The biting scarcity of Premium Motor Spirit (PMS), also known as petrol, which had hit the Federal Capital Territory (FCT) since over one month, became more acute at the weekend and spread nationwide, with fuel queues on a scale not seen in recent times, and the product selling for more than N1,000 per litre in some places
The scarcity led to disruption of commercial and social activities at the weekend in Abuja and the country’s commercial capital of Lagos, as well as Kaduna, Kano, Port Harcourt, Niger, Nasarawa, and several other states.
Many filling stations shut down their operations due to the severe undersupply of PMS.
Although Nigerian National Petroleum Company Limited (NNPCL) had said the shortages were caused by “distribution” challenges, it did not specify the cause of the current spike, which had lingered in Abuja and environs for over four weeks.
But NNPC denied reports that it was indebted to international oil traders to the tune of $6.8 billion and that it had not remitted revenues to the Federation Account since January, among other allegations.
Speaking on Arise Television at the weekend, the president of Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, blamed the situation on “panic buying”.
Maigandi said, “There was protest for almost seven days and most of the depots were not loading. During the protest, we informed all our marketers to sell their products in 24 hours so that there will be no side effects in terms of the purchase of the petrol.
“Immediately they called off, then we rushed to where we were supposed to load this product and we have started loading. Some of the trucks are already on the way, but we are having some challenges.
“The vessels that are supposed to bring the product to the tank farm were experiencing some delays in movement due to the rain, but that problem has been resolved.”
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