Apprehension as Petrol Scarcity Bites Harder 

November 25, 2022
petrol scarcity

By Adedapo Adesanya

The presence of long queues and crowds at bus stops across states indicate the biting reality of worsening petrol scarcity in the country.

In Lagos on Friday morning, Business Post gathered that prices of premium motor spirit (PMS) sold for as high as N230 in some filling stations and N250 litres at other stations.

Commercial bus drivers lamented the situation as they hiked the cost of bus fares, with commuters left with no choice but to acquiesce.

This development is coming as marketers, under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN), lamented that the Nigerian National Petroleum Company (NNPC) Limited had refused to give its members products.

“NNPC refuses to give us fuel. We buy from third parties and can sell at any price because if the landing cost to our stations is N218 per litre, how much do you expect us to sell? So, the public should expect fuel at any price, depending on the area,” Mr Mike Osatuyi, IPMAN National Controller Operations, told The Punch.

On its end, the sole importer of the commodity, the NNPC, has kept mum with no official correspondence on the issue.

Following devastating flooding in parts of the country, analysts have warned that Nigerians must brace up for tough times ahead with increases expected in the cost of living.

Inflation figures released last week for the month of October 2022 showed a 21.09 per cent increase year-on-year, driven by increases in food prices and energy costs.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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