By Modupe Gbadeyanka
Nigerians have been alert of an impending scarcity of Premium Motor Spirit (PMS) commonly known as petrol.
This warning was given by the Vice National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Abubakar Maigandi.
According to Mr Maigandi, the looming fuel scarcity may come as a result of private depot owners selling the product above pump price of N145 per litre.
He explained that owing to the prevailing situation in the depots nationwide, marketers in far areas may increase their pump prices.
“Our members have started complaining about the issue of this price increase by private depots owners.
“They are increasing the price now seriously which will not allow our marketers to sell the product at the government rate.”
“They are selling at between N140 and N143 from the private depots. And if the NNPC (Nigerian National Petroleum Corporation) and DPR (Department of Petroleum Resources) do not take drastic measure against it, it may likely cause scarcity nationwide,” he said.
Mr Maigandi warned that, “This is a serious problem as the marketers cannot sell above government rate,” pointing out that “if the marketers cannot sell the product automatically, there will be scarcity.”
more recommended stories
Ellah Lakes Lists New 1.880 Billion Shares on NSE
By Dipo Olowookere Fresh 1.888 billion.
Royal Exchange Board Holds Emergency Meeting
By Dipo Olowookere The board of.
I&E Records $200m Turnover Monday as Panic Persists
**Naira Trades 360.50/$ at I&E FX.
Nigeria Must Act Fast to Avert Serious Food Disaster—ICC Nigeria
The need for federal government of.
SEC Lied, Never Gave us Fair Hearing—Oando Insists
By Dipo Olowookere Embattled Nigerian energy.
T-Bills Yields Jump 0.11% on Sell Pressure
By Dipo Olowookere The secondary market.
Equities Post 0.37% Loss Despite Rise in Trades
By Dipo Olowookere The nation’s bourse.
Nigeria’s Inflation Rises to 11.40% in May as Food Index Jumps to 13.79%
By Modupe Gbadeyanka The National Bureau.