There are indications that petrol shortage might emerge as the Private Depots have increased the price of Premium Motor Spirit, (PMS), or petrol price to N157 per litre, from N148/litre in different parts of the nation.
The increase has discouraged the Independent Petroleum Marketers Association of Nigeria, (IPMAN), members from buying or lifting the products from private depots.
According to the IPMANs National vice-president, Abubakar Maigandi, the N9/litre difference, which is about a 6.08% increase, has culminated in gradual withdrawal of sales.
He explained that the marketers are reluctant to lift the product since the Federal Government would not allow them to sell above the regulated band of between N162-N165 per litre, saying it has given room to skeletal traces of petrol scarcity in some retail outlets.
Maigandi, however added that IPMAN has opted to meet the Chief Executive Officer (CEO) of Nigerian Midstream & Downstream Regulatory Authority, Engr. Ahmed Farouk.
He revealed that the association would ask the Authority to grant members of the association direct product allocations instead of allowing them to depend on a third party.
Maigandi also noted that IPMAN would ask the Authority to pay the outstanding debt that the defunct PEF owes the marketers.
He further stated that the Fund owes each marketer up to seven months debts.
However, the Nigerian National Petroleum Corporation (NNPC) allayed fears of a shortage of products.
Speakingwith newsmen, its Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, said, We have sufficient product that can last over 30 days. If they are panicking due to the change that followed the reforms, it is unnecessary.
