The Financial Express

Nigerian oil unions deny fuel scarcity

| Updated: April 19, 2019 12:44:20

File photo (Collected) File photo (Collected)

Nigerian oil unions on Saturday denied reports about fuel scarcity hitting parts of the oil-producing country and called on citizens to stop panic buying of petrol and diesel.

Local media reported on Saturday that fuel scarcity hit some cities in the country due to purported refusal by some oil marketers to lift products from depots.

The Independent Petroleum Marketers Association of Nigeria (IPMAN), and National Union of Petroleum and Natural Gas Workers, urged Nigerians to stop panicking over fuel scarcity as there is sufficient product.

They made the remarks in separate statements on Saturday in Lagos, reports Xinhua.

IPMAN confirmed that about six vessels of imported petrol ordered by the Nigerian National Petroleum Corporation (NNPC) were currently discharging the product, assuring that the corporation has sufficient products.

Meanwhile, the NNPC said in a statement that it has over one billion litres of petrol in stock, with an additional 48 vessels of 50 million litres committed for the month of April alone.

There is "no need for panic buying or hoarding of petroleum products in anticipation of a phantom scarcity," the NNPC added.

Also, oil marketers have said the shortage of petrol, which has hit some cities in the country, will ease soon.

Clement Isong, an official of IPMAN, told Xinhua that they are working very closely with the NNPC to make ensure that queues in front of gas stations will soon disappear.

Meanwhile, Olufemi Adewole, the executive secretary of Depot and Petroleum Products Marketers Association of Nigeria, said the NNPC distribution pricing had been a major issue for depot owners.

He said for now no member had product in his facilities.

Adewole added that the price the NNPC was giving members, plus other charges, had made it extremely difficult for them.

Nigeria is one of the largest oil producers in Africa.

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