Fuel Scarcity Won’t End Until February 2016 – Oil Marketers

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Fresh reports have emerged that the ongoing scarcity of petroleum products across the country might not end until February 2016. This is as petroleum marketers are reported to have suspended fresh importation of petroleum products despite receiving N413 billion in subsidy claims from the government.

A report by SUN Newspaper claims that fuel queues won’t disappear soon as petroleum marketers may have suspended fresh importation of petroleum products.

According to the Newspaper, the marketers suspended importation due to plans by President Muhammadu Buhari to remove fuel subsidy.

A marketer, who pleaded anonymous said, ”Marketers are not against deregulation. But deregulation must be planned for. It must not be a hasty decision. We are entities that invest a lot in importation of petroleum products. If a decision that is to affect us must be taken, then, we must be taken into consideration. For now, uncertainty pervades the sector”.

Another source said “Nigerians are not considering the vagaries involved in deregulation. There are speculations that with deregulation, a litre of petrol would sell for N97, which is a possibility on one hand. But considering the current price of crude oil which sells for about $38 per barrel, what if this price slides further in the weeks to come and the permutation declines to less than N87 for a litre, who bears the loss?”

The marketers, who maintained that all these certainties surrounding the downstream sector have further dealt a debilitating blow on the current fuel scarcity, disclosed that the scarcity could linger till February 2016



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