The Petroleum and Natural Gas Senior Association of Nigeria (PENGASSAN) has given reasons for the persisting fuel scarcity across major cities of the country.
PENGASSAN’s president, Festus Osifo, on Thursday, August 22, identified weak and outdated distribution chains as the reason for persistent queues in filling stations.
Osifo said this while speaking at the 2024 PENGASSAN Energy and Labour Summit (PEALS 2024), in Abuja.
According to him, “The distribution chain is weak in the downstream sector of the oil and gas industry.”
He also warned that while it is possible to address the challenge, there is a huge tendency that it will return.
He said, “That is why today, you see queues in most of the stations. The problem may be solved today, but tomorrow it will resurface.
“Nigeria’s distribution chain is outdated and insufficient to meet the demands of its large population, Osifo stated.
He further noted that the oil and gas sector riddled with challenges including high cost of local production.
This, he said is 15 per cent to 20 per cent higher than what is obtainable in other parts of the globe.
Urging the Nigerian government to take over the security responsibilities from investors, Osifo explained that the high cost of production can be attributed to the burden of security in the oil and gas companies.
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