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Home Sectors Energy

#EndSARS: IPMAN warns of looming fuel scarcity across the country

Chike Olisah by Chike Olisah
October 24, 2020
in Energy, Socio Economic
#EndSARS: IPMAN warns of looming fuel scarcity across the country, Update: Fuel scarcity looms as NUPENG directs Tanker drivers to withdraw services in Lagos
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned of a looming petroleum scarcity in the country, following attacks on fuel tankers and the disruption of depot operations across the country by hoodlums who had hijacked the #EndSARS protests.

READ: #EndSARS: Access Bank announces N50 billion interest-free facility for businesses

This disclosure was made by the Chairman of IPMAN in Rivers State, Dr. Joseph Obele, while speaking on a live radio program in Port Harcourt on Friday, October 23, 2020.

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Obele disclosed that about 10 petroleum tankers belonging to its members were attacked and destroyed across the country by these hoodlums during the protests, although he noted that there had been no fatalities.

READ: DPR cautions IPMAN against PMS diversion  

He said the scarcity of petroleum products could be inevitable if the situation failed to improve before filling stations exhausted their stocks.

Obele said, “About 10 of our trucks have been attacked nationwide by protesting youths, although there have not been casualties.

READ: #EndSARS: Feminist Coalition raise Cryptos worth $126,000

“Supply and distribution of petroleum products haven’t really been smooth, reason arising from the fact that 90% of our supply came from Lagos and there has been a skeletal supply schedule in Lagos for the past one week.

“Thursday’s case was worse, [as] all the depots in Nigeria were shut down. We don’t produce these products; we buy from depots and tank farms, and if these depots do not give us products, we fear that when we run out of stock, petroleum scarcity will happen.”

READ: #EndSARS: Coca-Cola donates N20 million to cover medical bills of victims

Backstory

Recall that the #EndSARS protest against police brutality and extra-judicial killings, which started peacefully about 2 weeks ago, was taken over by hoodlums who meted out violence with the looting and destruction of public and private properties across the country. This has also led to the loss of lives and disruption to socio-economic activities.

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Tags: #EndSARSIndependent Petroleum Marketers Association of NigeriaIPMANNigeria News
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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