members are going to load at N172/litre. But what worries us is that, how can the government sustain supply to the depots, and keep prices regulated as promised.“But I want to believe that there is a commitment on the part of the government to keep supplies coming in.
Osatuyi also issued a stern warning to all IPMAN members to comply with the new price, as erring members would be sanctioned.
