The Nigerian National Petroleum Company Limited (NNPCL) has abruptly ceased the sale of Premium Motor Spirit (PMS), commonly known as petrol, to the Independent Petroleum Marketers Association of Nigeria (IPMAN). This move comes against a backdrop of significant fuel price increases across the country.
Following a recent upward adjustment by the NNPCL, the price of petrol at major filling stations in key cities such as Abuja, Lagos, and Delta has surged to between N855 and N1000 per liter.
In contrast, independent marketers have reportedly been selling petrol at elevated prices ranging from N1200 to N1300 per liter in some states.
The price hike has had a pronounced impact on fuel availability. Many filling stations, particularly in major urban centers, are currently not dispensing fuel, contributing to widespread shortages.
Hammed Fashola, the National Vice President of IPMAN, confirmed in a recent statement that the NNPCL has prohibited its members from purchasing petrol at the depots. This restriction has exacerbated the fuel supply challenges and heightened tensions within the sector.
The NNPCL’s decision is part of a broader strategy to manage the impact of fluctuating global oil prices and to address supply chain inefficiencies.
However, the abrupt halt in sales to independent marketers raises concerns about the immediate accessibility of fuel and potential further increases in fuel prices.