Fuel queues remain persistent Thursday and price per litre of petrol has shot up to N800 in major stations in and around Lagos and as much as N1000 per litre in other States across the country.The Nigeria National Petroleum Company Limited had claimed that it was logistical problems that have continued to cause the scarcity, but major oil marketers are doubtful of such claims.
“Do you blame oil marketers for the current situation? If NNPCL gives us products, we will sell them because we are businessmen. We are in this business to make money, so we won’t keep products in our tanks if we have,” the Chairman of IPMAN Satellite Depot, Lagos, Akin Akinrinade told Channels Television.
“They said they have a logistics problem and have 240 million litres in store to distribute. But that was what they told us since last weekend. They said the logistics challenges have been resolved but they didn’t tell us the type of logistics problem they have.
“For now, NNPCL stations are mostly the ones selling with just a few others getting supply. But you know our members have the largest number of stations nationwide. If they give IPMAN stations products, you will see that the queues will disappear immediately.”
On his part, a former chairman of the Major Oil Marketers Association of Nigeria, (MOMAN) now MEMAN, and the Chief Executive Officer, Mobil Oil now 11 Plc, Tunji Oyebanji, said NNPCL was starving oil marketers of products.
“(There is) no petrol because NNPCL is not giving us fuel. According to them, they don’t have smaller vessels to take the fuel from the larger vessels. Others are saying its because of bridging claims. They are not telling us the truth, because, as I speak, I don’t have fuel in my depot. I am going around begging for fuel,” he said.
“If you tell NNPCL you need say like 80, 000 tons of product now, they will give you 10, 000 tons. So, you will sell small, and then everything goes dry again.
“If they claim they have fuel, and no products in our tanks, then, it still translates to a no-fuel situation. Again, NNPCL is selling to us at around N600 per litre, and as of today, the landing cost of gasoline at the international market is ₦847 per litre.
“So, if I buy at ₦847/litre and add other costs, the pump price will be about ₦1400 per litre. So, if I sell at that price in my station, who will buy it? Even we marketers can’t buy much at that price. So, we continue to manage the situation.
“And if we make too much noise, they will tell us to go and import too. How will we import with the high exchange rate? If we import on our own, who will buy from us at that high price?
“Those currently selling at low prices know how they go about it because, during scarcity, everybody will be doing whatever they like.”
