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    Petrol: Roadside sellers resurface in FCT

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    Naija247news Media, New York
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Edith Ike-Eboh
    Abuja, March 1, 2021 Black marketers of Premium Motor Spirit (PMS) also known as Petrol on Monday resurfaced in major highways in the Federal Capital Territory (FCT), Abuja.

    A News Agency of Nigeria correspondent, who went round the Airport Road and the major highways in Abuja, observed that few petrol stations were dispensing to motorists amid long queues.

    Naija247news reports along the Airport road expressway, petrol stations such as NIPCO, NNPC, Conoil and Mobil had long queues, while black marketers were selling fuel a few distance from the stations.

    On the Kubwa expressway, many petrol stations such as Gegu Oil, AA Rano, Shema and NNPC petrol stations had long queues with people selling fuel outside the stations.

    At the Central Business District stations such as Conoil and Total also selling but with long queues.

    Most of the black marketers, who refused to disclose how they sourced the product, were seen along the Kubwa Expressway and Gwarinpa Estate.

    NAN also reports that they were selling 10 litres of petrol for between N5000 and N6000.

    Commenting on the development, Elder Chinedu Okoronkwo, the President, Independent Petroleum Marketing Association of Nigeria (IPMAN) told NAN that the queues would disappear as its members would soon start dispensing products to motorists.

    “I think Nigerians should stop panic buying; the NNPC has assured us that it will not increase the ex-depot price of PMS in March.

    “Some of our members, who stopped selling for fear that they may not be able to buy product have agreed to start selling.

    `I am sure that by tomorrow things will normalise because the NNPC said that there is 40 day product sufficiency in the country,’’ he said

    Meanwhile, NNPC had advised motorists to stop panic buying of petrol as it has no plan to increase the ex-depot price in March.

    “Contrary to speculations of imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March.

    “The corporation was not contemplating any rise in the price of petrol in March in order not to jeopardise ongoing engagements with organised labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship,” Dr kennie Obateru, the spokesman said.

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