Fuel Scarcity Looms—IPMAN

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.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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