Lagos, Nigeria: In the wake of a growing petrol scarcity that is gripping Nigeria, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has forewarned that it will take at least two weeks to restore normalcy to the supply chain.
The situation has escalated to encompass more states across the country, prompting concerns among consumers and industry stakeholders alike.
Despite assurances from the Nigerian National Petroleum Company Limited (NPCL) regarding adequate stock of petrol, IPMAN’s Public Relations Officer, Chinedu Ukadike, painted a contrasting picture.
According to Ukadike, the product is distressingly scarce within the country, attributing the shortage to a myriad of factors.
One significant factor contributing to the scarcity, as cited by Ukadike, is the ongoing turnaround maintenance of refineries in Europe, which has complicated the sourcing of petroleum products.
This international dilemma has compounded the importation bottlenecks and the sluggish pace of marketers’ license renewal by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The renewal process, which affects a substantial number of marketers, has seen only a fraction—1,050 out of 15,000—having their licenses renewed by the regulatory body.
This bureaucratic hurdle exacerbates the already strained supply chain, leaving consumers grappling with prolonged queues at filling stations.
In response to the crisis, Ukadike emphasized the critical role of international supply chains, noting that any disruption can significantly impact domestic supply.
The reliance on imports further underscores the vulnerability of Nigeria’s petrol supply, particularly when faced with external challenges such as logistical issues and vessel problems.
Despite the bleak outlook, Ukadike conveyed optimism regarding the potential resolution of the crisis.
He highlighted reassurances from the NNPC Group CEO regarding the imminent improvement in the supply chain, with incoming vessels expected to alleviate the shortage.
However, he cautioned that restoring the 30-day supply sufficiency, once disrupted, could take two to three months—a sobering reality for consumers anxiously awaiting relief from the scarcity.
Looking ahead, Ukadike projected that within the next week or so, NNPC should begin to restore supply, gradually paving the way for normalization.
However, he cautioned that it may take an additional week for operations to stabilize fully, offering a glimmer of hope amidst the prevailing uncertainty.
As the nation grapples with the repercussions of the petrol scarcity, stakeholders urge swift action and concerted efforts to address the underlying challenges plaguing the petroleum industry.
Nigeria’s supply chain’s resilience will be tested as authorities work towards restoring stability and alleviating the hardships faced by consumers nationwide.
This article was created using automation and was thoroughly edited and fact-checked by one of our editorial staff members
