Private depots have raised the price of petrol by 6.7 percent to N240 per litre this week, from about N225 per litre the previous week.
This came as the Independent Petroleum Marketers Association of Nigeria, IPMAN, said the current petrol scarcity might continue till June 2023 when the government was expected to remove its subsidy.
The Chief Executive Officer, Nigerian Midstream Downstream Petroleum Regulatory Authority, NMDPRA, Engr. Farouk Ahmed, whose agency has the responsibility to regulate activities in the midstream and downstream sectors, did not respond to Vanguard’s inquiries, yesterday on the rise in the private depots price of petrol by 6.7 percent to N240 per litre.
It also showed that the NMDPRA has reopened the seven depots, including Bluefin, Rainoil, Ardova and Nepal that were shut for selling the product at over N148per litre.
Our correspondents, who visited the depots witnessed them still selling petrol at over N200 per litre to desperate independent marketers.
The National Operations Controller, IPMAN, Mr. Mike Osatuyi, disclosed in a telephone interview with Vanguard that members of the association have not started lifting the product at N148 per litre as earlier planned.
According to him, the current petrol scarcity might continue till June 2023, when the subsidy is expected to be removed by the Federal Government.
He said: “We are getting the product between N230 per litre and N240 per litre from the private depots. The price becomes higher when we add our transportation cost. So, there is currently no way we can sell at the government regulated price.”
He noted that his members have been unable to get their products at government-approved prices, which automatically pushed prices up at various pumps.
He said independent marketers are getting petrol from depots at N240 per litre, excluding transportation.
“We are getting the product between N230 per litre and N240 per litre, without transportation. If I get the product at N260 per litre, how much should I sell?
“It is a terrible situation and that is where we are.
There is rent and arbitrage and they are not giving us the product at the official price even though they (government) promised to do so.
“It is when the Federal Government removes subsidy on petrol that all these (petrol scarcity) will be over.”
On things returning to normalcy, he said: “There is hope in sight by the middle of the month but not immediately.”
Further, he said: “The solution is to deregulate and all the contestants for the presidency have said they will deregulate and Buhari said they will deregulate by June too.”
