Fuel scarcity: NNPCL restricts independent marketers as prices surge
The Nigerian National Petroleum Corporation (NNPC) has halted the sale of Premium Motor Spirit (PMS), commonly known as petrol, to independent marketers following a recent price increase. This decision was announced after the price of petrol was raised to over N855 per litre on Tuesday.
On Wednesday, despite the arrival of three vessels at Apapa in Lagos to offload imported petrol, the fuel scarcity continued to worsen. This price hike triggered protests in Delta State, where commercial tricycle operators and others took to the streets in Warri and Effurun to protest the increase.
Nationwide, fuel queues intensified, leaving many commuters stranded and forcing others to walk long distances. Commercial motorists were few, with many lamenting the recent price hike, which follows a period of nationwide protests.
Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), criticized NNPC for suspending sales to independent marketers without prior notice, despite these marketers having paid for their fuel stocks months ago. This suspension has exacerbated the fuel shortage and led independent marketers to purchase fuel from private depots at higher prices, widening the price gap between major and independent marketers.
Fashola also expressed concern that NNPC’s pricing for its retail outlets, while lower, still involves some subsidy given the high landing cost of petrol. He indicated that the forthcoming Dangote refinery might affect fuel prices, though specifics of this arrangement are yet to be clarified.
Meanwhile, the Trade Union Congress (TUC) condemned the price hike, arguing that it would worsen economic hardships and potentially lead to social unrest. They criticized the government for not consulting with stakeholders and failing to address the broader economic issues contributing to high living costs.
In addition, various regions across Nigeria reported significant disruptions due to the fuel price increase. In Maiduguri and Lafia, residents resorted to walking, using tricycles, or bicycles to avoid expensive transportation costs. The situation was similarly dire in Ilorin and Kaduna, where many vehicles were parked due to the high price of fuel, causing further disruptions to daily activities.
Overall, the fuel crisis has led to widespread frustration, with many calling for immediate government intervention to address the rising cost of petrol and alleviate the resulting hardships.
