A disagreement between oil marketers and the Nigerian National Petroleum Company Limited (NNPCL) has emerged as fuel queues continue to grow longer at filling stations across Nigeria. Independent oil marketers claim they have been unable to access Premium Motor Spirit (PMS), commonly known as petrol, for over a month, which has contributed to the ongoing scarcity.
The NNPCL, on the other hand, argues that it has a 30-day sufficiency of PMS and acknowledges the existence of fuel queues in the country. Many filling stations, particularly those operated by independent marketers, have been forced to shut down due to a lack of available products to dispense.
Dealers under the Independent Marketers Association of Nigeria (IPMAN), which controls over 70% of retail stations nationwide, state that they have struggled to access petrol from the NNPCL for over a month. Independent marketers have resorted to major tank farm owners for products, but these sources are selling at elevated ex-depot prices, ranging from about N601 to N605 per liter, compared to the approved NNPCL price of N577 to N578 per liter.
Chinedu Ukadike, the National Public Relations Officer of IPMAN, explained the challenges independent marketers are facing, emphasizing that the reintroduction of the petrol price subsidy is contributing to the difficulties. He called on the government to take significant actions to revamp the country’s refineries and encouraged the development of modern and modular refineries.
Another oil marketer concurred, stating that forex controls the economy, affecting not only the downstream oil sector but the entire nation’s economy. The Secretary of IPMAN Abuja-Suleja, Mohammed Shuaibu, emphasized that the government should provide forex or PMS to address the ongoing fuel queues.
While fuel queues persist, many argue against an official increase in petrol prices, as this would be met with resistance from the public. Instead, they call for the government to make forex and PMS readily available to alleviate the current situation.
The Nigerian National Petroleum Company Retail Limited has acknowledged the appearance of fuel queues in Lagos and other parts of the country, attributing the reduced depot load-out in Apapa, Lagos, over the past few days as the root cause. They assure Nigerians of at least 30 days of fuel supply and urge motorists to avoid panic buying, as distribution is expected to normalize in the coming days.