According to the Independent Petroleum Marketers Association of Nigeria, or IPMAN, it will take at least two weeks for the gasoline shortage that is currently affecting several states in the nation to return to normal.
This is despite yesterday's insistence by the Nigerian National Petroleum Company Limited (NPCL) that it has sufficient supplies of the commodity on hand.
But according to Chinedu Ukadike, IPMAN's public relations officer, the product isn't offered in the nation.
He claimed that because most refineries in Europe are undertaking turnaround maintenance, finding the product has grown somewhat difficult.
Ukadike further attributed the severe lack of supply to importation restrictions and the Nigerian Midstream and Downstream's sluggish renewal of marketers' licenses.
NMDPRA, the Petroleum Regulatory Authority.
Out of 15,000 marketers, he said that just 1,050 got their licenses renewed by NMDPRA.
"The situation is that there is no product," he stated. When there is insufficient or no supply, you will notice scarcity, and lines will form at gas stations.
"Logistics and vessel issues have been cited as the challenge by NNPCL, the exclusive provider of petroleum products in Nigeria.
Because we are dependent on imports, any disruption in the global supply chain will affect home supply. Additionally, the majority of refineries in Europe are reportedly undergoing turnaround maintenance, so obtaining petroleum products has grown more difficult.
"The CEO of NNPC Group has guaranteed us that the arrival of their vessels will result in an enhancement of the supply chain. After that is finished, things will resume as usual. This is due to the fact that it takes two to three months to recover the 30-day supply sufficiency once it is compromised.
"We anticipate that NNPC should be able to restore supply by next week or so, and that normalcy should return within another week."
In response to questions about the difficulties marketers are having renewing their licenses, he stated: "NNPC has stated that marketers who are unable to do so will not be permitted to stay on their platform, which has been inaccessible for some time. We are unable to request additional products as a result of this.
At this early stage You'll find that even if the product is delivered, there will still be scarcity during the deregulation period. As of right now, only 1,050 of the 15,000 licensed merchants on the portal have renewed their licenses, according to their data.
"NMDPRA need a great deal of renewal. It's a tough atmosphere for marketers. The NNPC gave marketers until April 15, 2024, to renew their licenses.
Therefore, we are pleading with NNPC to extend this deadline and with NMDPRA to expedite the issuance of licenses to marketers who have finished their procedures while also easing the backlog in license renewals.
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