IPMAN's Revealed the Length of Fuel Scarcity

IPMAN’s Revealed the Length of Fuel Scarcity. The Independent Petroleum Marketers Association of Nigeria (IPMAN) addressed the ongoing fuel scarcity in Nigeria, stating that it is spreading to more states across the country.

According to IPMAN, it will take at least two weeks to normalize the situation.

Chinedu Ukadike, the Public Relations Officer of IPMAN, stated that petrol is currently unavailable in the country.

He attributed the challenge of sourcing the product to the fact that most refineries in Europe are undergoing turnaround maintenance.

Additionally, Ukadike blamed the acute shortage in supply on importation bottlenecks and the slow pace of marketers’ license renewal by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Chinedu Ukadike revealed that out of 15,000 marketers, only 1,050 have had their licenses renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

He explained that the current scarcity is due to a lack of supply or inadequate supply, leading to queues at filling stations.

The challenges faced by the National Petroleum Corporation Limited (NNPCL), the sole supplier of petroleum products in Nigeria, include logistics and vessel problems.

Ukadike mentioned that disruptions in the international supply chain and turnaround maintenance at refineries in Europe have contributed to the difficulty in sourcing petroleum products.

He mentioned that the NNPC Group CEO has assured improvement in the supply chain as vessels is arriving, which should restore normalcy.

However, he noted that once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it.

Regarding challenges faced by marketers in renewing their licenses, Ukadike stated that NNPC has closed its portal for marketers who have not renewed their licenses.

This has prevented them from requesting new products, contributing to the scarcity. He highlighted that despite the deadline set by NNPC for license renewal, only a small fraction of marketers have been able to renew due to the extensive requirements imposed by NMDPRA.

Ukadike appealed to NNPC to extend the renewal deadline and urged NMDPRA to expedite the release of licenses for marketers who have completed the renewal process, as well as reduce bottlenecks in the renewal process.