The perennial fuel scarcity rocking Nigeria may persist till May, Sunday Independent gathered at the weekend.
The Nigerian National Petroleum Corporation (NNPC), which was hitherto responsible for importation of 47 per cent out of the 32 million litres of fuel consumed in Nigeria daily, has single handedly been importing 100 per cent due to the withdrawal of oil marketers from the importation.
Meanwhile, oil marketers at the weekend demanded for two new conditions before they would start fuel importation.
Aside from this, a source told Sunday Independent that although some of the disagreements between the Federal Government and the marketers have been addressed, “it takes some days to book for the refined product abroad, and it takes another longer time for ships to convey these products into the country. That can take up to four, five months.”
Chairman of the Major Oil Marketers Association of Nigeria, Wale Tinubu, told journalists on the sideline of a forum convened by the NNPC at the weekend that the marketers would resume importation only after the government has addressed the foreign exchange differentials in the price template of the Petroleum Products Pricing Regulating Agency (PPPRA).
Represented by Mofe Mojo, Tinubu added that “for banks to allow us assess to their loans, we have been asked to present a guarantee and a written document from the ministry of finance will help us a lot.”
Asked whether what he meant was a promising note, Tinubu said “yes”.
But PPPRA’s executive Secretary, Abiodun Ibikunle, maintained that the agency does not have power to address these new demands.
Jan182010