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Nigerian Government Reportedly Summons Oil Minister Over Petroleum Scarcity, Related Difficulties

18:11, 1 May 2024

Christina Glazkova

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) reportedly said at the end of last week that the ongoing shortage of fuel in the country, which is affecting more and more states, is expected to take at least two weeks to normalize.

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During Monday's plenary session, Nigeria's House of Representatives summoned the Minister of Petroleum Resources and other relevant parties to provide an explanation for the ongoing fuel scarcity and the resulting hardships across the country, local media reported on Tuesday.

It is noteworthy that Nigeria's President Bola Tinubu himself serves as the minister of petroleum resources, while Heineken Lokpobiri holds the position of minister of state for petroleum resources (oil). The legislators didn't specify who they summoned.

The House voiced its apprehension over the ongoing fuel shortage coupled with a significant surge in the retail price of premium motor spirit at filling stations around the country, which has undoubtedly caused more hardship for the public, according to the government.

"All these economic quagmires have made the lives of average Nigerians unbearable, with a liter of fuel selling as much as N1200 [$0.85] in some states of the federation. [...] Adverse economic effect caused by subsidy removal and soaring inflation is yet to be addressed by the government, not to mention the deteriorating income of the Nigerian masses," one of the representatives, Shehu Ajilo, said, as cited by the media.

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Tuesday saw hours-long lines at gas stations in major cities in Nigeria as the country battled its most recent fuel scarcity.

Responding to the situation, Olufemi Soneye, the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited, attributed the problem to "logistics issues," adding that the company had enough supply. He was hopeful that the long queues will clear in a few days.

“The [company] wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is a result of logistics issues, and they have been resolved. It also wishes to reiterate that the prices of petroleum products are not changing. It urges Nigerians to avoid panic buying as there are sufficient products in the country,” Soneye said.

However, IPMAN Public Relations Officer Chinedu Ukadike said that the product was not accessible in the nation, explaining that obtaining the fuel had become difficult since most refineries in Europe were undergoing large overhauls.

Ukadike also blamed the extreme supply deficit on import obstacles and the Nigerian Midstream and Downstream Petroleum Regulatory Authority's poor pace of license renewals for marketers, with only 1,050 out of 15,000 receiving renewals, as he claimed.