The Nigerian National Petroleum Corporation Limited assured that queues will disappear by Wednesday, despite worsening shortages and thriving black markets. NNPC stated that evacuation issues at ports were responsible for the scarcity and refuted the accusation of owing up to $6 billion to international oil traders.
Although the country’s fuel marketers have made promises, nothing much has changed with depot loading, while black marketers sold petrol for as much as N1,500 per liter. According to NNPC, this is due to distribution predicaments, adding that inciting panic buying should be avoided by motorists.
The Chief Corporate Communications Officer for the firm, Olufemi Soneye, said, “We’re putting in our best efforts to reduce fuel supply problems. By Wednesday, no more lines should form.”
Furthermore, NNPC denied claims of debt and non-payment into the federation account since January. Soneye said that transactions are made on credit, with payments being done on a first-in, first-out basis.
Many states still experience persistent fuel scarcity, with prices going beyond N1,000/liter in some places. Still, while NNPC says it is working hard to return things back to normal, operators foresee a worsening situation in Lagos.
Moreover, the organization has underscored its dedication towards transparency and accountability, inviting press inquiries for accurate information sharing and dissemination purposes.
