Oil marketers say scarcity will end with forex assistance

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The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Wednesday said that NNPC/CBN assistance in sourcing foreign exchange for oil marketers would solve the lingering fuel scarcity.

The South-West Chairman of the union, Alhaji Tokunbo Korodo, stated this in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that NNPC as sole importer of petrol could not distribute the product nationwide.

According to Korodo, most oil marketers cannot import petrol into the country because they could not access foreign exchange.

He said that most oil depots in the country depended on what NNPC pumped into their depots for distribution to tanker drivers.
Korodo said that this system had led to concentration of petroleum tankers in private depots, adding that this had resulted to gridlocks.

According to him, the gridlock at the depots results in the drivers spending close to 10 days before getting the product.

“The only solution to the present scarcity of fuel is for the CBN to assist the oil marketers in accessing forex to commence importation of petrol.

“NNPC, which at present, is the sole importer cannot distribute nationwide but private depots through their depots can do it better.

“Getting the Forex for oil marketers will go a long way to maintain steady supply,’’ he said.
Korodo said that the nation would need regular supply of petrol to filling stations to eliminate the present fuel scarcity.

He urged the NNPC to urgently source for foreign exchange for the oil marketers so that they could commerce steady importation of petrol.



1 Comment
  • emmanuel kalu

    of course, marketers want more access to forex. everyone want more access to the limited forex reserves. how about this fools invest in refineries even if It is modular refineries. The of fuel scarcity can be solved in the short term by NNPC increasing it importation and installed an effective and efficient distribute process. In the long term, we need to have more refineries in the country and deregulate the market.

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