Oil marketers confirmed on Friday that the national oil
company listened to their demands for an increase in the volumes of PMS
released to independent filling stations, so as to curb the widening disparity
in the cost of petrol.
NNPCL said they had now improved the availability of
products in retail outlets operated by independent marketers, adding that the
national oil firm also promised to sustain this.
On Wednesday, oil marketers warned that there could be an
imminent hike in fuel price due to the poor supply of the commodity by NNPCL.
They cautioned that the disparity in the pump price of
petrol would further widen due to the incomplete delivery of products to many
filling stations.
According to the report, dealers under the aegis of the
Independent Petroleum Marketers Association of Nigeria, said there was a
lopsided pattern in the distribution of PMS lately, stressing that this would
cause scarcity and worsen the price disparity in retail outlets.
“Here in Port Harcourt, for instance, we have Oando and NNPC
Retail, and they have products in some private depots. Master Energy and Liquid
Bulk also have products, but there is no volume for independent marketers,” the
National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, had stated.
He added, “Independent marketers have no volume in all these
depots and we have over 3,400 tickets lying and waiting at the NNPC Retail
account.
“This new system is now making independent marketers beg for
petroleum products from NNPC Retail. The lopsided distribution pattern will
continue to cause scarcity and price disparity in retail outlets.”
But when asked on Friday whether the NNPCL had listened to
the demands of oil marketers, in order to avert the imminent price hike,
Ukadike replied in the affirmative.
He said, “The NNPCL supplied 13 million litres and informed
us about it. This is to cushion the effect of the poor supply in the affected
areas. They also promised that they will ensure that marketers are given
products back-to-back.”
The IPMAN official assured PMS consumers that with the
sustenance of adequate supply by NNPCL, the cost of petrol at filling stations
operated by independent marketers, would always revolve around the government-approved
price.
NNPCL is the sole importer of PMS into Nigeria and this has
continued for several year. Other marketers stopped importing the commodity due
to the difficulty in accessing the United States dollar for PMS imports.
The marketers now source the commodity from NNPCL at a
subsidised cost, for onward distribution to consumers across the country.
“That is the situation of things now. The recent supply of
PMS has really helped in making the product available in many retail outlets
across the country. So, with enough supply, the issue of unnecessary price
disparities would be addressed,” Ukadike stated.
The consumption of petrol in Nigeria had risen to about 80
million litres daily, pushing up subsidy on the commodity to an estimated
N484bn monthly.
The report stated that an analysis of PMS weekly
evacuation/dispatch data from March 4 – 10, 2023, obtained from NNPCL,
indicated that a total of 558.83 million litres of petrol was evacuated during
the period, translating to an average daily consumption of 79.83 million
litres.
Around mid-last month, the Group Chief Executive, NNPCL,
Mele Kyari, said about 66 million litres of petrol was pumped daily into the
market by the oil firm, as the company was spending about N202 on every litre
of PMS consumed across the country.