The Nigerian National Petroleum Company Limited (NNPCL) has assured consumers that the long queues at fueling stations and shortage of Premium Motor Spirit (PMS), popularly called petrol, will end by Wednesday this week.
The pronouncement was made by the Chief Corporate Communications Officer of NNPC, Olufemi Soneye, he said the oil firm was working hard to tackle the fuel supply challenges, stressing that the queues should clear by mid-week.
“It’s just an evacuation challenge out of Apapa (ports in Lagos) from the vessel. But we are working on it. It should be resolved. I’m very sure that fuel scarcity will be cleared out by Wednesday,” Soneye said.
In a press statement, the oil firm spokesman said “The NNPC Ltd regrets the tightness in fuel supply witnessed in some parts of Lagos and the FCT (Federal Capital Territory), which is as a result of distribution challenges.
“The company further urges motorists to shun panic buying as it is working round the clock with relevant stakeholders to restore normalcy.”
Operators Dispute Claim.
Operators and marketers, however, appear to dispute such claims, one speaking on the condition of anonymity said the fuel supply situation at the depots had yet to improve as of Sunday.
Another official of one of the top petroleum companies in Nigeria said the company was out of stock.
“We don’t have supply yet. For us and many depots in Apapa, it’s nil stock,” the official, who spoke in confidence due to lack of authorization to speak on the matter, stated.
An oil marketer disclosed that the scarcity might get worse in Lagos during the week as there was no improvement in supply.
“The scarcity may get worse in Lagos during the week. Nothing is changing yet. Though motorists still get the product to buy although at very high rates,” the marketer disclosed.
A depot operator revealed that “depots will still get supplies this week, but definitely it will not be enough to meet desired demand to bring down the fuel crisis.”
On his part, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the challenges in the downstream oil sector were compounded by the recent nationwide hunger protests.
“Aside from the fact that there is not enough supply, the recent protests disrupted activities in the downstream oil sector. We are still struggling to sort that one out and there is also the challenge of low supply of petrol,” he stated.
NNPC Denies Owing.
Meanwhile, the NNPCL has also denied owing $6.8 billion to international traders.
“NNPC Ltd does not owe the sum of $6.8bn to any international trader(s). In the oil trading business, transactions are carried out on credit, so it is normal to owe at one point or the other.
“But NNPC Ltd through its subsidiary, NNPC Trading, has many open trade credit lines from several traders. The company is paying its obligations of related invoices on a first-in-first-out basis,” Soneye, the company’s spokesman said.
