The ongoing nationwide fuel scarcity could continue till December as predicted by petroleum product marketers.
Punch News cites the N413 billion subsidy arrears by the Federal Government, which is still awaiting clearance at the National Assembly, as a cause provided by interviewed marketers. A delay will be caused by the perfecting of paper work at this stage, asides getting the forex equivalent of the N413 billion payment. Overall, the process could take weeks, they claim.
The Chairman, Nigeria Union of Petroleum and Natural Gas Workers, Lagos Zone, Alhaji Tokunbo Korodo had this to say about the situation:
“Although approval had been made, the actual payment of the subsidy arrears is a different ball game. With the way things are at the moment, it will take between three and four weeks for us to have a normalised market.
“As we speak, some marketers are still cautious when it comes to importing product under the subsidy scheme. Government needs to build the confidence of marketers so that they can fully go back into the business. Otherwise, the scarcity situation might soon become unbearable.”
According to the Executive Director, Commercial of the Pipeline and Products Marketing Company, Mr. Justine Ezeala, the body is set to increase the volume of petrol transported to filling stations in an effort to tackle the artificial scarcity of fuel. Most NNPC retail mega stations have also been directed to commence 24-hour service.
Source: Punch News
