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The Nigerian National Petroleum Company Limited (NNPCL) has cut off independent marketers from the petrol supply chain just days after implementing a hefty price increase on the highly demanded fuel.
This drastic measure has sparked intense speculation about the corporation’s long-term strategy and its potential impact on the average Nigerian consumer.
As the fuel crisis deepened, three vessels berthed at the Apapa, Lagos jetty on Wednesday, discharging imported petrol, a development that seems at odds with the NNPC’s decision to halt sales to independent marketers.
Warri and Effurun, two metropolises in Delta State, became the epicenter of a heated protest as commercial tricycle operators, affectionately known as ‘keke’ riders, pushed back against a price hike. With their very existence threatened, the riders took a stand, flooding the streets with their vehicles and their voices, demanding justice and fairness.
A nationwide fuel scarcity crisis reached a boiling point on Wednesday, leaving commuters stranded or forced to embark on arduous treks as queues for the precious resource stretched on interminably. The situation, exacerbated by a worsening shortage, painted a grim picture of a country in crisis.
The streets were eerily quiet as commercial motorists staged a de facto boycott, with only a handful brave enough to venture out amidst the crippling fuel hike. Still reeling from the recent nationwide protests, many drivers expressed anguish and frustration over the soaring prices, which have further exacerbated the country’s economic woes.
Read also: NNPCL Boosts Energy Export With LNG Supply To Japan, China
The NNPC’s sudden decision to stop selling fuel to independent marketers has sent shockwaves through the industry. According to Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria, the move coincided with a steep price hike to N855 per liter and above at NNPC retail outlets nationwide, effective Tuesday.
Following the NNPC’s decision to raise prices, independent marketers seized the opportunity to cash in, selling fuel for exorbitant sums of up to N1,200 and N1,300 per liter in certain states. This price gouging has left many Nigerians feeling fleeced, as the cost of fuel continues to balloon.
Fashola criticized the NNPC’s lack of communication regarding the suspension of petrol sales to marketers, who had paid for the product over two months ago. This unexplained move has created confusion and frustration among marketers, who are now left to ponder the implications of this unexpected decision.
Fashola scoffed at the suggestion that independent marketers were voluntarily absent from the depot, stating, “The NNPC has brought our operations to a grinding halt. Our tickets are being ignored, and we’re left in limbo.”
