Why There Is Fuel Scarcity In Lagos And Some Other States

 


Long queues have returned to Lagos fuel stations and especially the NNPC and some other stations still selling at ₦165 per litre. The long queues being experience has left commuters confused and left many with the only option of trekking.


Many fuel stations are currently not open for business in Lagos. When our correspondents approach one of the petrol station, they lament on their inability to do business in such a difficult environment. Pointing at high cost of petrol landing at depot and high cost of diesel as their main concern. They went ahead to lament that selling petrol at ₦165 is not longer profitable and want upwards adjustment of petrol retail price.


Recall that the price of diesel price of diesel also known as AGO has increased greatly from ₦250 to over ₦750 in the last couple of months. Petrol stations spend not less than 50 litres of diesel to power their generators on a daily basis. Also petrol tankers make use of diesel to in their trucks to convey the product from depot to fuel stations. These have impacted negatively on the profit margin of petrol stations. Operating under this condition will result to loss on the part of the operators if the retail price of PMS remains ₦165 per litre.

The condition is worsen by the epileptic power supply being experience in the country.


Related Post: How to start Diesel marketing/brokerage business in Nigeria without capital


Speaking to journalists in Lagos on the issue, the chairman of Independent Petroleum Marketers of Nigeria (IPMAN), Lagos Satellite depot, Ejigbo, Mr. Akin Akinrinade stated that their members are not on strike but rather, the condition of doing business is now hostile. And that is the reason most fuel stations are shut. 


He went ahead to state that the product is not scarce, rather the worsening increase in price of AGO is a major issue. Mr. Akin stated that selling PMS at the rate of ₦165 is no longer possible for any marketer in Nigeria who wishes to remain in business. He advocated that the minimum profitable price should be ₦180 per litre.


Going forward, he asked the federal government to fix the refineries in the country to make AGO and other petroleum products to be more readily available in other to help the prices of the products.


You can recall that there is global shortage of AGO as a result of Russia - Ukraine war that is ongoing and consequent boycotting of Russian Petroleum Products and other goods by Many countries. China has been Russia's highest Diesel importers since the war rages.




You can leave us a comment!


Location: Nigeria

Comments

Post a Comment

Popular posts from this blog

Wizkid And Tiwa Savage Settles Their Differences

Image
Two of the Nigerians pop stars Wizkid and Tiwa Savage where seen together again after more than a year.  From the video making around on the internet, Star Boy singer was seen headed to Tiwa Savage backstage where they both embraced each other in Germany, signalling an end to their year long rift. Wizkid was also seen dancing as Tiwa performs on stage. According to some News source , the rift between them was cause by inability of Tiwa to congratulate Wizkid publicly on his 30th birthday in 2020. Related post: Why R Kelly was sentence to prison Prior before then, the duo have been seen in many occasions where they mingle with each other like two lover birds, sparking dating rumors. This was quite evident in some of the songs they did together such as "Ma Lol"  "Fever" and "Dis Love".
Read more

Rivers United Football Club Players Get $20,000 Each

Image
  The Executive governor of Rivers State, Nyesom Wike has gifted the players of Rivers United Football Club the sum of $20,000 (around ₦12m) for lifting the trophy and finishing top of Nigerian Professional Football League.  The governor made the promise today in the government house at event organised to receive the players, coaches and the supporters club. He thank the players, coaches and the supporters club for doing their job effectively and noted that they all did their job well. Also Read: NNPC Bow A Profit Driven Company With Over 200 million shareholders The governor further promise additional $40,000 if the club make it past the group stage of CAF champions league next season. In addition, the club will travel to Real Madrid Football Club in Spain for intensive 2 weeks pre-season training.  Recall something last  year, the governor commissioned Real Madrid Football Training Academy in the state. This is the first time, the club is lifting the trophy in th...
Read more

Camon 19 Full Spec: Tecno Unveils High Tech Smartphone

Image
  Tecno mobile recently unveiled their new Android smartphone of Camon series called Camon 19. The phone boost as a high tech smartphone with lots of smart and innovative features, bigger storage and  battery capacity, as well as higher processing speed. The design is unique with shape like that of iPhone 13 pro but with a more slimmer and beautiful design. Below are some of the specifications of the phone. Spec : Colour Availability: Polar Blue Eco Black Camera : 32MP front camera and 64MP Triple Bright back camera with flash light. Thickness : The 0.98mm Slimmest Bezel Display Size : 120Hz FHD+ High Gamut Display (6.8") Battery capacity : 5000mAh Processor : Hello G96 Octa-Core Memory : 256GB+8GB Memory Thickness : 166.79 74.55 8.58mm Sensors : Ambient light and distance sensor, G-sensor and on the screen mounted fingerprint sensor. Android version : Android 12 Connectivity : NFC, GSM, Bluetooth, 2G, 3G, 4G, 5G. USB : Type C Pack Content : 1 phone, 1 cable and one charger ...
Read more