Nigeria’s recent petrol scarcity has reignited finger-pointing, with the confederation of All Progressives Congress (APC) support groups accusing petroleum marketers of sabotaging the government’s efforts. The crux of the argument lies in the recently removed fuel subsidy by President Bola Tinubu.
The APC support groups allege that marketers are deliberately hoarding petrol to maximize profits due to the subsidy removal. They point to historical instances of scarcity, citing the pre-2015 era under President Goodluck Jonathan as an example of “artificial scarcity” created during peak seasons.
In contrast, they credit the administration of Muhammadu Buhari (2015-2023) with addressing scarcity through effective management by the Nigerian National Petroleum Corporation (NNPC) under Mele Kyari’s leadership. They imply that the presence of fuel subsidies during that period incentivized marketers to maintain a steady supply.
The group’s spokesperson highlights the change in tactics since the subsidy removal, suggesting that marketers are now resorting to hoarding to inflate prices. They urge authorities to identify and penalize those responsible for this “manufactured fuel scarcity.”
Adding another layer to the controversy, the groups question the operations of the Dangote refinery, Africa’s largest oil refinery. While the refinery produces diesel, kerosene, and other products, it conspicuously does not produce the most commonly used fuel, Premium Motor Spirit (PMS), also known as petrol. This, they argue, undermines the potential benefits Nigerians could derive from the domestic refining giant.
The APC support groups’ stance sheds light on the complex web of factors influencing fuel availability and pricing in Nigeria. Their accusations raise questions about potential market manipulation tactics employed by petrol marketers in response to the subsidy removal policy. The spotlight also falls on the capability of domestic refineries to meet the country’s fuel demands.
