The Independent Petroleum Marketers Association of Nigeria has said there is confusion in the oil sector in Nigeria, following the prolonged fuel scarcity that has been hitting hard on the country for months.
The Deputy National President, IPMAN, Zahra Mustapha, said this on Friday while speaking during an interview on Channels TV’s Sunrise Daily.
He said, “The fact of the matter is that we are in a very complex situation because the burden of subsidy that the government is carrying is no more sustainable and the volume that the NNPC for now, being the sole importer of the petroleum product, PMS, has been hit hard, because of that the supply that we receive as the marketers at the loading point is being reduced by over 50 per cent.
“As at today with what is trending in the private depots, the volume we are getting is not enough. With the look of things in the private depots, I assume it is not enough, because if they have it they won’t hoard it.” He, however, explained that “the cost of bringing the products to the public is not going to be achievable at the former price. With all sense of justification, I believe the regulatory body agreed to raise it up to the new amount.
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