Oil marketers in Nigeria, the Independent Petroleum Marketers Association of Nigeria (IPMAN), has explained the reason for the current scarcity of Premium Motor Spirit (PMS), popularly called petrol, saying the situation may continue for two more weeks.
This was revealed by the Public Relations Officer of IPMAN, Chinedu Ukadike, while reacting to the lingering scarcity of the product as it spreads to several states.
Speaking to Vanguard, Ukadike confirmed the product is currently not available in the country, saying it is a challenge sourcing it because most refineries in Europe are undergoing turnaround maintenance.
However, their turnaround maintenance is not ad infinitum as is the case in Nigeria. They follow strict timelines.
Addressing the scarcity of the product, he said: “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 has 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 in addition to this, blamed the acute scarcity of the product on importation bottlenecks and the pace at which the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), renews marketers’ licence.
The statement also proves there is something not going on well with the Dangote Refinery and Port Harcourt refinery which Nigerians had expected should have long started producing all kinds of product including PMS and cooking gas which would phase out importation and drastically reduce the price of the products and totally wipe off what Adams Ishiomhole called “corruption index” in the sector when he was NLC President.
