Fuel Scarcity to persist for two more weeks -IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that the ongoing fuel scarcity across the nation is expected to persist for an additional two weeks.

According to Chinedu Ukadike, the Public Relations Officer of IPMAN, the product is currently unavailable within the country, attributing the challenge to the ongoing maintenance of most refineries in Europe, which complicates sourcing efforts.

Ukadike pointed to importation hurdles and the sluggish pace of licence renewals by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) as major factors contributing to the acute shortage in supply. He noted that out of 15,000 marketers, only 1,050 have had their licences renewed by NMDPRA.

Ukadike said;

“The situation is that there is no product. Once there is a lack of supply or inadequate supply, what you will see is scarcity and queues will emerge at filling stations.

“On the part of NNPCL, which is the sole supplier of petroleum products in Nigeria, they have attributed the challenge to logistics and vessel problems.

“Once there is a breach in the international supply chain, it will have an impact on domestic supply because we depend on imports. I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult.

“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving. Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it.

“We expect that by next week or so, NNPC should be able to restore supply and with another week, normalcy should return”.