Fuel Scarcity: NIPCO Pushes NNPC Petrol Supplies into Market

As at 24th December, 2017, fuel scarcity in different parts of Nigeria is still biting hard with transport fares skyrocketing. This is an unfortunate development during this festive period which has now become a norm in Nigeria.

The Nigerian National Petroleum Commission (NNPC) in different statements have assured Nigerians that the scarcity will be dealt with this weekend.

In light of the assurances, one of the major operator, NIPCO has stepped up distribution of the product. This is contained in a statement signed by the NNPC Group managing director, Ndu Ughamadu. The statement reads:

"Nipco Plc, a major Downstream operator which the Nigerian National Petroleum Corporation (NNPC) in a statement cited as one of the six major marketers which benefitted from NNPC cargo supplies, has confirmed the Company’s receipt of the Products from the Corporation. 

Nipco, in a release this evening by its Chief Corporate Affairs Manager, Alh. Lawal Taofeek, said 24 hour-loading of trucks had begun in earnest at the Company’s depot in Lagos. 

The Nipco’s statement said the trucks were being dispatched to all parts of the country with immediate effect. 

Nipco commended NNPC Management as well as that of its subsidiary Company, Petroleum Products Marketing Company  Limited (PPMC) for boosting petroleum products supplies, disclosing that Nigerians would soon feel the impact of NNPC intervention immediately. 

“Our terminal is already burbling with activities, with the marketers feeling a sigh of relief which the consumers would soon feel positively,” the statement said. 

For the umpteenth time, NNPC assures Nigerians to remain calm and not to engage in panic buying, as the end of the hiccup has come. 

Appropriate sanctions, by the security agencies working together with industry regulators, await any Marketers that may risk engaging in hoarding. 

The six major marketers that recently received consignments of NNPC petrol imports and are trucking them round the clock to all parts of the Country are: Total, Forte Oil, Oando Plc, MRS, 11 Plc and Nipco Plc. 

The supplies are mostly from Cargoes of PMS imported to by NNPC which are daily berthing and immediately being made to discharge their products to stem the supply hiccups. 

The imported products are also being supplemented by supplies from the local refineries. 

Earlier in the week, NNPC GMD, Dr. Maikanti Baru, had stated that the Corporation’s 1billion litres PMS cargo imports had started to arrive, saying supplies to parts of the country had been doubled to 80million litres per day since the current hiccup in the supply chain was noticed a few days back." 

Meanwhile, marketers have been blamed for sabotaging the efforts of the government. There are also rumors about a planned increment of the pump price of Petrol influenced by the oil marketers.