The Nigerian Government says the fixed pump price of Premium Motor Spirit, PMS, otherwise called petrol remains N165 Naira per litre as stipulated in the petroleum product pricing template.
This was made known by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian National Petroleum Company Ltd., and the Pipelines and Product Marketing Company after visiting jetties in Apapa, Lagos, South West Nigeria on Tuesday.
The depots visited by the top officials of the agencies were NIPCO Depot and TotalEnergies Depot.
The Independent Petroleum Marketers Association of Nigeria, IPMAN, had on Monday advised its members to adjust the pump price of PMS to a minimum of N180 per litre.
According to the Marketers, “the move was necessitated by the increment in the ex-depot price of PMS by some private depots where they were buying the product from”, it said.
However, the Executive Director, Distribution Systems, Storage and Retail Infrastructure, NMDPRA, Ugbugo Ukoha, maintained that petrol was a regulated product and urged marketers to comply with the pricing template.
Mr Ukoha said the conflict between Russia and Ukraine had led to an increment in the cost of Automotive Gas Oil (diesel), which was a critical product used in transporting petroleum products from the depots to the retail outlets.
He said: “So, when we observed that this poses a big challenge in the movement of other products, we made the representation to the Minister of State for Petroleum and Mr President graciously approved that the freight rate for trucks be increased.
There’s a N10 addition, which we will apply to the different routes to enable trucks to move to docks easily with less burden.
With these kinds of efforts from government, we can only continue to appeal to operators within this industry to play by the rules, he said.
Mr Ukoha added that the focus of the stakeholders in the next few days would be to close the supply gaps and resolve the ongoing scarcity of petrol as soon as possible.
Also, Group Executive Director, Downstream, NNPC Ltd., Adetunji Adeyemi said the purpose of the visit to the depots was to get first-hand information on the challenges responsible for the current scarcity.
Mr Adeyemi said despite the challenges globally in terms of the supply chain, NNPC had continued to provide petroleum products, specifically PMS to Nigerians.
“Today we have about 2 billion litres of PMS in-country, which is about 34 days sufficiency. So, there is sufficient petrol in the country.
We are working with the entire stakeholders and players in the downstream sector to ensure that this product gets to the distribution channels and also the stations.
We want Nigerians to continue to enjoy free flow of petroleum products,” he said.
Managing Director, PPMC, Isiyaku Abdullahi also added that the company had been supporting transporters and marketers with diesel in form of palliative to ensure the smooth distribution of PMS and ameliorate the suffering of Nigerians.
Mr Abdullahi said three vessels carrying about 60 metric tons of PMS were currently discharging at the Apapa jetty, which would be further transported to Lagos and other parts of the country to restore normalcy.
On their parts, Managing Director, NIPCO Suresh Kumar and Site Manager, TotalEnergies, Ernest Umunna assured Nigerians of product availability at their depots.
They also promised to carry out 24-hour trucking operations to ensure that the scarcity situation in Lagos and Abuja was resolved within the next few days.