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IPMAN seeks pump price increase to N180/l as fuel queues return to Lagos

BARELY three months after long queues at filling stations disappeared from Lagos, the scourge has returned to Nigeria’s commercial nerve centre.

The entire country had experienced fuel scarcity in February 2022 when fuel marketers were alleged to have imported unclean premium motor spirit (PMS), popularly known as petrol. But the Nigeria National Petroleum  Company (NNPC) rallied to address the situation and the consequent long queues at filling stations abated.

The ICIR had on February 8, 2022 reported the first instance of contaminated PMS in circulation as the cause of the long queues in Abuja and Lagos.

While Lagos is just experiencing a return of the queues, beginning from yesterday, Sunday, June 19, 2022, residents of most parts of the Federal Capital  Territory, especially Abuja, the capital city, have been living with long queues for many weeks.

The ICIR observed this morning many commuters trekking on the Ojota to Fadeyi axis of Ikorodu Road because of shortage of commerial buses. Many commuters were seen at the bus stops on the stretch chasing to board the few commercial buses that had fuel to operate.

Also, there was the presence of traffic jams across the metropolis many motorists joined long queues in order to get fuel.

It was also gathered that some of the oil marketers had begun to sell above the approved retail price.

Photo used for illustrative purposes.

A content creator, Bassey Aniedi, told our correspondent in frustration, “There is already fuel scarcity, brace yourself for round two.”

An official of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Akeem Balogun, has pushed for an increment in pump price to N180 per litre.




     

     

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    “With the current price of PMS at a private depot, there is no way we can sell less than N180 per litre. On this note, members are hereby advised to sell at a sustainable price within their environment. Just make sure that the price is on your pump. Kindly contact the secretariat should you have any authority challenging your operations,” Balogun wrote on his Facebook wall.

    The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) says it is iinvestigating the cause of the fresh round of scarcity. The Lagos Zonal Council Chairman, NUPENG, Tayo Aboyeji, in a phone call with The ICIR said the product was unavailable and could be linked to a shortfall from the NNPC.

    Aboyeji said, “Most of our depots don’t have fuel to load. We are still investigating what caused it. We cannot load fuel that is not available. We have been asking the same question why, maybe there is a shortfall in supply from NNPC. We don’t know what actually is causing the shortfall.”

    He dispelled the talk that the scarcity of the product could be a matter of increment in price, which he said he would regard as speculation until the NNPC wades into the matter.

    Experienced Business reporter seeking the truth and upholding justice. Covered capital markets, aviation, maritime, road and rail, as well as economy. Email tips to [email protected]. Follow on Twitter @theminentmuyiwa and on Instagram @Hollumuyiwah.

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