Nigerians Groan As Petrol Pump Price Nears N400/litre

As Premium Motor Spirit nearly reached N400 per litre over the weekend, buyers of gasoline have continued to sigh under the weight of soaring prices.

A market survey conducted over the weekend revealed that while stations affiliated with the Major Oil Marketers Association of Nigeria were charging about N190 per litre for their products, stations affiliated with the Independent Petroleum Marketers Association of Nigeria had abruptly raised their prices to between N320 and N340. 

Mike Osatuyi, National Controller, IPMAN Operations, stated to The Punch on Sunday that the price was unlikely to reach N400 per litre.

He claims that his supporters now purchase goods at depots for N280/litre. 

Last week, President Buhari established a 14-person group under his direction to provide answers to the ongoing gasoline shortage. 

The committee would be established this week, Osatuyi revealed. 

“Considering how the president set up the committee, Nigerians should anticipate positive results. The committee will consult with operators and stakeholders; they will schedule meetings with us and we will instruct them.

“If NNPC gives us products directly and we don’t have to pass through third parties, prices will crash. IPMAN members account for 80 per cent of products in the market. So, why won’t they give us products directly? Where MOMAN stations can’t get to, our members are there! 

As of the weekend, we bought the product for N280 per litre before we now add transportation on it depending on the distance. So, we will sell at any price.

“You can quote me on this. NNPC is subsidising their pockets and not Nigerians. The subsidy they claim is in their pockets,” he said.

Osatuyi alleged that the state oil firm had started to avoid talks with oil marketers, and had since abandoned them to their fate.

According to him, NNPCL had failed Nigerians as the firm was completely void of solution to the scarcity, adding that the new Managing Director of the NNPCL Retail, Hubbs Stockman had not agreed to meet with them recently to proffer a solution to the petrol crisis.

He claimed the President would not have set up a steering committee if the Nigerian National Petroleum Company Limited had not failed in its responsibility to address the fuel scarcity.

“There is currently confusion in the downstream sector because NNPCL has not been able to address the scarcity. There is no fuel. Even NNPCL has not been able to import fuel, because if they have, they will give us. Now, the white man is avoiding us. He does not want to address us. How can you set up a system, yet refuse to meet with us for feedback? I don’t know what they are hiding from us. The white man is not open with us,” Osatuyi said.