Posted by The Federal Government has been urged to make petroleum products accessible to the general public by the Independent Petroleum Marketers Association of Nigeria (IPMAN).
The association claimed that the lack of petroleum products is exacerbating the suffering of Nigerians, making it difficult for their members to obtain goods to distribute to customers.
In a press interview, Mr. Chinedu Anyaso, the group’s chairman of the Enugu Depot, commented on the high cost of petroleum in the South East.
In Anambra State, some gas stations sell a litre of fuel for as much as N350, while others only dispense N300.
This is a far cry from the product’s official pump price, which is N185 per litre, as set by the federal government.
“The NNPC has not provided fuel to independent merchants for a very long time,” Anyaso stated. We get the stuff from private tank farm operators who charge astronomical fees for it.
“As of December 31, 2022, merchants were paying N237 per liter for the commodity. After paying N3 in loading fees and N15 for transportation, the landing cost ranged between N255 and N260 per liter, depending on the region.
Despite the high price, obtaining the commodity is becoming increasingly challenging because the majority of private tank farm owners do not sell to marketers.
When asked how the issue might be resolved, the IPMAN director suggested that all of the nation’s refineries needed to be revived and that the Federal Government should be transparent about gasoline subsidies so that Nigerians could plan their activities.
He attributed the current product shortage and high price to the NNPC, which has the exclusive right to refine and import the good into the nation but has fallen short of expectations.
Mr. Anyaso pointed out that if the NNPC had imported enough goods as they consistently state, gasoline would be available, driving down the price of the good.
“If the federal government oversupplies the market with goods, prices will undoubtedly decrease. Since then, they have vowed to bring the Port Harcourt refinery online, but they have not done so.
“Warri refinery, Kaduna refinery nothing. Dangote refinery they said early this year, we are equally watching. Once these refineries are producing optimally, it will solve the problem of local petroleum needs of the country.”