NNPCL Assures Fuel Scarcity Will End by May 1st, Over 1.5 Billion Litres Available

The Nigerian National Petroleum Company Limited (NNPCL) has assured Nigerians that the ongoing fuel scarcity and queues will be cleared out by May 1st, 2024. According to Olufemi Soneye, the Chief Communications Officer of NNPCL, the company currently has an availability of over 1.5 billion litres of products, which can last for at least 30 days.

Soneye explained that NNPCL experienced a three-day disruption in distribution due to logistical issues, which has since been resolved. "We had a 3-day disruption in distribution due to logistical issues, which has since been resolved," he stated. Soneye assured that the fuel queues will be cleared out between today and tomorrow.

However, Soneye also expressed concerns about opportunistic profiteering during this period of disruption. "Some people are taking advantage of the situation to maximize profits, but the product scarcity has been minimal lately," he said.

Why this matters: The fuel scarcity has caused significant hardship for Nigerians, with long queues at filling stations and increased transportation costs. The resolution of this issue will provide much-needed relief to citizens and businesses across the country.

Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), also expressed hope that the queues in Lagos and Ogun states would ease off this week, supporting the NNPCL's promise. However, Fashola mentioned that the queues in Abuja might take longer to clear due to the distance from Lagos and the bad roads.

Stranded motorists and commuters have expressed concern over the frequent fuel scarcity in the Lagos metropolis, leading to a hike in fares and long queues at the few filling stations that were selling fuel. Fashola explained the challenges faced in the supply chain process, including logistical and transportation obstacles affecting the movement of products.

In a statement, Soneye reiterated NNPCL's commitment to resolving the fuel scarcity issue. "The lines will be cleared out between today and tomorrow," he assured. With over 1.5 billion litres of fuel products available, NNPCL is confident that the situation will return to normal by May 1st, providing relief to Nigerians who have been dealing with the challenges posed by the scarcity.

Key Takeaways

• NNPCL assures fuel scarcity will end by May 1, 2024, with 1.5B liters in stock.
• NNPCL experienced a 3-day distribution disruption due to logistical issues, now resolved.
• NNPCL concerned about opportunistic profiteering during the disruption period.
• IPMAN expects Lagos and Ogun queues to ease this week, Abuja may take longer.
• NNPCL reiterates commitment to resolving fuel scarcity, lines to clear by May 1.