Close Menu
    What's Hot

    XRP Price Ticks Up as TrustLinq Integrates Ripple Payments

    May 4, 2026

    Naira Rallies on $60m Interbank FX Turnover

    May 4, 2026

    CBN FX Intervention Declines by 83% to $150m in April

    May 4, 2026
    Facebook X (Twitter) Instagram
    • Home
    • About Us
    Facebook X (Twitter) Instagram WhatsApp
    MarketForces AfricaMarketForces Africa
    Subscribe
    Monday, May 4
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    Home - MarketForces News - Marketers Blame NNPCL for Fuel Scarcity
    News

    Marketers Blame NNPCL for Fuel Scarcity

    Marketforces AfricaBy Marketforces AfricaApril 29, 2024No Comments3 Mins Read
    Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
    Marketers Blame Nnpcl For Fuel Scarcity
    Share
    Facebook Twitter Pinterest Email Copy Link

    Marketers Blame NNPCL for Fuel Scarcity

    Marketers have blamed the fresh scarcity of Premium Motor Spirit (PMS) popularly known as petrol on a supply challenge from the major oil supplier in the country, the Nigerian National Petroleum Company (NNPC) Limited.

    The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, made this known on Monday on Channels Television’s The Morning Brief breakfast programme.

    The fresh fuel scarcity has grounded many economic activities in states across the Federation as Nigerians queue up at filling stations nationwide.

    While some motorists were lucky to get fuel at some retail outlets for between N700 and N,1200 per litre after hours of sweat and contest, others weren’t so lucky as many retail outlets were shut, with their excuse being supply challenge.

    The shortage of the premium product saw the black marketers selling the petrol for as high as N2,000 per litre in states.

    Snake-like queues at filling stations in Lagos, Abuja, Port Harcourt, Kaduna, Sokoto, Kano and other places have worsened the traffic situation in the states as the long queues spilt on major roads, hindering movement just as thousands of people were stranded at bus stops with transport fares as high as double the former amounts.

    Though many outlets owned by independent oil marketers remained shut, checks by our correspondent in Lagos showed that NNPC retail outlets sell petrol at N568 per litre but not many motorists could survive the unending queues and jostling for sometimes six hours.

    Last Thursday, NNPC spokesman, Olufemi Soneye, said the “tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved”.

    The NNPC also said the prices of petroleum products won’t change and urged Nigerians to avoid panic buying as there is a sufficiency of products in the country.

    However, PETROAN boss, Billy Gillis-Harry, said the supply challenge has not been resolved though he acknowledged efforts by NNPC to solve the problem.

    Gillis-Harry said, “NNPC has its own outlets that they also serve. So if they have some logistics issues, that will possibly be what is internal to NNPC. But as for us, PETROAN members, we can tell Nigerians for real that if we have petroleum products delivered to us, supply to us upon payment for those same products, we will supply to Nigerians.

    “I would like to correct Nigerians that we retail outlet owners or marketers as they generally call all of us is the reason for this. We do not have any reason not to serve the public and we are willing to serve the public. All that is required is for us to have petroleum products delivered to us from NNPC and we will make sure that our retail outlets are open, some of them are even open for 24 hours.

    “The challenge of logistics is only relevant to the NNPC retail outlets.”

    Last May, President Bola Tinubu removed the subsidy on petrol with the pump price of the product jumping from about N184 to about N600 per litre. The move aimed at the deregulation of the oil sector has inflicted untold hardship on Nigerians with the prices of basic commodities going through the roof.

    On Sunday, the President defended his action again when he told world leaders at the World Economic Forum in Riyadh, Saudi Arabia, that his administration’s decision to remove the petrol subsidy was very necessary to prevent the country from going bankrupt.

    Eurozone Economic Sentiment Slides in April

    FGN Investors Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Related Posts

    News

    XRP Price Ticks Up as TrustLinq Integrates Ripple Payments

    May 4, 2026
    News

    Naira Rallies on $60m Interbank FX Turnover

    May 4, 2026
    Uncategorized

    CBN FX Intervention Declines by 83% to $150m in April

    May 4, 2026
    News

    NNPC Signs Deal to Restart, Expand Warri, Port Harcourt Refineries

    May 4, 2026
    News

    Equity Investors Gain N63 bn in Nigerian Stock Market

    May 4, 2026
    News

    Nairobi Exchange Tanks, Absa, StanChart Drag Banking Index

    May 4, 2026
    Add A Comment

    Comments are closed.

    Editors Picks

    XRP Price Ticks Up as TrustLinq Integrates Ripple Payments

    May 4, 2026

    Naira Rallies on $60m Interbank FX Turnover

    May 4, 2026

    CBN FX Intervention Declines by 83% to $150m in April

    May 4, 2026

    NNPC Signs Deal to Restart, Expand Warri, Port Harcourt Refineries

    May 4, 2026
    Latest Posts

    XRP Price Ticks Up as TrustLinq Integrates Ripple Payments

    May 4, 2026

    Naira Rallies on $60m Interbank FX Turnover

    May 4, 2026

    CBN FX Intervention Declines by 83% to $150m in April

    May 4, 2026

    NNPC Signs Deal to Restart, Expand Warri, Port Harcourt Refineries

    May 4, 2026

    Equity Investors Gain N63 bn in Nigerian Stock Market

    May 4, 2026

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    About US
    About US

    MarketForces Africa is a financial information service provider with interest in media, training and research. The media platform provides information about markets, economies, and crypto, forex markets and investment ecosystem.

    Contact Us:
    Suite 4, Felicity Plaza, Freedom Estate Drive, Lagos-Ibadan Express Road, Magboro
    T: . 08076677707, 08052076440

    Facebook X (Twitter) Instagram Pinterest YouTube
    Latest Posts

    XRP Price Ticks Up as TrustLinq Integrates Ripple Payments

    May 4, 2026

    Naira Rallies on $60m Interbank FX Turnover

    May 4, 2026

    CBN FX Intervention Declines by 83% to $150m in April

    May 4, 2026

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2026 Marketforces Africa
    • About
    • Contact us
    • Subscription Plans
    • My account

    Type above and press Enter to search. Press Esc to cancel.