The Independent Petroleum Marketers Association of Nigeria, IPMAN, has stated that Premium Motor Spirit, PMS, may persist for two extra weeks.
IPMAN Public Relations Officer, Chinedu Ukadike revealed this in a reaction to the lingering fuel scarcity across the country.
Ukadike added that the product scarcity is due to the challenges of sourcing the product, as most refineries in Europe are undergoing turnaround maintenance.
“Once there is a breach in the international supply chain, it will have an impact on domestic supply because we depend on imports.”
“I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products have become a bit difficult.”
“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving.”
“Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it.”
Ukadike also blamed the acute scarcity of the product on importation bottle-necks and the pace at which the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, renews marketers’ licence.
Meanwhile, transportation in most States has been grounded following the persistent fuel scarcity issue, as some fuel stations have shut down, while others are accused of hoarding the product.
