₦airaland Forum

Petroleum marketers have resumed importing petrol to supplement the country’s fuel supply, following the inability of the Dangote Refinery to meet demand.

Four vessels carrying 123.4 million litres of Premium Motor Spirit (PMS) arrived at Nigerian seaports between Friday, October 18, and Sunday, October 20.

POLITICS NIGERIA reported earlier that the failure of the 650,000 barrels per day Dangote Refinery to meet its promised production target raised concerns about fuel scarcity.

Oil dealers had earlier disclosed that the refinery was producing only 10 million litres of petrol daily, far below its initial promise of 25 million litres.

It is understood that the federal government’s full deregulation of the downstream oil sector has created room for PMS imports. Dealers took advantage of the fair market price to import about 141 million litres of PMS in September.

According to a document obtained from the Nigerian Port Authority, the four vessels berthed at the Apapa port in Lagos and the Calabar port in Cross River State.

35,000 metric tonnes of PMS arrived at Apapa port on Friday, October 18; 37,000 metric tonnes of fuel arrived at Apapa port on Friday, October 18; 10,000 metric tonnes of fuel arrived at Apapa port on Friday, October 18 and 10,000 metric tonnes of fuel arrived at Calabar port on Sunday, October 20, findings by Punch Newspaper revealed.

Using the conversion rate of 1,341 litres to one metric tonne, the total importation stands at approximately 123.4 million litres of petrol.

Salewa97:
Toh

Anither563:
This is the free market in action.

Wisdomkosi:
It is understood that the federal government’s full deregulation of the downstream oil sector has created room for PMS imports.

CodeTemplarr:
I get the impression the marketers are blackmailing refiners (with hope of NNPC stepping in and pressuring refiners or subsidizing) into selling petrol at below intl cost.
If they are not eyeing smuggling across borders i see no reason to be crying more than the bereaved(the poor masses). Their job is to buy and resell at a profit and not to push for lower prices for final consumers around west africa and in Nigeria.

Anither563:
This is the free market in action.

Omololupromise:
Importation and dangote price are almost same so they prefer to import