See the condition oil marketers give for fuel price to return to normal

• The resurgence of lines at gas stations in numerous states has been clarified by oil marketers
• NNPC Limited attributed the lengthy lines to an issue with a few ships' discharge procedures
• This is in the midst of the countrywide demonstration against hunger started on Thursday, August 1

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Oil marketers have explained that the reappearance of queues at filling stations in many states is because of the halt in the supply of petroleum products by dealers in a bid to avert losing their assets due to the ongoing nationwide hunger protests.

In order to protect their assets, marketers were instructed to shut down their stations during the demonstration. Photo Credit: Contributor
Source: Getty Images

Many states in Nigeria, including the Federal Capital Territory, Abuja, witnessed varying degrees of queues about two weeks ago, which the Nigerian National Petroleum Company Limited blamed on a hitch in the discharge operations of a couple of vessels.

While the company and stakeholders worked together to tackle the challenge, the nationwide protest against hunger and economic hardship commenced on Thursday, August 1, 2024, disrupting petrol supply again and causing the reappearance of queues in some states.

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What IPMAN said

The national public relations officer of the Independent Petroleum Marketers Association of Nigeria, Chief Chinedu Ukadike said that marketers were advised to close their stations during the protest to avoid losing their assets.

He also stated that many tankers did not load products during the first and second days of the protest, stressing that this distortion in the supply chain would cause shortages in states where the products would have been supplied.

“Although the National President of IPMAN, Abubakar Maigandi, urged independent marketers to go out and do their businesses normally and asked the security agencies to protect our facilities, it is pertinent to note that as at the time we were about to sell, we were called by the security agencies to step down the selling of products at that time.“They said this is because they want to be able to control the situation during the protest and the vandalism of marketers’ properties. Now that the trucks are no longer moving due to this protest, the depots are not working, the truck drivers are not driving, particularly during the first and second days of the protest, these issues have disrupted the supply of petroleum products. So it will result in scarcity at the filling stations,” Ukadike stated.

Sources confirmed to The PUNCH that the depot owners refused to open for business over fears of violence.

On Sunday, petrol was scarce in Warri, Delta State, and environs as the commodity was dispensed at filling stations in the metropolis at between N850 and N1,000/litre.

Most dealers attributed the scarcity to the non-loading of products at the depots by members of the Petroleum Tanker Drivers due to the ongoing nationwide #EndBadGovernance protest.

They, however, expressed hope that normalcy would return if and when the protesters sheath their swords and return to work.

Filling stations sell fuel at new price

Legit.ng reported that filling stations have increased their pump price for Premium Motor Spirit (PMS), popularly known as petrol, amid ongoing scarcity that started in Abuja and has spread to various parts of the country.

Daily Trust reports that fuel prices have surged, ranging between N800 and N900 per litre in some states, significantly higher than the official pump price.

Black marketers have also taken advantage of the situation, selling a litre of petrol for N1,000 to N1,500.

Source: Legit.ng