The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured President Bola Tinubu of a 20-day petroleum sufficiency for the country amidst recent fuel scarcity challenges. Farouk Ahmed, CEO of NMDPRA, disclosed this following a meeting with the President to discuss the fuel scarcity affecting Abuja and other parts of Nigeria.
Ahmed explained that the recent fuel scarcity was primarily caused by logistical disruptions stemming from rough seas and flooding in Lagos. He detailed that the 20-day sufficiency includes 12 days offshore and over 8 days onshore.
“The delays in offshore ship-to-ship operations were due to safety concerns caused by volatile sea conditions,” Ahmed stated. He further noted that flooding in Lagos hindered truck loading and movement, exacerbating the scarcity.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) attributed the fuel scarcity to rainfall and poor road conditions. IPMAN’s National President, Abubakar Maigandi, assured that marketers were working to restore fuel availability, albeit acknowledging possible price adjustments due to increased depot costs.
The assurance from NMDPRA and ongoing efforts by stakeholders aim to alleviate the fuel supply challenges and stabilize prices across Nigeria.