As nationwide protest entered the second week in Nigeria, fuel filling stations have continued to be under lock and key while commuters stranded, causing queues for Premium Motor Spirit, PMS popularly called petrol, in many cities across the country. Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, IPMAN, which controls about 80 per cent of filling stations across the country, have yesterday disclosed that the decision to close shop was because of the ongoing protests and the fear of unknown.
The marketers have cited violence as the main reason where they have to shut down businesses across the
countries especially in cities where violence were recorded.
The nationwide protest commenced on 1st August, 2024 and is expected to last as long as 10th August as the organisers set before streets might be expected to be clear making marketers to be apprehensive.
Responding to why the fuel queues have refused to disappear despite fuel availability, the National Publicity Secretary, Chief Ukadike Chinedu, said, “The protest is still ongoing, so filling stations and trucks are not functioning optimally. This is because of the fear of attacks on our stations by protesters.
Chinedu explained, “During the ENDSARS protest, the businesses of oil marketers were attacked and destroyed and the government did not pay any compensation for it. Trucks that were carrying petrol and diesel were burnt in the Warri, Enugu, Sapele, and some other axes, and the government did not pay any compensation.
“So we are being very careful now. I also told you earlier that the security agencies had advised us not to attract protesters to our stations when these stations are opened. We thought the protests wouldn’t last and we asked our people to go and work, but unfortunately, with the way things are moving, we have to wait till the end of the protest.
“That is the reason why you see many stations are still closed, particularly in locations where the protests were violent. So we urge the protesters to calm down, they have made their mark and the government now understands the plights of the Nigerian people better” he added.
On his side, IPMAN publicity secretary stated that another reason is that marketers were interested in seeing a reduction in the pump prices of petrol and diesel before they go for another order.
“The high prices of these commodities have caused their consumption to drop. People now have alternative sources and have reduced the purchase of these fuels, making our turn-around time drag and reducing profit margins,” he stated.
Also contributing, the National Operations Controller of IPMAN, Mustapha Zarma, said marketers were afraid, but promised that the situation would stabilise next week after the protests must have been over.
“Everybody is afraid to put their trucks on the roads now because of the protests. Nobody wants to take chances. But now that the situation is improving gradually, we have dispatched some trucks to go and bring products from the coastal depots to other parts of the country.
“However, the fuel supply situation won’t clear immediately. It should stabilise by next week. But I must state that this is dependent on the protest because no one can predict it. We also urge the protesters to suspend the exercise because we won’t gain anything by heating the polity.”
In a twist, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, claimled that the federal government currently spends $600m on fuel importation every month despite debunking the claim of subsidy payment.
Edun claimed that the high import bill was due to neighbouring countries, up to Central Africa, benefiting from the country’s fuel imports.
The minister made those claims during an interview on AIT’s Moneyline programme which was posted on its Youtube channel on Wednesday 7th August, 2024.
According to him the situation was the reason the President removed the fuel subsidy, as the country does not know the exact amount of fuel consumed internally.
Meanwhile, the National Bureau of Statistics revealed that Nigeria’s petrol import were reduced to an average of one billion litres monthly after President Bola Tinubu removed the fuel subsidy on May 29 last year.
