There are strong indications that the shortages of petroleum products being experienced in different parts of the country may linger for the next one or two weeks.

The shortages, our correspondent gathered, were caused by disruptions to import schedules at the beginning of the year.

The President, Depot and Petroleum Marketers Association of Nigeria, Chief Sylverius Okoli, who spoke to our correspondent on the telephone on Tuesday, said petroleum products were on the high seas and that “in one week or two weeks, things will normalise.”

He said though the Petroleum Products Pricing Regulatory Agency’s first quarter import allocations were still operative, the second quarter import allocations were being expected this week.

“The minister (of Petroleum Resources) has assured everyone, and the banks have begun to give out credits. It is a short-term problem that will clear very soon,” Okoli said.

The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, also told our correspondent on the telephone on Tuesday that based on the assurances given by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and PPPRA to marketers and bankers on prompt subsidy payments, the major marketers had begun placing orders for fresh petrol imports.

However, he explained that it could take between one and three weeks for the imports to arrive depending on the product source.

“If you buy from the spot market, for instance, offshore Cotonou, it could take few days; if you are buying from Europe, it will take two weeks; and if you are buying from India, it should take more than two weeks,” he added.

However, Olawore refused to comment on when the shortages would totally disappear.

He also said the major marketers already had firm assurances from the PPPRA that import allocations for the second quarter of the year would be issued this week.

Meanwhile, fuel queues were seen at filling stations in different parts of Lagos State on Tuesday, with many of the stations shut because they had run out of petrol.

Petrol shortages have been recurring in different parts of the country for over three weeks because the major marketers had until few days ago suspended importation because of uncertainties surrounding subsidy payments for fresh imports this year.

The situation had left the Nigerian National Petroleum Corporation as the sole importer for some weeks.

The nation consumes about 35 million litres of petrol per day, but there are indications that the market is currently getting about half of the figure because of the earlier stoppage of importation by the marketers.


http://www.punchng.com/business/business-economy/petrol-shortages-may-linger-for-two-weeks/

we heard this same story 6 weeks ago

Its either the people managing the system are incompetent and as always corrupt or the structure is incompetent ev en within the ministers and the people handling the system its just too pathetic and outright silly as incompetence holds sway

Ok o.

Donlittle:

The shortages, our correspondent gathered, were caused by disruptions to import schedules at the beginning of the year.

how come? After two whole months. Those importer should better be serious about business or come together to build refineries. See how the masses are been forced to pay the price.

yeye democrats