Motorists in Abuja are lamenting as the queue to purchase Premium Motor Spirit (PMS), also known as petrol, resurfaced on Tuesday in Nigeria’s capital.
Long queues were noticed in some filling stations across Abuja.
This has given rise to black market operators on the streets and metropolis selling fuel to interested motorists at N250 to N300 per litre.
Mike Osatuyi, National Operations Controller, Independent Petroleum Marketers Association of Nigeria (IPMAN), said the scarcity is caused by supply gap. While some marketers claimed that the flood in Kogi, Lokoja precisely, affected the flow of supply of PMS since most of roads are flooded impassable for fuel tankers.
However, Osatuyi added that to curb the persistent fuel scarcity experienced in Abuja, the Nigerian National Petroleum Company Limited (NNPCL) has to improve the supply flow and also restrategize its plans.
NNPCL is the only importer of petrol into Nigeria and consequently regulates how much petrol is imported and distributed.
Earlier in June, the Major Oil Marketers Association of Nigeria (MOMAN) expressed concern about the current structure of petrol supply in the country, saying it cannot guarantee steady product supply.
Olumide Adeosun, chairman of MOMAN during a press conference suggested gradual price deregulation with targeted palliatives in the transportation and agricultural sector, which will ease the implementation of full deregulation in Nigeria’s downstream sector.
Some stakeholders are of the view that without deregulation, the country’s downstream sector cannot be stabilised as it will continue to experience incessant scarcity giving room to black marketets.
Comment here