Long queues have surfaced across petrol stations as over 90 per cent of fuel stations are shut in the Federal Capital Territory and other states.
But the spokesperson for Nigerian National Petroleum Corporation (NNPC), Kennie Obateru said there was no need for panic buying, insisting that “NNPC has over 2 billion litres of premium motor spirit in stock to guarantee steady supply and at least 60 -day-product supply sufficiency” a Guardian report says.
Fuel stations were shut across the capital city on Tuesday, including some NNPC retail stations.
Most of the stations visited were shut from Monday evening. As of close of work on Monday, no fuel station was selling to motorists along the Kubwa and airport expressway except Shema at the Katempe area of the city.
In Maitama only FO station was opened. The station was also dispensing in the Jabi Area of the FCT. Oando, Total, A.Y Ashafa, A.A. Rano and most of the leading marketers in the city did not open to motorists.
The development, which has created traffic gridlock across locations where fuel is sold, has also led to the emergence of black marketers, who are already selling a litre for N250 against the official pump price of N160.
The Guardian also observed that marketers, who were selling at N158 per litre have already adjusted their meter upward although most of them sell within the stipulated price band, capped around N160.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) told The Guardian that prevailing situation in the country, especially the endears protest disrupted supply and left losses for marketers.
Vice President of IPMAN, Abubakar Shettima, said apart from the fact that some fuel stations were shut as a result of fear of attack by hoodlums, most trucks are stranded across depots in Lagos.
Nigeria consumes about 50 million litres of PMS daily. Mainly imported from Europe into Lagos seaport, in the absence of pipelines, the products are loaded into trucks and transported across the country. Logistic challenges including bad road have in the past affected supply of products across the country as trucks travel for over three days to get to some locations.
The Major Oil Marketers Association of Nigeria (MOMAN) said there was no reason for the scarcity, stressing that the country has sufficient product.
A source at the association blamed the development on the prevailing situation in the country, adding that the Endsars protest had forced some dealers to shut their stations.
He added that there should be no panic as the group have stock of PMS in abundance in all marketers’ depots including NNPC depots.