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Fuel scarcity: There’s confusion in oil sector, says IPMAN

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The Independent Petroleum Marketers Association of Nigeria has said there is confusion in the oil sector in Nigeria, following the prolonged fuel scarcity that has been hitting hard on the country for months.

The Deputy National President, IPMAN, Zahra Mustapha, said this on Friday while speaking during an interview on Channels TV’s Sunrise Daily.

When asked about what was happening in the industry leading to the prolonged scarcity, Mustapha said the issue is complex, admitting that independent marketers do not also “really understand what is going on.”

He said, “The fact of the matter is that we are in a very complex situation because the burden of subsidy that the government is carrying is no more sustainable and the volume that the NNPC for now, being the sole importer of the petroleum product, PMS, has been hit hard, because of that the supply that we receive as the marketers at the loading point is being reduced by over 50 per cent.

“It doesn’t seem that they (NNPC) are bringing in more, if they are, we will be getting the volume we usually get before. Since July/August last year the volume we receive now is not up to 40 or 50 per cent of what we usually get.

“As at today with what is trending in the private depots, the volume we are getting is not enough. With the look of things in the private depots, I assume it is not enough, because if they have it they won’t hoard it.”

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