By Matthew Tabe
As the countdown to the Christmas festivities begin, long queues have become permanent features at gas stations in Nigeria’s capital city of Abuja, the nation’s commercial nerve center of Lagos, and most cities across the federation.
The pump price of Premium Motor Spirit (PMS), popularly called petrol, increases on a daily basis, with some filling stations dispensing for between N270 to N300 per litre.
The effect is even more panic buying from motorists and the general public alike, with the yuletide in the horizon.
A survey conducted by our correspondent indicates that some fuel stations are hoarding the product during the day and dispensing at odd hours (early morning and beyond 4pm) in a calculated attempt to evade regulatory agencies like the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA).
Quest Times also keenly observed that some of the filling station owners have readjusted their pumps, thereby cheating motorists who patronise them.
For instance, a vehicle owner that intends to buy 40 litres of petrol will end up getting 34 litres without noticing. They also prefer to sell to black marketers.
Dealers on the other hand have threatened to increase the pump price to N400 should the selling price at the depots continue to rise.
The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Ukadike Chinedu, said that most IPMAN members who own a bulk of the filling stations across the country, were now subject to purchasing PMS at about N220/litre, which is why many outlets currently dispense at about N250/litre and above.
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He said the cost of the commodity has been rising due to its unavailability and other concerns in the sector, stressing that consumers should be ready to pay between N350/litre to N400/litre before the end of 2022.
“I’ve always discussed with you frankly on the PMS supply situation in Nigeria. A vessel arrived Port Harcourt depot and the information we got is that it is only for major marketers. This might be happening in some other locations too,” Ukadike stated.
“Right now in the black market, it is being sold at N400 to N450/litre. I attempted to ask for a 5 litre jerrycan in Lagos and they were offering it at N2,200, which translates to N450/litre.”
Speaking exclusively to Quest Times however, the National President of IPMAN, Alhaji Debo Ahmed, advised the masses to stop panic buying of petrol because the product will be readily available nationwide during the festive season.
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He said: “There’s nothing like IPMAN will sell at the pump price of N400 per litre. All that is just speculation. They should ignore the speculation making the rounds.
“The selling price of fuel at the private depots has increased a little bit but we haven’t increased the selling price yet. As at today, we’re buying at N317 per litre and if it continues, then we’ll sell at N400/liter when all expenses are added.”
He added that there will not be uniform price by marketers across the country because of the different locations of their gas stations from the depots.