In fulfillment of its agreement oil marketers to stem the
ongoing fuel scarcity, the Nigerian
National Petroleum
Corporation (NNPC) has increased its daily supply of
petrol to Lagos from 295 trucks (9.7 million litres) as at
Monday to 310 trucks yesterday, which is 10.2 million
litres.
The Executive Secretary of Major Oil Marketers
Association of Nigeria (MOMAN), Obafemi Olawore said
marketers received the 310 trucks yesterday, adding that
if the same quantity is received today, the long queues at
filing stations will ease out by end of the week.
Olawore stated that there are vessels laden with
products that were imported by NNPC but the problem
is that the Corporation lacks storage and distribution
facilities to distribute the products, which accounts for
the current situation on ground.
He noted that when the importation ratio was 50:50
between marketers and the NNPC, the distribution
situation was not this bad, adding that the 78 per cent
importation ratio given to the Corporation may be
reviewed in second quarter.
He confirmed that many filling stations were selling at
above the regulated pump price, but explained that such
situation obtains because the demand surpasses supply
and many people sell at whatever price they like to make
more profit.
He also said marketers are not importing because of
lack of access to foreign exchange.
He said: ‘’Only NNPC has access to forex and that
hinders adequate importation. However, government
should have the courage to deregulate the downstream
sector, so there will be local production and also
encourage investors to invest in the sector. ‘’
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