There are growing concerns that the persistent fuel shortage across the country may be linked to decisions by some marketers to withhold fuel in anticipation of a price increase.
Sources close to the situation revealed that several filling stations are holding back on sales, expecting prices to surge with the upcoming release of petroleum products from the Dangote refinery.
A newspaper recently reported that independent marketers are expecting the price of Premium Motor Spirit (PMS) to rise to N600 per litre once it becomes available. However, the management of Dangote refinery has denied any intention to set such a price. “We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet,” said Anthony Chiejina, spokesman for the Dangote Group.
Despite this denial, reports suggest that some marketers are still hoarding fuel in anticipation of a price hike. The Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) has responded by threatening to shut down any filling stations that refuse to dispense fuel.
When contacted, the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL), Olufemi Shoneye, reassured the public that there is adequate supply. “In terms of supply, I can confirm that we have supply,” he stated on Friday.
Nonetheless, reports from across the country indicate that fuel scarcity persists, with long queues forming at the few major filling stations that are still dispensing. In some independent stations, the price per litre has nearly reached N1000.
