Tuesday, 30 January 2018

Petrol Crisis May Worsen As Depot Price Hits N165 Per Litre

Despite what seems like the best efforts of the Nigerian National Petroleum Corporation (NNPC) to end the protracted petrol scarcity in the country, the fuel supply situation may worsen as the price has hit N165 per litre at the depots, against the official price of N133.28.
According to investigation from Thisday, this is coming as two
petrol vessels imported by the NNPC discharged
simultaneously in Lagos at the weekend.
Petrol scarcity, which had marred the Christmas and New
Year celebrations, has persisted despite the efforts of the
NNPC to successfully perform the onerous task of
meeting the country’s fuel need, following the refusal of
the private marketers to import on account of
unsustainability of the official pricing regime.
A market survey conducted by ThisDay showed that only
seven out of over 30 depots had stock of petrol at the
The depots include Folawiyo, Fatgbems, Aiteo, Bovas,
Heyden, Rainoil/First Royal and NIPCO.
However, the major marketers had stock of NNPC’s
petrol, which the corporation was dispensing to only the
major marketers’ dealers and their branded filling
stations at official price.
It was gathered that the petrol in these depots belong to
the NNPC under throughput arrangement with these
depot owners.
Worried that the petrol it imported and allocated to
marketers did not get to retail outlets and motorists at
official price, the NNPC had since stopped allocating
product to marketers and resorted to throughput
arrangement with selected marketing firms to have
effective control of supply and distribution.
However, to address the challenges, two vessels
imported by the NNPC discharged simultaneously in
Apapa at the weekend.

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