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Home Business News Business

Oil marketers raise alarm over inferior petrol in some retail stations

Chike Olisah by Chike Olisah
October 7, 2023
in Business, Business News, Energy
Why fuel subsidy removal cannot wait any longer - energy expert
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Oil marketers have raised alarm over the lightness of Premium Motor Spirit (PMS) otherwise known as petrol in some filling stations, noting that the products are inferior to the quality the Nigerian Midstream and Upstream Regulatory Authority (NMDPRA) approved.

While attributing this to lack of locally refined petrol, the marketers described some of the products imported to Nigeria as evaporating and non-durable.

This was made known by the National Vice President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. John Keke Ocha, at Natural Oil and Gas Suppliers Association of Nigeria (NOGASA)  National Executive Council (NEC) in Abuja.

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Ocha maintained that lack of adequate legitimate domestic refining of petroleum has paved the way for the importation of all manners of products to meet consumer needs, leaving the comnsumers with no other choice.

FG should look inward

The IPMAN top official advised the Federal Government to look inward to ensure the national and private refineries are functional.

  • He said, “The prayer of this house is that government must look inward to ensure our refineries are put to use to create room for reduction of these high petroleum products importation as we are saying today.
  • “A lot of people don’t use their vehicles again. If you put N20,000 or N30,000 fuel in your car, before two days the thing is gone. I don’t know whether it is evaporating. “Sometimes, I ask myself what has happened to the N30,000 fuel that I bought yesterday. The thing (fuel gauge) has started showing red.
  • “I don’t know if the type of product we have is no more like the original product that we used to get.
  • “This is because the competition has made it convenient for importers to get very light and all kinds of product to the country. And we accommodate it because we don’t have alternative.
  • “But if we produce it in this country, we will have choice. If we produce in this country, we will select. If we produce in this country, it will make it even more competitive and cheaper.
  • “That is the prayer of this house: the government must look inward and make life easy for people by making sure refineries are put in place to function.”

Meanwhile, there is yet to be an official response from the NMDPRA on the subject matter.


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Tags: IPMANJohn Keke OchaNMDPRA
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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Comments 1

  1. Japa Queen says:
    October 7, 2023 at 10:27 pm

    Seems oil marketers are struggling to come to terms with the new normal….clearly subsidy money was sweet – unfortunately for them but fortunately for the country that time is over – they should stop the negative media campaign and embrace the times….

    Reply

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