NNPC sells petrol for N148; private depots, N215 as scarcity of fuel continues

With the Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN, persistence to supply gasoline to marketers at N215 per litre yesterday, the nationwide scarcity of petrol still persists nationwide.

When compared to the N148 per litre being charged at the depots of the Nigerian National Petroleum Company Limited, NNPCL, this represents a surplus of N67 per litre or 31%.

While the main oil marketers sell at their filling stations for N170 per litre, independent marketers who use the private depots charge above N220 per litre.

A number of filling stations across the nation were closed, and those that still had stock continued to sell the product to motorists and other parties for much more than the official price, while those selling for less than N200 had long queues, ValidViewNetwork reports.

Fuel stations in Abuja that sold the product at the government-mandated N169 had long queues while independent traders selling the product for N220 to N300 had none.

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The scenario was essentially the same in Lagos, with the minor exception that most filling stations selling the product at the government-mandated price did not have it on hand while those selling it for N220 also had queues.

Black markets could be found all throughout Lagos, but they were most prevalent in Festac Town, Maryland, Ikeja, Yaba, and Mile 2 neighborhoods where the operators charged between N300 and N400 per litre, depending on where they were.

Drivers have been using the opportunity to raise prices on local and interstate routes around the country.

Chairman, National Union of Road Transport Workers, NURTW, Kebbi Central Motor Park (Sabuwar Tasha), Birnin Kebbi, Alhaji Garba Dan-Malam, who confirmed the development, said: “As leaders, we keep advising our members to be patient; that things will be better. This is because we have hope in the current administration. As motorists, we are not only concerned with the high cost of fuel but also the high costs of vehicle spare parts.

“A typical example is just last year, we used to buy a tyre from N27,000 to N28,500 but now it goes for between N59,000 and N61,000. However, those travelling outside the country will bear witness that the current inflation is not restricted to Nigeria. It is a global trend that engulfed economies across the globe.”

The worst scenario is in Lagos, where transport companies have increased fares by more than 100%. Commuters wait for unavailable buses at major bus terminals as bus drivers blame fuel scarcity for the paucity of available buses, despite the fact that many of the drivers are lined up at gas stations.

Another driver stated that the few drivers who purchased their fuel from the blackmarket had no choice but to raise their prices in order to make a profit.

Motorists in the Eastern region of the nation have also raised their costs, blaming the situation on high gas prices set by marketers.

As part of preparations to alleviate Nigeria’s prolonged fuel crisis, NNPCL and independent petroleum marketers have come to an agreement on plans to guarantee the lifting of petrol in Lagos, Port Harcourt, Calabar, and Oghara (Delta State) in January 2023.

At a meeting between the NNPCL and the independent marketers, the decision was made, according to information obtained by Validview Network over the weekend. To improve distribution, they are anticipated to transport the goods to other regions of the country.

It was clear from this that the choice was made in response to a complaint made by the Independent Petroleum Marketers Association of Nigeria, or IPMAN, whose members had experienced prejudice throughout the distribution process.

National Controller Operations, IPMAN, Mike Osatuyi, who confirmed the development, said: “It is true that the NNPCL has agreed to supply the product directly to our members in Lagos, Port Harcourt, Calabar and Ogara. We are happy about it and will do our best to enhance distribution nationwide from January 2023.”