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The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, has said the Nigerian National Petroleum Company Limited (NNPCL) is responsible for the current petrol scarcity.

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Marketers attributed the current petrol shortage to a shortage in NNPC’s supply, while the national oil company blamed it on problems with logistics but stated that it had addressed the concern.

In a chat with The Punch, Maigandi said the petrol scarcity was a result of logistics problems from the NNPCL and the marketers.

He said: “NNPCL told us that they had a problem with logistics, but the problem is over now, and they will start supplying products to the various depots so that we can go and start loading with immediate effect.

“Now that we have started loading, we also have logistics problems because we have to carry products from the private depots to our filling stations, which we have started doing. By God’s grace, I know the queues should clear soon.

“However, I cannot specifically tell you the time because it takes time before we can start moving the products into various states. We are addressing our logistics problem, and we are expecting our members to start loading in full.”

The IPMAN president explained that dealers load products from Lagos, Port Harcourt and Warri depots to other destinations across the country, adding that there was no official plan to hike the price of PMS.

He added: “Products are mainly loaded from Warri, Port Harcourt, and Lagos to other parts of the country, particularly to the northern states. The trucks have started coming in, as some filling stations in Abuja have started getting fuel, but we still have queues because, up until now, some people have been involved in panic buying.

“Many people want to buy because they feel the scarcity will linger till the end of this week or they feel that there is a price change, which is not true. There is no change in price and we have not heard about such a plan.”

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Business

NNPC is hiring individuals to join their dynamic team. If you’re passionate about working with oil company, this might be a great opportunity. See flyer for details.

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July 27, 2024

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ATTENTION: NNPC is hiring individuals to join their dynamic team. If you’re passionate about working with oil company, this might be a great opportunity. See flyer for details.

 

Application link 👇

https://careers.nnpcgroup.com

Share to your loved ones!

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Gabon Invites Dangote To Explore Business Opportunities, Amid Attacks In Nigeria.

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July 24, 2024

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President Brice Oligui Nguema of Gabon has invited Africa’s wealthiest man, Aliko Dangote, to invest in his country.

According to Dangote Industries Limited, the billionaire was asked to explore investment opportunities in Cement and Fertiliser (Urea and Phosphate).

“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said in a statement.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.

According to the statement, Dangote conversed with Nguema and other top government officials during the visit.

“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” Dangote Group said.

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Fuel crisis: Marketers project N700bn monthly subsidy

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July 24, 2024

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Monthly Subsidy: Oil marketers project a monthly subsidy of about N707 billion due to the high landing cost of petrol

Landing Cost: The landing cost of petrol is N1,117 per liter, which is the main reason for the high monthly subsidy

Dangote Refinery: The Dangote Petroleum Refinery is expected to begin petrol production in August, but the company might export the product due to crude oil supply crisis and regulatory challenges

Government Intervention:  The Minister of State for Petroleum Resources, Heineken Lokpobiri, met with officials of Dangote refinery and other stakeholders to address the concerns between Dangote refinery and oil sector regulators and operators

House of Representatives: The House of Representatives inaugurated an investigative committee to look into the non-availability of crude oil to domestic refineries and allegations of deliberate hike in the cost of the product for profiteering

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