Oil and Gas Expert, Chuks Emeka, has said that the refusal of marketers to sell fuel at the current prices is causing the ongoing scarcity.
During an interview with ARISE NEWS on Wednesday, Emeka said that prior to the fuel scarcity, NNPC had stated there was a shortage of diesel worldwide. “Our challenge goes down to the marketers; they are not willing to sell products at the current price so they are having challenges because they want to take the price up to meet overhead costs,” Emeka explained.
He further noted that many marketers find it unprofitable to sell at ₦650 and ₦630 per litre, preferring to sell at higher prices to cover expenses, such as the high cost of diesel for transport. “Most marketers don’t want to sell at ₦650 but at ₦850,” Emeka said, pointing out the significant gap between what NNPC sells to the marketers and what the marketers wish to charge the public.
Emeka highlighted the bottlenecks between tank farms and filling stations, which exacerbate the scarcity. “In between the tank farms and filling stations are the oil marketers, and they are saying we can’t sell at this price,” he noted.
He emphasised that NNPC remains the sole importer of PMS and is firm on its pricing strategy. “NNPC is saying if we are going to sell to you at ₦530 then sell to the people at ₦600 or ₦630 max; you can’t buy from NNPC at ₦530 then sell to the public at ₦850 or ₦1000, no it doesn’t work that way,” Emeka stated.
This situation reflects the broader challenges within Nigeria’s oil and gas sector, where pricing disputes and logistical issues continue to impact fuel availability.
NNEOMA UDENSI
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