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Fuel Queues in Lagos

Another Nation-wide Fuel Dearth
 
By:
Tue, 1 Mar 2016   ||   Nigeria,
 

Once again, Nigerians are being stirred in the face with another reality of fuel scarcity.

Before this whole ''Fuel malaise'' resurfaced, the Independent Petroleum Marketers Association of Nigeria (IPMAN) foresaw this looming adversity and called on the Nigerian National Petroleum Corporation (NNPC) to step up import of Premium Motor Spirit (PMS) also known as ''Petrol'' to avert another round of scarcity across the nation.

The National operations Controller of IPMAN, Mr Mike Osaluyi, who gave this warning, noted that the fuel situation had been fragile ever since the NNPC assumed the role of the sole Importer of Petrol.

According to him, ''there has been a supply gap over a period of time. The NNPC imports 78% of the petrol needs of the country, adding that they have access to FOREX because they do the SWAP deal and therefore are not constrained by the challenge unlike Oil Marketers''.

With the incessant tumbling of the Naira in the parallel market and the present condition of our Economy ''as regards the Dollar'', it would be difficult and not profitable for Oil Marketers to import PMS.

Hence, the call to the NNPC to step up their imports into the country.

 

 

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