Nigeria to overcome fuel scarcity as marketers get access to forex

It appears that a temporary end to the continued scarcity of petrol across the nation is around the corner.

The Independent Petroleum Marketers Association of Nigeria, has declared that access to foreign exchange has been granted for the importation of petroleum products.

With the access, it relatively means that the marketers would be able to deal with refineries and purchase petrol which would in turn be imported into the country and distributed across filling station through the country.

It just might spell the end for the frustratingly long queues at fuel stations in the search for the essential petroleum product.

Also, Major Oil Marketers, MOMAN, claim to have 10 days worth of stock at their depots with over 4 other ships not discharged yet totaling into 85 million litres of petrol.

Nigeria is believed to consume an average of 40 million litres of petrol daily.

The National Secretary, IPMAN, Alhaji Hassan Kirmi, who spoke to Vanguard newspaper, said: “So many of our members are bringing in product, which means they have accessed FOREX. But the complaint is that the FOREX is not forth coming as it were.”

“There are enough products at almost all the tank farms in Lagos, Port-Harcourt and Warri. Nigerian National Petroleum Corporation, NNPC had on Friday structured the distribution chain into six geo-political zones that distribute petrol across the country and they are very effective.”

“Our members are importing from Warri, Port-Harcourt, Lagos, Calabar. There is much product coming into the country, we have over 20 vessels on ground and refineries are producing.”

“Also, we have presented our case to the government on the issue with the landing cost. That is why they are contemplating of bringing in subsidy.”

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