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Fuel Scarcity To Last For Two More Weeks – Marketers | Citizen NewsNG

ByCitizen NewsNG

Apr 29, 2024

 

The Independent Petroleum Marketers Association of Nigeria, IPMAN, says the there may be a two-week supply shortage of Premium Motor Spirit (PMS), also known as petrol, for the time being.

This was said on Sunday by IPMAN’s public relations officer, Chinedu Ukadike, in response to the product’s ongoing shortage as it expands to numerous states.

On Sunday, Ukadike announced that the commodity is not available in the nation at this time. He attributed this to the difficulty in locating it, as the majority of refineries in Europe are undergoing turnaround maintenance.

“Once there is a breach in the international supply chain, it will have an impact on domestic supply because we depend on imports.

“I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult.

“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving.

“Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it”, he said.

Ukadike also blamed the acute scarcity of the product on importation bottlenecks and the pace at which the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, renews marketers’ licence.

Reports have it that transportation in many cities, including the Federal Capital Territory, FCT, Abuja and Lagos State have been grounded following the lingering fuel scarcity issue.

Some fuel stations have shut down, while others are accused of hoarding the product, causing persistent queues in stations that are dispensing.

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