Fuel Scarcity: There’s Enough Supply In Private Depots, Says Rivers IPMAN

Posted by African Examiner Featured, Latest Headlines, News Across Nigeria Tuesday, April 30th, 2024

(AFRICAN EXAMINER) – The Independent Petroleum Marketers Association of Nigeria (IPMAN) in Rivers State says Port Harcourt and other surrounding areas are unlikely to face the fuel scarcity hitting some parts of the country.

Queues have resurfaced in major cities like Lagos and Abuja, snaking into the roads and leaving millions of commuters stranded.

The IPMAN Rivers State Public Relations Officer Agbakwuo Uzochukwu said that the scarcity and price increases observed in some parts of the country stem from the closure of government-regulated depots limiting access for independent petroleum marketers. This closure, according to him forces, marketers to rely on private depots where prices are subject to fluctuations.

“So it may not rise to what other states are selling for now. But if all the states now are dependent on River State, automatically once the product goes down, it may start affecting us in River State,” he said on Monday evening. “So for now, there’s enough product in Rivers State.”

Uzochukwu warned that Rivers State could face similar challenges if government-regulated depots remain inaccessible and other states turn to private depots in the state for fuel supplies.

When Channels Television’s crew visited some filling stations in Port Harcourt on Monday, there was no scarcity of the product. However, it observed a slight price increase in the pump price of fuel. The new price of the commodity now ranges between N690-N700 per litre, compared to N650-N690 sold last week.

IPMAN says there may be a further hike in the price. It explained that the reliance on private depots will keep the price of PMS fluctuating.