Fuel crisis worsens as NNPC releases 33m litres of petrol for Lagos

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Determined to ease the discomfort currently experienced by motorists and commuters in Lagos and its environs, the Nigerian National Petroleum Corporation (NNPC) said it has supplied an additional 33 million litres of  Premium Motor Spirits (PMS) to the Major Oil Marketers Association of Nigeria (MOMAN) for onward distribution to fuel stations across the metropolis.

Acting Group General Manager, Group Public Affairs Division of the Corporation, Dr. Omar Farouk Ibrahim stated in a statement that the extra volume of 25, 000 metric tonnes of fuel, the equivalent of 33 million litres of petrol  was supplied to the marketers  as part of measures by the oil giant to end the artificially- induced scarcity.

“While we intensify our ongoing direct monitoring of fuel stations across Lagos and its environs, we are providing the extra volume of product to eliminate the noticeable queues arising from the induced scarcity,’’ Dr. Ibrahim stated.

The NNPC appealed to marketers and members of the public to refrain from hoarding and panic buying.

MOMAN Executive Secretary, Obafemi Olawore, confirmed that its members received 30 million litres of petrol from the NNPC, stressing that the supplies are expected to be increased to 50 million litres by today (Tuesday) with additional 20 million litres from the NNPC.

According to him, Conoil and NIPCO have also imported 44 million litres of petrol. “Conoil and NIPCO have brought in 22 million litres each, which brings us to another 44 million litres.

“Since the first quarter import allocation was given by the Petroleum Products Pricing Regulatory Agency last week, the marketers began importation and other major marketers are expected to bring their own before the weekend,” he said.

With about 100 million litres injected into the system and more expected to land in the country by the weekend, Olawore said consumers would soon begin to feel the impact of the fresh supply.

“By Thursday, we will start seeing the impact of the current development in fuel supply,” he said.

The fuel scarcity situation worsened on Monday as many filling stations were shut to customers, while the few ones that had the product recorded long queues of desperate motorists struggling to buy fuel.

Some marketers in Lagos were already making undue profit from the situation by selling the product well above the N97 official pump price.

 

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