
Many filling stations were shut and this led to queues by motorists in the few outlets that dispensed Premium Motor Spirit, popularly called petrol, in Abuja, neighbouring states, as well as in parts of Lagos.
It was learnt that marketers of PMS were still unsure about moves to halt petrol subsidy, considering the fact that the government had projected in 2021 that it would stop the subsidy regime in February this year.
The National President, NARTO, Yusuf Othman, told journalists in Abuja that “our people have parked their trucks and more people are going to park (theirs).”
The National President, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, also stated that: “I’ve explained to you that DPOs are studying the situation around subsidy, since the government has been making various statements on this matter and this has its way of affecting the market,” he told news correspondent.
“They (government) said they want to fully deregulate. That statement and similar ones which some ministers made that by 2022 we are going to start full deregulation, made some PDOs decide to hoard or withhold their products.
“They (PDOs) are doing this to be able to match up with the cost of petrol when it rises above N300/litre upon full deregulation. Now, this became a bottleneck in terms of the chain of demand and supply.
“So people who were taking petroleum products out of Lagos from the PDOs stopped a little bit to be able to look at the market value and their cost of logistics.”
Punch








