Marketers have blamed the fresh scarcity of Premium Motor Spirit (PMS) popularly known as petrol on a supply challenge from the major oil supplier in the country, the Nigerian National Petroleum Company (NNPC) Limited.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, made this known on Monday on Channels Television’s The Morning Brief breakfast programme
The fresh fuel scarcity has grounded many economic activities in states across the Federation as Nigerians queue up at filling stations nationwide.
While some motorists were lucky to get fuel at some retail outlets for between N700 and N,1200 per litre after hours of sweat and contest, others weren’t so lucky as many retail outlets were shut, with their excuse being supply challenge.
The shortage of the premium product saw the black marketers selling the petrol for as high as N2,000 per litre in states.
Snake-like queues at filling stations in Lagos, Abuja, Port Harcourt, Kaduna, Sokoto, Kano and other places have worsened the traffic situation in the states as the long queues spilt on major roads, hindering movement just as thousands of people were stranded at bus stops with transport fares as high as double the former amounts.
Though many outlets owned by independent oil marketers remained shut, checks by our correspondent in Lagos showed that NNPC retail outlets sell petrol at N568 per litre but not many motorists could survive the unending queues and jostling for sometimes six hours.
Last May, President Bola Tinubu removed the subsidy on petrol with the pump price of the product jumping from about N184 to about N600 per litre. The move aimed at the deregulation of the oil sector has inflicted untold hardship on Nigerians with the prices of basic commodities going through the roof.
On Sunday, the President defended his action again when he told world leaders at the World Economic Forum in Riyadh, Saudi Arabia, that his administration’s decision to remove the petrol subsidy was necessary to prevent the country from going bankrupt.