The Nigerian National Petroleum Corporation (NNPC) has suspended sales of petrol to independent marketers after raising the price . Three vessels arrived at the Apapa jetty in Lagos to deliver imported petrol, but the price increase has caused protests and scarcity .Commercial tricycle operators in Delta State demonstrated against the price hike, and commuters faced long distances and fuel queues .The average retail price of petrol has increased by 37.44% since June 2023 .
The NNPC raised the price of a liter of PMS to N855 and above across its retail outlets nationwide on Tuesday, causing fuel scarcity and long queues at filling stations .The Independent Petroleum Marketers Association of Nigeria (IPMAN) has been engaging with the government to address the scarcity by allowing members to import petrol into the country .The recent announcement that Dangote refinery will start producing petrol and supply it exclusively to NNPC could provide relief to the NNPC and address the persistent fuel scarcity .
“Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice President, Hammed Fashola, expressed concerns over the Nigerian National Petroleum Corporation’s (NNPC) decision to suspend fuel sales to independent marketers without official communication. This move came after the NNPC increased the price of Premium Motor Spirit (PMS) to N855 and above per liter. As a result, independent marketers sold the product for as high as N1,200 to N1,300 per liter in some states.
Fashola questioned the rationale behind the suspension, particularly since many marketers had paid for the product over two months ago. When asked if marketers had refrained from collecting fuel from the depot, Fashola explained that they were unable to do so due to the suspension of their loading tickets by the NNPC. He emphasized that despite having paid for the product, the NNPC had not attended to them since Tuesday and had not provided any official communication regarding the suspension.”
“IPMAN National Vice President, Hammed Fashola, criticized the NNPC’s decision to suspend fuel sales to independent marketers who had paid for the product months in advance. He described the situation as “very bad” and emphasized that it was not the fault of the customers, as the transaction was supposed to be cash-and-carry.
Fashola highlighted the disparity in treatment between major marketers and IPMAN members, noting that NNPC prioritizes the former while the latter is forced to rely on private depot owners who charge higher prices. This leads to a significant price gap between the two categories of marketers.
“We are compelled to seek alternative sources from private depots due to inadequate supply from NNPC,” Fashola explained, stressing that this was not a voluntary choice but a necessity.”
