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Marketers look to Ghana, Togo for fuel
Unable to source refined petroleum products from the Nigerian National Petroleum Corporation, marketers of the product in the country have resorted to neighbouring countries such as Ghana, Togo and Cameroun to buy fuel.
Their latest move is also spurred by the Federal Government’s indecision on the continuation of the fuel subsidy regime, as importers are reportedly also diverting their imported products to the neighbouring countries, where they are sure of getting real value for their products.
A source said the bulk of the products currently being consumed in the country came from the neighbouring countries.
The Vice Chairman, Independent Petroleum Marketers Association of Nigeria, Western Zone, Mr. Kunle Bamigboye, said the current petrol scarcity was as a result of acute shortage in fuel supply to depots, noting that the NNPC had stopped selling petrol in the last one week.
He lamented that four out of the six depots in the entire western zone had run out of supply, stressing that IPMAN members had no choice other than to buy from members of Depot and Petroleum Products Marketers Association selling at prices far above the official depot [price of N78 per litre.
Independent depots owners currently sell petrol between N95 and N100 per litre as ex-depot price.
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Bamigboye added, “The main source of our supply is from the NNPC but most of their depots are not loading. Therefore, we have no choice than to buy from DAPPMA and they sell above the regulated ex-depot price.
“As businessmen, we have to make profit and continue to stay in business. Without our patriotic support, the fuel scarcity would have worsened. IPMAN members now collect one allocation in two months unlike in the past where we loaded our complete allocation for each month.”
The DPR, which is the regulator of Nigeria’s petroleum industry, had accused marketers of distorting the status quo in the market, thereby causing fresh scarcity of petroleum products in the country, especially petrol.
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