Amid the ongoing crisis regarding the availability of fuel across the country, the pump price of Premium Motor Spirit (PMS) now stands at approximately N625 to N630 per litre. Oil marketers continue to voice concerns about the mass shutdown of filling stations and the inability to transport petroleum tankers due to the skyrocketing costs associated with importation, lifting, transportation, and distribution of petroleum products. Due to a lack of foreign exchange, marketers are struggling to import petroleum products, compounded by their inability to access products from the Nigerian National Petroleum Company Limited (NNPCL), leading to the current scarcity. Investigations reveal that most filling stations within the Federal Capital Territory (FCT) are either not dispensing products or are selling them in the N625-N630 per litre range. Commenting on the situation, Chief Chinedu Ukadike, the Spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), commended the government’s decision to maintain the current PMS price, considering the various crises afflicting the sector.

Source: Nigerian Tribune October 22, 2023 20:51 UTC