…NNPC clarifies
Many petroleum product depots are currently deserted due to a lack of supplies caused by currency volatility, as the landing cost of Premium Motor Spirit (PMS), also known as petrol, has risen to N720 per litres, oil marketers have said.
Petroleum product dealers also indicated that filling stations were closing down in huge numbers on a daily basis because the industry was getting increasingly difficult to maintain. According to them, this could lead to widespread gasoline scarcity in the coming months.
It was also gathered that the cost of importing PMS into Nigeria has risen to N720 per litre, up from N651 per litre in August of this year.
Speaking at the National Executive Council meeting of the Natural Oil and Gas Suppliers Association of Nigeria in Abuja on Thursday, Benneth Korie, the National President of NOGASA, said many depots were either dry or out of stock.
He added that the worst-hit are filling stations, whose owners find it difficult to secure funds to procure products for their retail outlets. “Both the independent and major marketers are so terribly affected”, he stated.
The oil marketers noted that, while they had recently hailed the withdrawal of fuel subsidies, they had also warned and suggested that the necessary steps be taken to mitigate its repercussions for the survival of residents and companies.
NOGASA expressed worry about the mounting issues of petroleum product procurement and distribution, particularly the hardships caused by rises in petrol and diesel pump prices across the country.
According to Korie, the government must come to the industry’s help as soon as possible to save it from an oncoming collapse, which would result in a more devastating blow to the economy as a whole.
However, the NNPCL has clarified that it has no plan to increase the fuel pump price.
Reacting to the development via X yesterday, the NNPC urged Nigerians to continue buying fuel at the most affordable price. It stated: “Dear esteemed customers, we at NNPC Retail value your patronage, and we do not have the intention to increase our PMS pump prices as widely speculated.
“Please, buy the best quality products at the most affordable prices at our NNPC Retail Stations nationwide”.
