CEM REPORT | Oil marketers have blamed the long queues at petrol station in Lagos on the inability to buy the product at depots.
The marketers under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN) said the Pipelines and Product Marketing Company (PPMC), is yet to supply petrol to the Ejigbo depot.
This is according to the Secretary of IPMAN, Lagos Satellite Depot Ejigbo, Akeem Balogun, during an interview on Friday in Lagos.
NAN reports that he said, marketers can only sell at government-regulated price of N165 per litre when and if they could buy the product from PPMC, which is a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited.
“We are still waiting for the PPMC to supply products to our depot so that we can buy at the controlled price and can also sell at N165 per litre at our retail outlets.’’
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), had earlier directed Independent Marketers in the South-West Zone to revert to the approved N165 pump price of petrol, at a recent meeting with them.
Meanwhile, according to reports, private depot owners are still selling petrol at about N162 per litre to the oil marketers as against the approved N148.17 per litre while retail fuel stations sell between N180 and N195 per litre depending on the location.