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Fuel Scarcity: IPMAN Forecasts Two More Weeks of Disruption

Boom RadioNG | April 29, 2024

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has projected that the ongoing petrol scarcity, which has extended to more states, will persist for at least two weeks before normalizing. This announcement comes despite the Nigerian National Petroleum Company Limited’s (NNPCL) assurance of adequate product stock.

Chinedu Ukadike, the Public Relations Officer of IPMAN, attributed the scarcity to challenges in sourcing the product, citing ongoing maintenance at European refineries as a major hindrance. He also pointed to importation bottlenecks and delays in marketers’ license renewals by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) as contributing factors to the acute shortage.

Ukadike emphasized the impact of disruptions in the international supply chain on domestic supply, highlighting the dependence on imports and the current difficulties in sourcing petroleum products. He also revealed that only a fraction of marketers have had their licenses renewed by NMDPRA, leading to further constraints in the supply chain.

The situation has prompted appeals to the NNPC to extend the deadline for license renewals and for NMDPRA to expedite the release of licenses for compliant marketers. The renewal process has been described as burdensome, contributing to scarcity even when the product is available.

The IPMAN representative expressed hope for improved supply once NNPC’s vessels arrive, with an expected restoration of normalcy within the next two weeks. However, the challenges faced by marketers in renewing their licenses continue to pose significant obstacles to resolving the scarcity.

Written by Boom RadioNG

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