There seems to be no immediate end to biting fuel scarcity that has spread all over the country as the Major Oil Marketers Association of Nigeria (MOMAN) on Monday suspended further importation of fuel.
The marketers are demanding that the Federal Government settles the N264 billion subsidy arrears owed it before it would resume further importation of fuel.
Executive Secretary of MOMAN, Mr. Obafemi Olawore,said the association was forced to take the decision as a result of the failure of banks to grant further credit facilities to MOMAN,due to its huge debt profile.
By this development, the government may be forced to resort to its strategic reserves which may be exhausted in a few weeks if the government does not get marketers to resume importation.
As at Monday, long queues were observed in all petrol stations which had stock of fuel, while many others were out of stock.
Several roads in Lagos was in traffic gridlock as motorists lined up along the roads for a long wait for fuel in the petrol stations as the scarcity entered it’s second day on Monday.
As early as 6am, motorists had besieged the filling station in anticipation of buying fuel, while some were lucky to get,others met the gates under lock and key. The situation,however led to hike in transport fare.A ride from Abule Egba to Oshodi,which usually costs N100 has now been jerked up to N150.
Incidentally, the scarcity which hit Lagos on Saturday appears to be most intense there. Most parts of the SouthEast, some parts of South South and the North including Abuja had been under scarcity for more than two weeks.
MOMAN is responsible for the importation of about 60 percent of petroleum products consumed in the country.
The Executive Secretary said MOMAN is ready to resume importation if the Federal Government would at least for now pay it N100 billion being forex and interest rate.
The Minister of Finance,Mrs.Ngozi Okonjo-Iweala,had last week met with MOMAN members in Lagos,with a promise to commence payment of outstanding subsidy debts.
But that promise according to Olawore,was not met, hence the decision of marketers to suspend further importation.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) on it part said that it was still being owed a whopping N250 billion being cost of petroleum products imported into the country by government.
IPMAN National President, Elder Chinedu Okoronkwo, who disclosed to Daily Sun in Abuja, Monday, explained that the delay in payment of the money to marketers was responsible for the protest by his members leading to shortage in supply of fuel across the country.
He, however, stated that the crises is being resolved as government has already assured the money would be paid soon, stating that products supply would resume shortly.
“The Federal Government had promised to pay those marketers who brought fuel into the country but they have not been paid. One day ripple effect has rather caused this maximum damage but discussions are ongoing on the possibility of payment this week. Once that is done, everything will be resolved.
“People should not worry because with government’s assurance, product supply would be restored and marketers will start bringing in products.”
According to him, the protest was just a warning to government to address the shortfall in payment and it has risen to the occasion by engaging marketers. He said what Nigerians have suffered up to last weekend was the ripple effect from just a one-day stop in supply, assuring that normalcy would soon be restored.
Meanwhile, the scarcity of fuel in Abuja, the Federal Capital Territory, and the neighboring states has continued to bite harder as most motorists have parked their cars and resorted to public transport within and around the city.
Transport fares have also soared high from N100 a drop to over N300 as commuters, particularly civil servants, have been stranded at bus stops waiting for several hours to get vehicle to their offices.
Many have resorted to trekking long distance within the city to meet with their daily needs.
While black marketers continue to make brisk businesses at the expense of the people selling a litre of fuel for N200 and N250, few fuel stations with the products still sell at the official pump price of N87, with an extra charge of N100 to N500 depending on the size of the car.
Few fuel stations with the product prefer selling to customers in jerry cans as they charge them higher.
