Many tankers are currently waiting at various depots in Lagos to load Premium Motor Spirit (PMS) for delivery to states across Nigeria as the scarcity of PMS worsens. Despite some trucks starting to load, the supply of the product by the Nigerian National Petroleum Company Limited (NNPC) is still inadequate. Oil marketers have confirmed the commencement of loading but are concerned that the fuel queues may still linger till Friday
Long fuel queues have been a recurring issue in Abuja, Nasarawa, Niger, and neighboring states, have also appeared in Lagos. NNPC has pledged to end the queues for petrol by Wednesday, but the black market for PMS boomed on Sunday.
NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, stated that the oil firm is working to address the fuel supply challenges and assured that the queues should clear by mid-week. However, the National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, mentioned that marketers can only supply what they receive from NNPC.
The challenges in the downstream oil sector have been worsened by recent nationwide protests, leading to disruptions in activities and compounding the low supply of petrol. NNPC is the sole importer of petrol into Nigeria, as other dealers stopped importing the commodity due to their inability to access the required foreign currency.
Black marketers took advantage of the situation, selling a liter of petrol at exorbitant prices. The inability to access PMS also led to a hike in transportation costs and long waiting times for commuters. Filling stations owned by NNPC retail and major marketers recorded the longest queues on Monday, as they sold PMS at a lower rate compared to independent marketers who depended on private depot owners for supply.
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