Fuel queue at Rainoil filling Station along Oshodi road in Mafoluku… yesterday.<br />PHOTO: FEMI ADEBESIN-KUTI
…Queues resurface in Lagos
Apparently preparing Nigerians for a full deregulation regime, depot owners and some petrol marketers have again put the nation in another panic mode by hoarding available products in a push to ensure prices are adjusted to meet their operating expenses.
With products hoarded, fuel queues have emerged, forcing many motorists to engage in panic-buying, just as many retail outlets, especially those owned by independent marketers selling above the regulated price.
Long queues were witnessed in many parts of Lagos, yesterday, with the situation apparently worse on Ikorodu road, Maryland, Ikeja, Anthony, Bariga, Ilupeju and Gbagada areas as motorists become agitated after spending hours on queues.
The development left commuters stranded with traffic jams in major areas in Lagos as motorists struggled to get the product. Indeed, only retail stations owned by Major Oil Marketers Association of Nigeria (MOMAN) are dispensing products and selling at regulated price of N170 per litre, while some stations owned by Independent Petroleum Marketers Association of Nigeria (IPMAN) sell between N200 and N210 respectively.
The Guardian had reported marketers’ concerns about the sustainability of the present regulated pump price of petrol. In October, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, had promised that fuel queues will soon disappear, saying that stakeholders are meeting to find a lasting solution to all the issues that have been raised.
The Authority chief dispelled rumour of stock out, saying, “There is no truth to that at all. Although there may be some issues, unavailability of PMS is certainly not one of them. There is enough that can last more than 20 days. We have agreed that loading of PMS should start immediately and I can confirm that this has started. The queues will disappear in a matter of a few days.”