House of Reps Reveals Steps to address Fuel Scarcity  

Amid the return of long queues at petrol stations, the House of Representatives Committee on Petroleum Resources, Downstream and midstream, has assured that the Nigerian National Petroleum Company Limited, NNPCL, has about 1.5 billion litres of petrol that can last for 30 days in storage. The downstream and midstream committees, led by Hon Ikenga Imo Ugochinyere and Hon Odianosen Henry OOkojie,respectively, disclosed this during a press conference. Ugochinyere, who represents Ideato North South Federal Constituency of Imo State, stated that in the last few days the downstream and midstream committees reached out to the stakeholders in the distribution value chain; the NNPCL, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO) and engaged extensively with them, with a view to ascertaining the cause of the resurgence of the fuel queues across the country. The lawmakers expressed concerns over the temporary presence of fuel queues in petrol stations across the country, which has adversely affected the lives and businesses of Nigerians. However, she, expressed optimism that normalcy would return in a few days. According to Ugochinyere, from investigations, they found out that there is availability of petrol products, at least, about 1.5 billion litres of petrol that can last for 30 days. He noted that it is as a result of logistics that the queues have resurfaced and these logistic issues range from difficulty in transporting products from the mother vessel to the respective petrol stations. Ugochinyere said, “Good day gentlemen of the press. Standing before you are the Chairmen of the House of Representatives Committees on Petroleum Resources (Downstream) and (Midstream), myself, Hon. Ikenga Imo Ugochinyere and my brother, Hon. Odianosen Henry Okojie respectively. “The purpose of this press briefing is to give an update on the scarcity of petrol products and what the Committees are doing to ensuring that the right things are done as the representatives of the people. Ladies and gentlemen, it is so painful that Nigerians have been subjected to great hardship and pains as a result of the scarcity of petroleum products in the past few days. “This development has led us as representatives of the people, to engage with the regulators of the relevant sectors with a view to finding out the cause(s) of this scarcity and providing solutions to same. “We have in the last few days reached out to the stakeholders in the distribution value chain; the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO) and engaged extensively with them, with a view to ascertaining the cause of the resurgence of the fuel queues across the country. “We hereby express our concerns over the temporary presence of fuel queues in petrol stations across the country. This has adversely affected the lives and businesses of Nigerians across the country. As elected representatives of the Nigerian people, we are greatly disturbed by this development. However, we are convinced that this is temporary and in a couple of days, we shall get over it. “From our investigations, we have found out that there is availability of petrol products. We have on good authority that we have in our storage facilities, at least, about 1.5 billion litres of petrol that can last for 30 days. It is however saddening to note that it is as a result of logistics that the queues have resurfaced. These logistic issues range from difficulty in transporting products from the mother vessel to the respective petrol stations. Movement of products from offshore marine vessels to the stations, disruption from Escravos channels.

NNPCL Reveals Date Petrol Scarcity Will End Across Nigeria

The Nigerian National Petroleum Company Ltd affirmed on Tuesday that the ongoing fuel scarcity and queues across the country will be cleared out by Wednesday, April 31. The Chief Communications Officer, NNPCL, Olufemi Soneye, confirmed this to newsmen on Tuesday in Lagos. According to Soneye, the company currently has products available exceeding 1.5 billion litres, which can last for at least 30 days. He said, “Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved. “However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations. “Some folks are taking advantage of this situation to maximize profits. “Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain. “The lines will be cleared out between today and tomorrow.” Similarly, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (lPMAN), Hammed Fashola, expressed hope that the queues in Lagos and Ogun would ease off this week, relying on the words of the NNPCL. Fashola, however, stated that the queues in Abuja might tarry a bit due to the distance to Lagos. He said, “The information available to us from the NNPCL was that there was a logistics problem, and when that happens, it will disrupt the supply chain. “That might be a delay in the movement of ships from the mother vessel to the daughter vessel before it gets to the depot tanks. “Before we can correct that, surely it will take some days. I think by Tuesday or Wednesday, there will be more products available for lifting by marketers. “It might take time before it can ease off in Abuja, considering the distance to Lagos and the bad roads; Lagos might be calm this new week.”

NNPCL Speaks On Fuel Scarcity Across Nigeria

Far short of advancing cogent reasons for sudden fall in supply of petroleum products nationwide, the Nigerian National Petroleum Company Limited (NNPCL), on Sunday, reacted to the scarcity of fuel by merely stating that the scarcity will soon abate. The Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, in his reaction to the crisis, expressed optimism that the long queues will clear in the coming days, adding that NNPC Ltd has adequate stock. He said, “The Nigerian National Petroleum Company Limited, NNPCL, wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is a result of logistics issues and they have been resolved. “It also wishes to reiterate that prices of petroleum products are not changing. It urges Nigerians to avoid panic buying as there are sufficient products in the country.” Similarly, the Chief Executive Officer/Executive Secretary, Major Energy Marketers Association of Nigeria, Mr. Clement Isong, said, “As the NNPC Ltd said, there were logistics issues and they have been resolved. The marketers who have fuel, are working round the clock and the queues will be cleared in the coming days.” However, the shortage of petrol witnessed in Nasarawa, Niger, Abuja, the Federal Capital Territory, FCT, last week, spread to Lagos, Oyo, Osun and other states, weekend, thus affecting the movement of goods and persons and by extension, the nation’s economy. In Lagos, motorists and other users woke up yesterday to witness long queues at the few filling stations which had the product to sell, while many outlets belonging mostly to independent marketers, without the product, were closed. However, some major marketers, including 11 Plc and NNPC Ltd, with stocks sold the product at over N600 per litre, while the few independent marketers with the product sold it at between N650 and N700 per litre, depending on location.

NNPCL gives reason for fuel scarcity

The Nigerian National Petroleum Corporation Limited, NNPCL, has blamed what it calls “logistic issues” as the reason behind the current fuel scarcity in some states. The company blamed the logistic issues for the tightness in the supply of fuel in some parts of the country. NNPCL disclosed this in a statement issued on Thursday by its Chief Corporate Communications Officer, Olufemi Soneye, assuring that the issue has been resolved. NNPCL reiterated that the prices of petroleum products are not changing nationwide. Soneye urged Nigerians to avoid panic buying as there is a sufficiency of products in the country. The statement read in part: “NNPC Ltd says cause of tightness in fuel supply resolved. The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved. “It also wishes to reiterate that the prices of petroleum products are not changing. “It urges Nigerians to avoid panic buying as there is a sufficiency of products in the country.”

Fuel Scarcity: Avoid Panic Buying, NNPCL Tells Nigerians

The Nigeria National Petroleum Corporation (NNPC) Limited has moved to quell concerns of an impending fuel scarcity in Nigeria by assuring the public that it currently holds a 30-day supply of fuel. The company also urged Nigerians to refrain from engaging in panic buying, emphasizing that the recent sporadic queues observed in some parts of Lagos and Abuja are due to specific logistical challenges that have already been addressed. In a statement posted on its official social media handle, NNPC Retail Limited acknowledged the appearance of fuel queues in certain regions, which were primarily attributed to a temporary reduction in depot loadout in Apapa, Lagos, over a short period. However, the company is keen to stress that there is no need for alarm as the situation is under control. The statement from NNPC Retail Management stated, “We assure all Nigerians that there is ample supply with sufficiency of at least 30 days. Motorists are advised to desist from panic buying as distribution will normalize over the next couple of days.” The statement became necessary to prevent unwarranted panic buying and ease the concerns of the public regarding fuel availability. With the assurance of a 30-day fuel supply and ongoing efforts to address the supply chain challenges, the company said it is committed to maintaining a stable and reliable fuel distribution system across the nation.

Fuel Scarcity Returns To Lagos Amid Increased Pump Price

Fuel scarcity has made a troubling return to Lagos and its surroundings, as numerous oil marketers have closed their outlets, leaving motorists and consumers in a lurch. Last week, a similar issue was reported in Abuja, attributed by oil marketers to poor road conditions and the soaring cost of diesel for distribution. However, recent observations over the weekend have revealed that both independent and major oil marketers have halted operations, leaving the responsibility of serving customers in most parts of Lagos to NNPC Limited, the only remaining importer of the product. This scarcity has persisted despite fuel deregulation, as other operators have struggled to import petrol due to market instability and a lack of foreign exchange.  The informal exchange rate has reached over N1,000 per dollar, compounding the challenges faced by these operators. Chinedu Okoronkwo, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has indicated that measures are being taken to address this crisis.  He stated, “Stakeholders have been meeting, and measures have been taken to enable oil marketers to access foreign exchange at a rate that will not disrupt the current price of the product.” Meanwhile, in Abuja, most major marketers that are still operational have raised their pump prices from N615 per liter to N625 per litre, adding to the woes of already burdened consumers.

Fuel Importation: Assist Us With Emergency Palliatives, Oil Marketers Beg FG

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has warned that unless the federal government provides emergency palliative measures to oil marketers for three months to enable them import fuel, the country would not face an energy crisis by January 2024. In a communiqué he read at the National Executive Council Meeting of NOGASA Thursday in Abuja, its National President, Bennet Korie, added that the situation may force many marketers to close shop. According to the Union, it will go a long way in cushioning the harsh effect of the high cost of importation and equally bring about reasonable reliefs to the business and cost of living generally. While expressing worries that the removal of fuel subsidy and the volatility of the FX market were taking its toll on oil marketers inability to access forex, Korie said there were increasing losses of lives, businesses and jobs with the accentuation by mass shut down of filling stations and packing up of petroleum tankers, all due to unattainable high cost of importation, lifting, transportation and distribution of petroleum products. “Similarly, Depot Owners are so terribly affected by the increasing cost of the crude and exchange rate to the extent that many Depots are practically deserted as their owners are unable to secure Bank loans to fund their business due to high interest rates. Banks are not willing to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of the Dollar. Many Depots are presently dried up or out of stock, and this is no gainsaying as it is evidently verifiable. He insisted that owners of filling stations find it extremely difficult to secure funds to procure products for their retail outlets as both the Independent and Major Marketers were terribly affected adding that filling stations were shutting down because of their inability to secure funds to facilitate orders for their stations. The NOGASA President urged the federal government on the maintenance of roads across the country in order to make distribution of petroleum products seamless. Therefore road networks and maintenance need to be positively impactful as it will also create thousands of jobs for jobless youths and other restive people in our communities. He said the dollarization of the economy was severely harming the country as businesses are dying and the system is not helping us at all. He insisted that urgent action is highly required to save our industry from total collapse.