Business
NNPC says fuel queues to be cleared by Wednesday
The Nigerian National Petroleum Company (NNPC) Limited has informed the public that the current fuel shortages and the accompanying queues will be resolved by Wednesday.
Olufemi Soneye, Chief Communications Officer at NNPCL, shared this information with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
He stated that the company has more than 1.5 billion litres of fuel in stock, sufficient to last for at least 30 days.
“Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved. However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.
“Some folks are taking advantage of this situation to maximize profits. Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain.
“The lines will be cleared out between today and tomorrow,” Soneye assured.
Similarly, Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has expressed optimism that the fuel queues in Lagos and Ogun will diminish this week, based on assurances from the NNPC.
However, Fashola noted that the queues in Abuja might persist longer because of the distance from Lagos.
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“The information available to us from the NNPCL was that there was a logistics problem, and when that happens, it will disrupt the supply chain.
“That might be a delay in the movement of ships from the mother vessel to the daughter vessel before it gets to the depot tanks.
“Before we can correct that, surely it will take some days. I think by Tuesday or Wednesday, there will be more products available for lifting by marketers.
“It might take time before it can ease off in Abuja, considering the distance to Lagos and the bad roads, Lagos might be calm this new week,” Fashola said.
Recall that last week, the spokesperson for NNPC, Olufemi Soneye, had issued a press release stating that all factors responsible for fuel scarcity had been resolved, and there was excess supply of petrol in the country.
However, Nairametrics observed that in Lagos and Abuja, fuel stations are selling petrol for as high as N850 to N900 per liter in locations such as Maryland, Ikeja, Agege, Iyana Ipaja, and other outskirts of Lagos.