As Nigeria continues to experience soaring price of premium motor spirit (PMS) also known as petrol and its scarcity, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has projected that the situation may extend to June.
IPMAN National Public Relations Officer, Chief Ukadike Chinedu, speaking to newsmen on Wednesday gave reasons for this extension.
He said the issue of subsidy and the importation of petroleum products were the major reasons for the fuel scarcity that was causing discomfort for Nigerians.
He said, “This is why we are suffering like this and having epileptic supply of PMS. This may drag till the current administration leaves in May or till June this year.”
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In giving a second reason, Ukadike also noted that the current exchange rate was also affecting fuel imports, leading to high cost of petroleum products.
He said, “Also, we should note that most times when an administration is leaving, there is usually scarcity of products. It happened during the time of former President Goodluck Jonathan.
“This is because suppliers will be very weary of selling petroleum products so that their debts will not be carried over to the next administration. Successive governments have suffered this epileptic distribution of petroleum products during transition to a new government.
“The government is winding up, and if you are a supplier you have to be careful in terms of supplying petroleum products. Remember that when Jonathan was there, marketers who were supplying products stopped and went on strike, demanding that they must be paid their arrears.”
NatureNews recalls that the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced that the Federal Government had budgeted about N3.6tn for fuel subsidy till June 2023.
