April 16, 2024

As a result of the gap created in the distribution chain, the prolonged petrol shortage in the country will last till the end of February 202 .

Investigation by Vanguard indicated that the stoppage of the imported bad petrol, evacuation and importation of new product required a long time to actualise, leading to instability in the value chain, which needed some time to stabilise.

National Operations Controller, Independent Petroleum Marketers Association of Nigeria, IPMAN, Mike Osatuyi, who confirmed the development, told Vanguard: “At present, there is still shortage of petrol nationwide. Most of our members do not have the product because the depot owners and others prefer to supply their outlets at this time.

“But we expect that the instability will be over by the end of February 2022. The government said it has imported 2.1 billion litres of the product. Since this quantity is coming from the spot market, it will take some days to arrive. We are hoping that the expected arrival of the product will make a lasting impact.”

Similarly, the Managing Director/CEO, 11 Plc, Adetunji Oyebanji, who noted that the nation would require many days to recover from the fuel shortage, said: “The problem is now mainly operational. The system was starved of fuel for many days because of bad product disruption. Now, we have been loading continuously since last Monday.

“Certainly, the situation will be better in Lagos by Monday this week (today). But, it might take more days to ease in Abuja and other parts of the nation, due to trucks’ travel time, bad roads and other issues.”

Vanguard

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