The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, have blamed the increase in fuel pump prices at private tank farms as the cause of the fresh fuel queues that have resurfaced across Lagos.
This was disclosed on Tuesday by Alhaji Dele Tajudeen, the Chairman of IPMAN Western Wone. The association also noted that none of the Nigerian National Petroleum Company Ltd. (NNPC) depots has PMS, another factor that has contributed to the problem.
Nairametrics reported earlier today that Lagos and other states are experiencing fuel scarcity as motorists queue in long lines in front of filling stations.
What IPMAN said:
Alhaji Dele Tajudeen said marketers have been increasing in depot price of fuel from N148.17 per litre to N178 per litre since last week, noting that this was because no NNPC depots has PMS. He said:
- “The only option for our members is to opt for private depots to keep our business moving. We are totally against the increase because it will affect our profit margins and the masses. Some private depots who have the product, deliberately, refused to sell for reasons best known to them.”
He added that marketers should not be blamed for the increase in pump price. He said:
“Selling at N170 per litre is not realistic. Therefore, our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun and Oyo states, while we will sell between N200 and N210 in Kwara, Ondo, Osun and Ekiti states.
“Most of the tank farm owners have justified this increase because of different charges, among which is vessels charges paid in dollars.
“We are equally calling on the management of the Nigerian National Petroleum Company Ltd. (NNPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to investigate the arbitrary increase in fuel price by the private depot owners.”
What you should know
The scarcity is already taking its toll on commuters. The long queues appear to have gotten worse in various parts of Lagos on Tuesday, spreading from Lekki, Lagos Island to mainland Lagos, including Ikeja the capital of Lagos State.
Recent data from the National Bureau of Statistics (NBS) for September shows that Nigerians across the country paid as much as N191.65 per litre of petrol, also known as premium motor spirit (PMS).
The average price Nigerians paid for petrol in September increased by 1.15% from N189.46 which was the price per litre of petrol in August 2022.
The current petrol price also indicates a 16.26% increase when compared to the amount Nigerians paid for a litre of petrol in September 2021 which was N164.85 per litre,
