HomePetroleumFuel Scarcity/Hoarding in the Federal Capital Territory

Fuel Scarcity/Hoarding in the Federal Capital Territory

Today (1st of March), in Abuja, most retail petrol outlets between Kubwa, Zuba expressway, Airport road, Zuba and Giri were not selling to customers.

Recall that the Nigerian National Petroleum Corporation (NNPC) had said there were no plans to increase the price in this month of March 2021.

According to a statement issued by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, NNPC has enough stock of petrol that can supply the nation for over 40 days.

The statement reads:

“The Corporation stated that it has enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.

It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price”.

Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN), National Vice President, Alhaji Abubakar Maigandi, had some contradicting remarks to make.

He said,

“Like I told you at the weekend, the private depots are not selling petrol. Besides, the NNPC depots are not selling to us. If the corporation says it has petrol, this week is enough for it to prove availability with abundant supply.”

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