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Fuel Scarcity: Give us PMS at official ex-depot price of N148 per litre, lPMAN tasks NNPC

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.Issues 7-day ultimatum


.As FG assures of stable supply



Ejigbo Satellite Depot of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Company Ltd. (NNPCL) to avail it the same window given to Major Oil Marketers Association of Nigeria (MOMAN) to buy fuel at regulated depot price of N148.17 per litre.




The Chairman of IPMAN Ejigbo Depot, Mr. Akin Akinrinade, made the appeal in Lagos on Wednesday at a media briefing on the price disparity of petrol to IPMAN members by depot owners.




Akinrinade wondered why private depots get petrol from NNPCL at official rate of N148. 17 per litre but sell at N220 per liter ex-depot price to IPMAN.




He, however, issued seven days ultimatum to NNPCL to work out a concrete arrangement for IPMAN to buy fuel at regulated price of N148.17 per litre.




He said that lPMAN had an agreement with NNPCL on fuel supply but   has refused to adhere to the agreement.




“We have noticed the price disparity at which NNPC is selling petrol to major marketers at regulated price and the private depot are selling to the independent marketers at N220 per litre.




“Major marketers are selling at the rate of N170 per litre in their stations and retail outlets are selling at N169 at their stations.




“The private depots are selling ex-depot price at N220 per litre to us, which means that after paying N220 per litre, we still have to add other costs like transportation, logistics among other costs.”




According to the chairman, this has led to an increase in the price of petrol at IPMAN stations, adding that members now sell at N250 per litre and above to stay in business.




“We are no longer comfortable with this because Nigerians now see us as the black sheep. So, we want Nigerians to know that it is not of our making and that the authorities should address the issues around the price disparity”.




Akinrinade said that members found themselves in such situation due to moribund NNPCL depots that were neglected.




“We loaded here last at Satellite depot in Lagos since December 2021, but, throughout 2022, we have not load a drop of product here.




”Ordinarily, NNPC is supposed to make arrangement for us to load through the private depots but they have abandoned that arrangement. That is why we have no choice but to buy from the private depot owners who use us to make money.


“I wonder why they are now selling to us at N220 per litre,” he said.




He said: ”Petrol is regulated and held in trust for Nigerians, why are private depots owners profiteering?.


We are all commission agents in the petroleum business as long as the product is being subsidised.




“We are using this medium again to call on NNPC to make arrangement for IPMAN through the private depots such that we can load in those depots as we used to, paying government regulated price.




“Before now we used to buy at the rate of N148 and with that, we can sell at N170 but it is no longer so because the private depots are selling to us at the rate of N220 per litre ex-depot price,” he said.


Akinrinade said that IPMAN was simply asking for fair competition, adding that the competition was no longer fair.




He said that lPMAN members were losing customers because they could no longer buy at the price of N250 and above.




“In the interim, NNPC should make arrangement for IPMAN to load through the private depot.


That is what they are doing for NNPC retail and we should be treated equally.




“If government can no longer subsidise the product, then let them deregulate so that we are all at the same level.


We can no longer put this pains on Nigerians so we are saying enough is enough and the arrangement should be made for things to go back to status quo or we will react,” he said.


Meanwhile, the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the queues at filling stations will soon disappear as marketers commence massive loading of petroleum products.




Mr Ahmed Farouk, Chief Executive of NMDPRA, gave the assurance during a stock monitoring exercise within depots in Lagos on Wednesday.




The News Agency of Nigeria (NAN) reports that the NMDPRA boss led staff of the Authority to NIPCO, Total, Aiteo, OVH, Conoil, 11 Plc and HOGL depots in Apapa for on the spot assessment.




Farouk said the stock taking exercise was to ensure availability and effective distribution of petroleum products across the nation to reduce queues at filling stations.




“The essence of this exercise is to ensure that the entire states are wet with petroleum products to avoid scarcity and panic buying by commuters during this period.




“As an authority, we are doing everything within our powers to make sure that there are enough petroleum products in the system to help alleviate the sufferings of commuters.




“With the issue of scarcity across the nation, l found it necessary that NMDPRA come and ensure that there is even distribution of petroleum products across the nation, especially petrol.




“I am comfortable with the the load-out of petrol across the depots.


The current distribution of petrol across the nation will address the issue of tightness in the market,” he said.




He said all depots in Apapa had products and were loading massively to Lagos, Abuja, Port Harcourt and other states.




He said three vessels were also discharging petrol at Apapa jetty to MOMAN, DAPPMAN and other depots.




Farouk urged Nigerians not to panic and avoid panic buying, while assuring of availability of sufficient products at filling stations across the country.




According to him, the Nigerian National Petroleum Company Ltd. (NNPCL) stock report shows that there is enough product in the country.




“The major challenge was logistics between mother vessels and that of the import vessel into the depots. We have gone round Apapa depots; five out six depots visited had full stock and they are loading massively,” the NMDPRA boss said.




He assured Nigerians of sufficient products during the yuletide.




“We have enough stock on shuttle vessel coming into the depots, the depots visited are loading between 70 and120 trucks daily.




“Many of the depots visited are loading to distribute to Northern, Eastern and Port Harcourt axis.




“I have the assurance and convinction to tell Nigerians that the yuletide will be celebrated with ample supply of petroleum products,” he said.




On marketers selling above regulated prices, Farouk said: “We had the information that some marketers are selling above regulated and ex-depot prices. It was an allegation which we are investigating and need to confirm.”




Mr Suresh Kumar, the Managing Director of NIPCO Plc, said the company had about 28 million litres in stock and has commenced loading to all NIPCO stations across the country.




Kumar said supply and allocation of petrol had improved drastically and the company hoped it would continue to ease the situation.




“As at today, the number of vessels discharging at Apapa jetty has increased, we hope it is sustained.




“We are expecting two more vessels to come. This will increase our stock capacity to 55 million litres.




“Our products turnout has also been steady for the last couple of days. We have been loading five million litres per day and we expect this trend to continue for the next one week,” he said.




NAN also reports that 11 Plc is loading 100 trucks of petrol daily with nine million in stock, while Aiteo is loading 126 trucks daily with 20 million litres stock capacity.




TotalEnergies loads 100 trucks daily with 65 million litres stock, and OVH is loading 70 trucks with over 10 million litres.

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