Another nationwide fuel scarcity looms – IPMAN warns

The Independent Petroleum Marketers Association of Nigeria has warned of an impending fuel scarcity across the nation.
It said the 78 per cent import allocation granted the Nigerian National Petroleum Corporation has led to a disruption in the petroleum products distribution chain, leading to scarcity within the Lagos metropolis.
With this development, IPMAN has called on the Corporation to step up import of Premium Motor Spirit, also known as petrol, to avert another round of scarcity.
The National Operations Controller of IPMAN, Mike Osatuyi, who gave his warning, noted that the fuel situation had been fragile since the NNPC assumed the role of the sole importer of petrol.
Osatuyi said: “There is supply gap over a period of time now.
“The NNPC imports 78 per cent of the petrol needs of the country.
“I can only say you should tell them to improve on imports.
“They have access to forex because they do the SWAP deal and, therefore, are not constrained by the challenge.
“But for marketers, it is difficult to source the Dollar and therefore not profitable to import under present condition.”
On whether marketers have products, Osatuyi said: “If we have, we will sell.
“If you observe any scarcity now, it means supply has really gone down.
“But let us watch the situation till weekend and then we will know how to react to it, but NNPC should take up the responsibility to beef supply.”