IPMAN also revealed it is challenging to source for the product because most refineries in Europe are undergoing turnaround maintenance
By Kehinde Okeowo
The body representing oil marketers in Nigeria, the Independent Petroleum Marketers Association of Nigeria (IPMAN), has explained the reason for the current scarcity of Premium Motor Spirit (PMS), popularly called petrol, saying the situation may continue for two more weeks.
This was revealed on Sunday by the Public Relations Officer of IPMAN, Chinedu Ukadike, while reacting to the lingering scarcity of the product as it spreads to many states.
TheNiche had earlier reported that fuel queues have resurfaced in many cities, including the Federal Capital Territory, FCT, Abuja and Lagos State.
Speaking to Vanguard, Ukadike confirmed the product is currently not available in the country, saying it is a challenge sourcing it because most refineries in Europe are undergoing turnaround maintenance.
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Addressing the scarcity of the product, he said: “Once there is a breach in the international supply chain, it will have an impact on domestic supply because we depend on imports.
“I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult.
“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving.
“Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it.”
Ukadike in addition to this, blamed the acute scarcity of the product on importation bottlenecks and the pace at which the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), renews marketers’ licence.