According to the Nigeria National Petroleum Corporation Limited(NNPCL), the lingering fuel scarcity troubling Nigeria has been attributed to panic buying and exploitative practices by some petroleum marketers.
News360 Info reports that in a bid to reassure the public, the NNPC has vowed that the current fuel queues will dissipate next week, asserting that it possesses sufficient fuel stocks to resolve the scarcity.
During a press briefing on Friday, NNPC spokesperson, Femi Soneye, disclosed that the corporation is prepared with over 1.5 billion litres of petroleum, which he insists is adequate for at least 30 days.
Soneye stated that while the NNPC is committed to ensuring fuel availability, the responsibility of fair distribution lies with the marketers, whom he accused of seeking to capitalize on the situation.
“The queues are clearing. They won’t just clear like that, because people are trying to hoard, while others are buying what they don’t need. That is why we keep saying there is enough product; there is no need to buy what you don’t need,” Soneye explained.
However, petroleum marketers have countered the NNPC’s position, arguing that the main issue is an inadequate supply of fuel, not their business practices.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed frustration over the accusations, stating that marketers could not be blamed for hoarding a product that is simply not available in sufficient quantities.
IPMAN’s National Vice President, Hammed Fashola, stated, “That is far from the truth. You can only divert the product that you have. You don’t divert what you don’t have. On the issue of hoarding, you cannot hoard what you don’t have. It is not even making sense when you have fuel at this critical period, then you say you want to hoard it.”
Adding to the complexity of the situation, the Major Energies Marketers Association of Nigeria confirmed the receipt of 300 million litres of fuel from eight vessels this week, suggesting that while supplies are arriving, distribution remains a challenge.
The South-West Regional Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Cardoso, assured that the government is making concerted efforts to ensure the massive distribution of petroleum motor spirit (PMS) across the country.
“We have received over 300 million liters as of Tuesday. More have arrived as we speak, but I can’t give you the figure. Vessels will keep arriving in Nigeria for 15 days, which started counting on Monday, and we will keep distributing the product across the nation,” Cardoso stated.
As the NNPC and petroleum marketers navigate these turbulent waters, Nigerians continue to feel the impact of fuel scarcity, with many citizens facing increased hardship.
The situation has prompted calls for stringent measures against hoarding and profiteering, with the House of Representatives Committee on Petroleum Resources urging security agencies to take action against those exploiting the crisis.
