[By Abigail Philip David]
Major petroleum marketers in Nigeria are assuring the public of ample petrol supply, urging consumers to avoid panic buying amid recent concerns over fuel scarcity.
In a statement released Thursday, Clement Isong, CEO of the Major Energy Marketers Association of Nigeria (MEMAN), confirmed sufficient stocks are available in both the Dangote Refinery and the Nigerian National Petroleum Company (NNPC) Limited storage facilities. He emphasized a reliable outlook on future fuel supplies for the country.
“Responding to inquiries regarding perceived fuel shortages, MEMAN assures the public and stakeholders of substantial stocks in our tanks and our suppliers’ (including Dangote Refinery and NNPC Trading Limited), along with dependable forecasts for future supply,” the statement read.
Isong highlighted the role of deregulation in enabling marketers to plan and secure supplies well in advance, which he said mitigates risks of shortages. He also stated that MEMAN does not foresee any immediate or near-term petrol scarcity.
“The advantage of a diversified supply chain and deregulation allows marketers to plan their supply needs, adjusting to prevent shortages. MEMAN anticipates no disruptions to fuel availability in the foreseeable future,” he added.
Encouraging Nigerians to avoid panic buying, Isong assured that member companies are optimizing supply and logistics to ensure product availability and affordability.
“We urge the public not to engage in panic-buying. Supply efficiency is improving, and MEMAN members will continue to optimize supply and logistics to ensure accessibility and affordability for customers,” he concluded.
This reassurance follows long queues seen at NNPC retail stations in Lagos and Abuja on Wednesday, after the national oil company raised petrol prices on Tuesday. Prices in Abuja increased from N1,030 to N1,060 per litre, while in Lagos, the price rose from N998 to N1,025 per litre, sparking criticism from civil society groups and the public.
Despite repeated government promises to resolve the recurring fuel crises since May, solutions have yet to fully materialize. On Tuesday, Dangote Group President Aliko Dangote noted that his refinery holds over 500 million litres in reserve, inviting marketers to buy, though some reported difficulties in securing purchases.
