Oil Marketers Blame NNPC For Fuel Scarcity, Price Hike in Lagos

The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, has said on one of the factors responsible for the increase in fuel pump prices in Lagos was that none of the Nigerian National Petroleum Company Ltd. (NNPC) depots has Premium Motor Spirit (PMS).

Another factor that has contributed to the problem is the hike in private depot prices of the PMS, hence, the cause of the fresh fuel queues that have resurfaced across Lagos.

This was disclosed on Tuesday by Alhaji Dele Tajudeen, the Chairman of IPMAN Western Wone.

The association also noted that none of the Nigerian National Petroleum Company Ltd. (NNPC) depots has PMS, another factor that has contributed to the problem.

Tajudeen, while condemning the increase, said that there had been an increase in the depot price of fuel from N148.17 per litre to N178 per litre since last week.

According to him, none of the Nigerian National Petroleum Company Ltd. (NNPC) depots has products and the private depots took advantage of the situation to hike the price.

“The only option for our members is to opt for private depots to keep our business moving.

“We are totally against the increase because it will affect our profit margins and the masses.

“Some private depots who have the product, deliberately, refused to sell for reasons best known to them,” he said.

The IPMAN chairman said that the marketers should not be blamed for the increase in pump price, adding that “selling at N170 per litre is not realistic”.

Tajudeen said, “Therefore, our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun and Oyo states, while we will sell between N200 and N210 in Kwara, Ondo, Osun and Ekiti states.

“Most of the tank farm owners have justified this increase because of different charges, among which are vessels charges paid in dollars.

“We are equally calling on the management of the Nigerian National Petroleum Company Ltd. (NNPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to investigate the arbitrary increase in fuel price by the private depot owners.”