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Business News of Friday, 2 December 2022

Source: www.punchng.com

Fuel queues grow longer after FG sufficiency claim

Fuel queue Fuel queue

The queues for Premium Motor Spirit, popularly called petrol, grew longer on Thursday after the Federal Government’s claims that there was enough PMS in Nigeria that would last for 34 days.

On Wednesday, the government broke its several weeks of silence on the lingering fuel scarcity nationwide, as it claimed that it had enough product to keep the country wet for over a month.

Despite its claims, the queues for petrol at filling stations in Abuja, Lagos, Nasarawa, Niger and other states grew longer on Thursday, as thousands of motorists thronged the few outlets that dispensed the commodity.

At the Conoil and Total fillings stations directly opposite the headquarters of the Nigerian National Petroleum Company Limited in Abuja, hundreds of motorists formed long queues as they struggled to buy petrol.

“I read in the papers that there is enough petrol that will last for more than 30 days, but, surprisingly, we are still seeing queues because many filling stations are not selling. So where are the products, please?” a motorist, who simply gave his name as Daniel, stated.

The government had, through its Nigeria Midstream and Downstream Petroleum Regulatory Authority, said on Wednesday that it had no plan to increase the pump price of petrol, describing comments on PMS price and its availability as speculations.

It had also stated that there was enough PMS that would last for more than a month and urged petrol users to shun panic buying.

The NMDPRA had said, “These advisory addresses speculations on the price and availability of Premium Motor Spirit. The authority wishes to inform the general public that the Federal Government has no intention of increasing the price of PMS during this period.

“The Nigerian National Petroleum Corporation Limited has imported PMS with current stock levels sufficient for 34 days.

“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products, and hoarding. In keeping with the authority’s responsibilities as outlined in the Petroleum Industry Act, the authority assures the public that it would continue to monitor the supply and distribution of all petroleum products nationwide especially during this holiday season.”

When contacted, the President, Petroleum Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, told our correspondent that the fuel supply situation had yet to stabilise.

He, however, noted that marketers were intensifying efforts to clear the queues, noting that the government, through NNPC, should ensure that there was adequate provision of PMS to dealers nationwide.

“I keep saying that what we need to deal with now is the issue of availability. We are intensifying efforts to clear the queues, but the major thing is for the product to be available,” Gillis-Harry stated.