Port Harcourt — The Independent Petroleum Marketers Association of Nigeria, has blamed the persisting scarcity and price hike of Premium Motor Spirit on the Nigerian National Petroleum Corporation Limited, for shifting fuel supply from independent marketers to private tank farm owners.
The Vice Chairman of IPMAN in Rivers State, Mr. Tochukwu Dominic, explained that marketers are supposed to get petroleum products directly from NNPCL depots at government regulated price of N148 per litre and not from private tank farms.
Dominic disclosed that buying products from private tank farm owner’s leaves them with no option than to fall to the dictates of private depots which in turn affects the consumers, as the depot owners sell to marketers at higher price.
He maintained that as much as marketers keep getting petroleum products especially from private depots, fuel pump price will still be on the increase.
“Scarcity of product is the root cause of the hike in fuel pump price. The NNPC has found comfort in dealing only with private tank farms. We (independent marketers) have no other option but to fall to the dictates of these private tank farms.
“NNPC is the sole importer of petroleum products and there is no competition, of which deregulation of PMS will usher in. We independent marketers are supposed to be getting the products directly from NNPC at N148per litre, which will enable us to retail at government approved price of N175.
“But we independent marketers cannot source the products directly from NNPC, so we are left with no option but to source from anywhere, so as to remain in business.
“The solution is for governemnt to expedite action on fixing the refineries.”
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