There is a looming fuel scarcity in the country as marketers have revealed that they are not lifting fuel due to an impending price increase.
Sources close to the matter revealed that some filling stations have stopped selling fuel in anticipation of a price hike ahead of the rollout of petroleum products from the Dangote refinery.
Marketers predict that the price of premium motor spirit (PMS) will increase to N600 per litre when the Dangote refinery starts selling. However, the management of Dangote refinery has denied this speculation, stating that they have not fixed a price at N600 per litre.
“We would like to clarify that Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet,” said Anthony Chiejina, spokesman of the Dangote Group.
Despite the denial, some marketers are still hoarding fuel in anticipation of the price increase. The Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) has threatened to shut down filling stations that refuse to dispense fuel.
The situation has led to long queues at filling stations, with prices skyrocketing to almost N1000 per litre at independent filling stations.
However, the Nigerian National Petroleum Company Limited (NNPCL) claims that there is enough fuel supply.
“In terms of supply, I can confirm that we have supply,” Chief Corporate Communications Officer of NNPCL, Olufemi Shoneye, simply said when contacted on Friday.
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