THERE were long queues in Lagos and environs, yesterday, as many independent oil marketers without petrol shut their filling stations against motorists and other customers.
Checks by Vanguard indicated that the shutdown of many independent outlets culminated in the emergence of long queues in the stations of major oil marketers and NNPC Ltd that opened to customers.
But both NNPC Ltd and the major oil marketers kept their prices relatively low at N580 per litre, while the few independent oil marketers sold the product at between N850 and N970 per litre, depending on the location.
Further checks indicated that there was a significant increase in transport fares as motorists passed the costs to commuters in Lagos, Ogun and other states.
It now cost about N5,000 to travel from Ikorodu to Lekki, Lagos, a distance that used to attract about N3,000 before the shortage.
It was learned that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, were not physically present at the filling stations to monitor activities, resulting in extortion of consumers.
The agency has the responsibility to regulate and monitor midstream and downstream operations in Nigeria; determine appropriate tariff methodology; and set cost benchmarks for midstream and downstream operations.
It is also to advise the dovernment and stakeholders on commercial matters relating tariff and pricing framework; regulate the bulk storage, distribution, marketing, transportation pipelines of petroleum products; and monitor and enforce compliance with the terms and conditions of licenses, permits and authorizations issued by the authority.
However, NNPCL’s Vice President (Downstream), Dapo Segun, attributed the fuel scarcity to rains, lightning and thunderstorms.
Speaking during a press conference at the NNPC Towers, he had said: “We apologise to Nigerians for the fuel queues. Many of the challenges we’re facing are outside our control, but we’re doing our best to address them.
“The recent rains have made the Estravos channel difficult to navigate due to siltation, which has significantly hindered our ability to transport petroleum products, especially PMS, across the country.”
He said the lightning and thunderstorms culminated in suspension of fuel discharges, adding that the situation was worsened by the poor state of roads in the country.
Similarly, the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Engr. Festus Osifo, who is also President of the Trade Union Congress TUC, attributed Nigeria’s current economic hardship to government policies, particularly floating of the currency.
Engr. Osifo stated the above in his address on Wednesday in Abuja, at the 3rd edition of PENGASSAN Energy and Labour Summit with the theme, “The future of Nigeria’s oil and gas industry: Energy mix, energy security, artificial intelligence, divestment and crude oil theft.”
He said: “A country that cannot meet its energy needs or guarantee energy availability for its citizens is on the path of becoming a failed state.
“As an Association, we have mounted the rostrum over time, both on the streets and in the boardroom, to champion this cause, and we will not relent until victory is certain.
“As we gather here, let us not lose sight of the broader state of our nation. Nigeria stands at crossroads, and our actions and decisions here in the next few days will provide a framework for a policy trust for government towards shaping the economic outlook of our country.”
“It is incumbent upon us to drive positive change, foster economic growth, and ensure our people’s prosperity. Recent policy directions by the government have placed untold hardship on Nigerians.
“Chief among them is the flotation cum devaluation of the naira, which saw our currency slide from N450 officially in May 2023 to the current exchange rate of about N1600.
“This is the reason the landing price of PMS today is over N1,000 (reintroduction of subsidy), the reason AGO is selling for over N1,300, and the reason all Imported commodities are over the roof today. The overarching impact of this on Nigerians can only be imagined than experienced.”
