By Tina Amanda
Independent Petroleum Marketers Association of Nigerian IPMAN Rivers State, laments over the looming scarcity of premium motor spirit (PMS) due to the non-availability of the product.
State Chairman IPMAN, Dr. Joseph Obele, in an interview with our Correspondent, disclosed that for about two weeks the nation has dried up as the petroleum distribution chain is experiencing turbulence.
According to him, it is evidence on the NNPC buying portal of marketers, stressing that Port Harcourt and Lagos have been deleted from the options. Which implies no stock at the moment.
“Landing cost as of two weeks ago was close to #800 per liter, hence the Federal government directed no further increment, importers then choose not to import.
“A short-term measure to help the circumstances could be allowing importers to increase the price by reflecting the prevailing landing cost or the federal government should tactically intervene by covering the additional cost which is invariably further payment for fuel subsidy. These are things you see when a policy is ill-timed.
“The scarcity of dollar has made it difficult for importers of Petroleum products to continue further importation”.
Obele further said the visitation of the Minister of State for Petroleum to the Port Harcourt refinery, shows that Mr. President is committed to making the refineries functional.
“All things being equal, the Port Harcourt refinery plant will be undergoing test running by late November and production by December 2023. I saw renewed commitment as most jobs at the rehabilitation site are now day and night operations”.
He described the three billion dollar loan obtained by NNPC for the sole purpose of stabilizing the financial crisis, as a futile purpose. Note that until the nation-owned refineries are functional, fuel prices will keep increasing, arising from international variables.
