Abuja and neighbouring states are experiencing a resurgence of fuel queues as many independent filling stations close their doors due to a significant increase in the ex-depot price of gasoline. The price hike, reaching N710 per litre at private depots, has created a supply bottleneck, affecting motorists and causing congestion at operational stations.
Key Points:
- Fuel queues reappear in Abuja, Niger, and Nasarawa States.
- Independent marketers close stations due to high ex-depot prices.
- NNPC and major oil marketers’ stations face massive queues.
- Private depots selling at N710/litre vs. NNPC’s N617/litre retail price
The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributes the current situation to the actions of private depot owners. IPMAN’s National President, Abubakar Maigandi, explained that the price disparity between private depots and NNPC retail outlets has made it challenging for independent marketers to remain competitive.
Impact on Fuel Distribution:
- IPMAN members, who operate over 70% of filling stations nationwide, struggle to access affordable fuel.
- Transportation costs further increase pump prices for independent marketers.
- NNPC’s limited supply to IPMAN members exacerbates the situation.
Market Dynamics:
- The deregulated downstream oil sector allows for price fluctuations.
- Officials claim sufficient fuel stock, attributing queues to market challenges.
- NNPC assures quick resolution of the situation.
Expert Opinion: Maigandi emphasises that the fuel scarcity is primarily a market challenge rather than a supply issue. He states, “There is no scarcity. There is a product. The queues are caused basically by the market challenge, as I have explained to you. But as soon as we get products from NNPC or at fairly good prices, we will dispense, and the queues will vanish.”
Outlook: As negotiations continue between IPMAN and NNPC for increased fuel allocation, motorists in affected areas may face short-term inconveniences. However, officials remain optimistic about a swift resolution to the current fuel distribution challenges.
This rewritten version focuses on key information, uses bullet points for clarity, and incorporates relevant keywords for improved SEO. The structure is more organised, making it easier for readers to grasp the main points of the situation.