Petrol scarcity intensifies as marketers point fingers at NNPC and DAPPMA, accusing them of causing the shortage.
The alleged questionable transactions between the Nigerian National Petroleum Company Limited (NNPCL), Depots, and Petroleum Products Marketers Association of Nigeria (DAPPMA) have been cited by petroleum marketers as the root cause for the present shortage in petroleum products.
These parties are also accused of having connived with Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which is responsible for regulation within the industry.
According to the marketers, the transactions between NNPC, tank farm owners and NMDPRA would be detrimental to product availability and cause disruptions in retail distribution.
Given this context, the downstream operators have appealed to President Bola Tinubu for immediate intervention in the matter.
The unnamed marketers disclosed that since NNPCL is the only importer of these products, Independent Marketers with the most widespread retail outlets in the nation are now at the mercy of DAPPMA (the tank farm owners).
According to Obasanjonews.com, NNPCL exclusively supplies petrol at the depot rate of N556.5 per litre to private depots owned by DAPPMA members.
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Investigations revealed that tank farm owners sell to marketers at a price ranging from N700 to N740.00, which results in minimal or nonexistent marginal profit for selling at stations.
An anonymous marketer revealed that in the past, NNPCL allocated portions designated for independent marketers to private depot owners who would then sell them at a reasonable price with a benchmark.
Currently, independent marketers are not given any allocation and have to rely on the tank farm owners. The absence of an ex-depot price would be detrimental for the industry. Private depot owners charge N800 that will eventually get sold at retail stores to regular Nigerians by us.
“We, the marketers, are being accused by Nigerians of hoarding products and selling them at excessively high prices. Rather than regulating the tank farm owners’ activities through thorough scrutiny, as should be done by the midstream regulatory agency, they are unfairly putting all blame on us for adhering to ex-depot pricing.”
A group in the sector is causing issues for President Bola Ahmed Tinubu, and he needs to exhibit resolute determination in dismantling their coalition. The tank farm proprietors have several stations, but they are generating significant income at the expense of Nigerian citizens.
