Fuel Shortage May Linger As NNPC Shuns Private Depots

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Stop Panic Buying , NNPC Tells Nigerians As Motorists Queues Persist
Stop Panic Buying , NNPC Tells Nigerians As Motorists Queues Persist

Fuel Shortage May Linger As NNPC Shuns Private Depots

Nigerians could face more days of fuel scarcity due to the inability of the Nigerian National Petroleum Corporation (NNPC ) to supply products to private depots.

Many depot owners who spoke with source yesterday complained they were not getting allocations from the NNPC, making it difficult for them to release products to retail stations. The owners, who used to import 65 per cent of products before the NNPC assumed the role of sole importer, said they would only bring in supplies if the Federal Government resumed the payment of subsidy.

The Depot and Petroleum Products Marketers Association (DAPMA ) members noted that the landing cost of Premium Motor Spirit (PMS ) in Nigeria, based on the current exchange rate of N 306, is about N170 per litre , stressing they must resort to subsidy , a policy already jettisoned by the Federal Government.

The Group General Manager , Group Public Affairs Division of NNPC , Ndu Ughamadu, however, insisted the corporation has imported more than enough products to meet national demand.

He said : “ The depot owners are not importing products and they now depend on NNPC. The truth is that the corporation would have to give priority to its depots all over the country before considering private depots. You are aware that we also have our retail stations to supply.” He assured the nation of NNPC ’ s commitment to importation , adding : “NNPC is on top of the situation and we believe that queues will be over in the next few days. ”

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