NNPC Depots Running Dry and Will worsen Fuel Scarcity

Nigerian National Petroleum Corporation, NNPC, industry operators remain scepticism is fuelled by reports that stock of petroleum products at NNPC facilities across the country was grossly insufficient, with supply from local refineries incapable of supporting imports.

The Executive Secretary, Depot and Petroleum Products Marketers Association, DAPPMA, Olufemi Adewole, said on Saturday that all its members who own most of the products storage facilities across the country were fast running out of stock of products.


Mr Adewole offered no hope that the situation might ease in the near future as most marketers do not seem to possess the financial muscle to undertake further fuel importations.
“We are loading what we have,” Mr Adewole explained.

“But, it is one thing to load, and another thing for it to be adequate. We are loading what NNPC is giving us. As it stands now, almost all marketers have run out of stock.
“Sadly, nobody has the means to import. No marketer has received payment for products imported since August last year.”

Although the president gave approval a fortnight ago for the payment of about N413 billion as part of the subsidy arrears to marketers‎, Mr. Adewole said they were yet to receive the money.

“We learnt money has been approved, but the payment is yet to be made. Not one marketer has received a kobo. We are still waiting for the payment. If we got that, it would help us do better than we are doing at the moment,” he said.

The Petroleum Products Pricing Regulatory Agency, PPPRA, which is responsible for approving such payments, said in the wake of the reports that it was yet to get details of the approval by the president.

One of the marketers, who asked not to be named, as he was not authorised to speak on the issue, said feelers from the Pipelines and Products Marketing Company, PPMC, were that the stock of products at the depots was terribly low.

Source: Sahara Reporter