Fuel scarcity worsens, as oil marketers suspend importation

The recurrent fuel scarcity being witnessed in many parts of the country, particularly in Lagos and Abuja, continued yesterday, showing no signs of easing up, while respite seems not in sight for motorists and residents.

This was even as oil marketers disclosed that they have suspended the importation of Premium Motor Spirit, PMS, into the country due to the failure of the Federal Government to pay them their claims.

A top source in the depot and Petroleum Products Marketers Association, DAPPMA, told Vanguard that majority of the oil marketers are yet to be paid by the Federal Government, making it impossible for them to secure fresh funds from the banks to finance fuel import.

Furthermore, with the worsening scarcity, majority of the petrol stations now engage in sharp practices. Specifically, most of the petrol stations in a bid to make huge profits, sell at between N120 and N140 per litre, while others prefer to sell to black marketers. The shady dealings, in most cases, were consummated in the night in a bid to escape sanctions from the authorities.

In Abuja, petrol stations sell to the black marketers at between N120 and N140 per litre, with the black marketers reselling same to motorists at between N160 to N250 per litre.