The Independent Petroleum Marketers Association of Nigeria has attributed the current fuel scarcity to the combination of low refining capacity and inconsistent government policies in the petroleum sector.

IPMAN Deputy President, Zarma Mustapha, disclosed this on Tuesday while reacting to the concerning development of Nigerians grappling with fuel scarcity, with widespread reports of long queues at petrol stations across the country.

Speaking on Newsnight broadcast by Channels TV, Mustapha said the scarcity is a result of the dwindling supply of petroleum products, particularly Premium Motor Spirit, commonly known as petrol.

According to the IPMAN official, the roots of the current fuel scarcity can be traced back to the late ’70s when the Nigerian government established IPMAN and other major marketers to alleviate supply challenges in the petroleum sector.

He said, “Despite efforts to expand refining capacity and build infrastructure such as depots and refineries, the country has failed to keep pace with the growing demand for petroleum products, leading to recurrent shortages. There is a need for continuous investment in refining infrastructure to meet the needs of Nigeria’s burgeoning population and economy.

“Government policies have also played a significant role in exacerbating the fuel scarcity situation. Inconsistencies in pricing regulations, particularly regarding PMS, have deterred private investors from participating in the importation and distribution of petroleum products. While certain products like Automotive Gas Oil (AGO) and kerosene have been deregulated, PMS remains under the control of the NNPCL, further limiting competition and supply chain efficiency.

“Despite efforts by some independent marketers to import petroleum products, the unfavourable foreign exchange rates and high operational costs have rendered such ventures unprofitable. The disparity between the exchange rates at which NNPC imports fuel and the prevailing market rates has discouraged private importation, leaving NNPCL as the primary importer of PMS. As a result, independent marketers like IPMAN are left to rely on NNPC for their supply, impacting their bottom line.”

The IPMAN official, however, urged the Federal Government to review its policies and increase investment in refining capacity to ensure a stable and reliable supply of petroleum products in the country.

“While IPMAN acknowledges the role of market dynamics in determining retail prices, the association emphasises the importance of consistent supply to meet consumer demand.

“The current situation highlights the urgent need for a comprehensive review of government policies and increased investment in refining capacity to ensure a stable and reliable supply of petroleum products across Nigeria.

“As citizens endure the inconvenience of fuel scarcity once again, stakeholders look to the government for effective solutions to address the underlying issues plaguing the country’s petroleum sector,” he added.

Source: https://punchng.com/Petroleum-marketers-knock-FG-policies-blame-scarcity-on-low-refining-capacity

Una just want make then increase pump price to favor una.

Dangote scamming Nigeria since 1872.


The whole refinery thing is all Ponzi scheme, MMM 2.0

lol Dangote nko?

This ipman self... The other they said it was because of refinery maintenance in Europe that caused it.... And again due to goings on between Iran and Israel and now this one... Ipman haba make una dey fear God

Let's all exercise patience. All these problems will be over once the Coastal Highway is completed.

EyeCumInPiece:
Let's all exercise patience. All these problems will be over once the Coastal Highway is completed.

Meaning no ending in sight

Government scam is biggest scam to ever happen to Nigeria and Nigerians.

This country wahala too much

Naijanascam:
This ipman self... The other they said it was because of refinery maintenance in Europe that caused it.... And again due to goings on between Iran and Israel and now this one... Ipman haba make una dey fear God

These are political games both sides know what they are doing

Sad .

But Out of the ₦15trillion coastal abracadabra - -

₦11trillion will build 20 mini refineries in 20states of the federation and will also take care of the piping systems that takes the crude oil from the nigerdelta to these refineries .

The remaining ₦4 trillion can build 18 mini Gas power generation station that could generate 150Mega watt each - producing a total of 2,700mw , effectively ending power outage in those 18 states where the Gas power turbines are situated

Association of thieves and exploiters. IPMAN was created to tortured ordinary common man.

Blame game continues instead of solutions.

But Tinubu is minister of petroleum

Tinubu is a disaster

his supporters are devil incarnates

Your party created a problem that you are yet to solve, you came in board and added your own fresh problem which you are now struggling to solve...

But wait O ., is it not funny that we are all waiting for a man who could not defend himself when questions were thrown at him at the chatam house or we should just say he is ruling the country base on answers from inexperienced fellows called ministers..

its well

Blames, knocks ...
And why is our refineries still not working?
We still importing fuel in 2024 when we have more than enough crude.
Na who do us self

There's GOD

schekubeh:
Blame game continues instead of solutions.

Can any solution come out of Tinubu

All the man thinks about his looting with coastal road awarded to hi tech

But onanuga and his gangs of clowns said the petroleum industry has gotten deliveries of millions of liitters of pms product that have already flooded the Nigerian market. These fools are taking Nigerians for fools

Were are those miscreants disturbing us on this forum that Port Harcourt refinery will start production by April & everything will normalize? Now we are buying fuel for 1k at filling stations.

KHAYGOLD:
Association of thieves and exploiters. IPMAN was created to tortured ordinary common man.

Tinubu the minister of petroluem was created to suffer Nigerians

We all that Tinubu is useless

EnEnPeecee:
But onanuga and his gangs of clowns said the petroleum industry has gotten deliveries of millions of liitters pms product

Lai Muhammad dey learn work from Onanuga

Ok

TinubuThief:
We all that Tinubu is useless

Nobody knows where the clown is..

probably in hiding recharging his batteries in a foreign hospital

while his Minister of health says Foreigners now come to Nigeria for medical treatment

APc dies when lies dies

ZombieTAMER:


Nobody knows where the clown is..

probably in hiding recharging his batteries

God punish Ebola Tinubu

Ok

We have major issues like this but some people insist on doing coastal roads first, instead of solving the major problems at hands

Just tell us when you finish deceiving each other.

Oh

Endless game of artificial scarcity and arbitrary fuel pump price increase.