See NNPC reasons for fuel scarcity as filling stations adjust pump price

• The NNPC Limited has reacted to the current fuel scarcity that has hit different states in the country
• The scarcity of petrol has seen filling stations adust pump prices while black market traders take advantage
• The Corporation explained the situation and efforts taken to ensure petroleum product availability

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian National Petroleum Company Limited (NNPCL) has attributed the recent scarcity of Premium Motor Spirit (PMS) to disruptions in ship-to-ship transfers of petrol.

NNPC explains fuel scarcity Photo credit: nnpclimited
Source: Getty Images

The Nation reports that on Monday, July 8, Olufemi Soneye, Chief Corporate Communications Officer, highlighted severe weather conditions as the primary cause.

The statement reads:

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“The fuel queues in the FCT is primarily due to disruption of ship-to-ship (STS) transfer of PMS between Mother Vessels and Daughter Vessels resulting from recent thunderstorms, and the consequential flooding of trucking routes which constrained movement of PMS to Abuja from coastal corridors.”

Marketers speak on the situation

Providing further clarity, the Major Energy Marketers Association of Nigeria (MEMAN) said that heavy rainfall across the country, particularly in Lagos, hampered ship-to-ship loading.

Clement Isong, the Executive Secretary of the body who gave this explanation, noted that berthing at jetties, truck load-outs and transportation of products to filling stations created a disruption in station supply logistics.

Petrol scarcity

Legit.ng reported that petrol has been scarce in Abuja and some states since last week, resulting in pump prices increasing to as much as N720 to N820 per litre, while black market traders are quoting N1,000 to N1,200 per litre.

NNPC opens up on forcing customers to buy lubricants

Legit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPC) said Nigerians were not required to buy lubricants or engines as a condition for purchasing or dispensing fuel at its retail stations.

The NNPC also said it did not ask any of its attendants to demand from users to buy lubricants or engine oil as a condition for purchasing fuel.

NNPC’s chief corporate communications officer, Olufemi Soneye, disclosed this in a statement on Sunday, June 30, 2024.

Source: Legit.ng