News
Fuel Scarcity Hits Again As NNPC Supply Collapses
Fuel scarcity has resurfaced across Nigeria as many oil marketers shut their outlets against motorists and other buyers on the back of an unfavourable working environment.
Long queues have also been sighted at various retail stations across the nation with the product, BusinessDay’s findings revealed.
In Lagos, the queue sighted at the retail outlet of the Nigerian National Petroleum Company (NNPC) Limited in King’s Way Road, Ikoyi, has found its way to Mobolaji Johnson Avenue road while TotalEnergies at Eric Moore has shut its gate to motorists to avoid congestion.
Saitara Petroleum and Gas at Orile Iganmu has shut down its operations while Tinpet Nigeria Limited, which is trying to keep the lights on, has increased its petrol pump price to N605 per litre as at 01:14 pm today.
In Abuja, many marketers who were opened have hiked their pump price from N615 per litre to N625 per litre.
Matrix Energy Limited in Delta state sent out a memo today stating that the prices of petrol and diesel have moved to N598 and N958 per litre respectively.
Independent marketers have hinged this development on the inability to import the product despite deregulation of the downstream sector on the back of market Instability, bad roads and a shortage of foreign currency, with the price of a dollar currently trading for more than N1,045 on the black market.
Since NNPC is still the only importer of the goods, it was gathered that it had supply. However, its affordability remains a bane for smooth operations for marketers.
Abdulkadir Mustapha, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Borno state, said: “The problem is that most private depots are out of stock because they are supplied by NNPC. Since NNPC is the sole importer, the private depots from which independents purchase products likewise rely on NNPC for supplies. Profiteering is also encouraged by this setup.
“We have had a difficult time picking products from NNPC in almost a week, which is why you are noticing this scarcity. The crucial aspect here is that, despite deregulation, NNPC remains the sole importer of PMS, with no other depot importing.
Some of NNPC’s portals have closed and are no longer issuing authority to lift to marketers in some of their portals.” This demonstrates that there is a substantial gap in the supply chain. However, the NNPC promised that they are anticipating products and will feed us very soon.”
Analysing the difficulties in distributing available products, Mustapha said: “Fueling a diesel truck to take products to and from the depot of origin either lagos to Maiduguri or Warri to Calabar to Maiduguri without servicing the truck and other minor and major repairs now cost N2 million.
“This shows that per litre of petrol transportation to the far north is not less than N65 per litre.” According to his analysis, the total cost per litre of petrol will stand at N657 per litre without a return from the investment or profit for the investment of N29.6 million.
The Federal Road Safety Corps (FRSC), Anambra State Sector Command, has confirmed the death of a woman in an accident at Okpoko Market on the Asaba-Onitsha Road.
The Sector Commander, Mr Adeoye Irelewuyi, who confirmed the accident to journalists in Awka on Thursday, said that the woman was hit while she was crossing the road.
He said that the accident, which occurred on Wednesday, involved a commercial tow truck with registration number XA550BMA.
“Eyewitness report reaching us indicates that the truck was towing a vehicle in an uncontrollable speed along the axis.
“The vehicle that was being towed got detached from the tow truck.
“It hit and killed a female adult, who was said to be crossing the road, while the tow truck continued its movement.
“FRSC rescue team came to the scene and took the woman to Toronto Hospital, Onitsha, where she was confirmed dead and her body deposited at the hospital’s mortuary,” he said.
While sympathising with the family of the dead, the sector commander urged motorists, especially tow truck drivers, to exercise a high level of professionalism.
He also urged the drivers to always use standard equipment and avoid speeding.
The Chairman, Poultry Association of Nigeria (PAN), Lagos State Chapter, Mr Mojeed Iyiola, said the state government’s maize palliative to members of the association made a positive impact on the sector.
Iyiola said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos.
“We received about 150,000 tons of maize in February from the Lagos State government as palliative to cushion the effect of high feed prices.
“The major benefit of the palliative is that it actually cushioned the cost of production for most poultry farmers in the state.
“The palliative was beneficial as it made the cost of some poultry produce, especially eggs to drop,” Iyiola said.
He noted that prior to the palliative, a crate of egg was sold between N3,500 and N3,700 at the farm gate, but after the palliative, it now sells between N3,200 and N3,400.
According to the PAN chair, retailers and middlemen who sell from N3,800 to N4,200 do that for their personal gain.
“We have urged our members to sell their eggs at reasonable prices following the receipt of the palliative from the government.
“We appreciate the Lagos State government for the palliative but we also urge the federal government to do likewise, to further reduce the cost of production in the sector.
“This will consequently lead to drop in the prices of all poultry produce across board,” he said.
He said the palliative was shared among financial members of the association at no extra cost.
“As an association we shared the grains equally across PAN’s eight zones in the state equally. We also mandated each zone not the sell even a grain of the maize.
“We, however, considered new poultry farmers who wanted to the join the association as beneficiaries of the palliative,” said Iyiola.
He noted that through the palliative, more poultry farmers were recruited into the association.
“The maize was shared only to poultry farmers and not feed millers, it is the major component of poultry feed formulation,” he said.
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