Fuel queues in parts of Lagos and other states continue to expand due to a significant shortfall in the supply of Premium Motor Spirit (PMS), commonly known as petrol.
Numerous filling stations across the city have been without fuel for weeks, placing immense pressure on the few stations still providing fuel.
The situation has worsened traffic, as many motorists occupy multiple lanes while waiting for petrol.
Several fuel marketers reported that fuel distribution from Dangote is insufficient to meet local demand.
This claim aligns with an earlier statement from the Nigerian National Petroleum Company Limited (NNPCL).
On September 15, when the Dangote refinery began supplying PMS to domestic marketers, NNPCL confirmed that 16.8 million litres of petrol were loaded from the refinery—well below the 25 million litres per day that the refinery initially promised to supply NNPCL.
“I can confirm that Dangote’s daily output is less than 15 million litres, which is far short of the 40 million litres required domestically,” a source said.
NNPCL has continued to import petrol to address the deficit, but queues are likely to worsen in the coming weeks unless imports are significantly increased to offset the shortfall from the Dangote refinery.
As of Wednesday, a vessel carrying petrol imported by NNPCL had arrived at the Atlas Cove depot. However, the distribution will be limited.
“My company is only getting 2,000 metric tonnes, which translates to a mere 150 trucks. Yesterday, we didn’t even load 10 trucks,” a marketer revealed.
Meanwhile, a directive from the Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, for Dangote to sell directly to registered marketers has been delayed.
A source familiar with Tuesday’s meeting between Dangote and the Independent Petroleum Marketers Association of Nigeria (IPMAN) stated that NNPCL will continue its role as the sole offtaker until the existing agreement with Dangote is terminated.
At an IPMAN National Executive Council (NEC) meeting held in Abuja yesterday, it was announced that the pricing dispute between NNPCL and IPMAN had been resolved.
IPMAN’s National President, Mr. Abubakar Garima, had earlier criticized NNPCL for selling petrol to marketers at N1,010 per litre in Lagos—much higher than what NNPCL paid to acquire it from Dangote.
“I am pleased to inform you that during the NEC meeting, it was confirmed that NNPCL and IPMAN have agreed on a new price of N995 per litre,” Garima announced.
Source —The Sun
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