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Fuel scarcity looms
The fuel queues in filling stations are now re-emerging in Abuja and some parts of Lagos. It is not clear if this is as a result of the threat by the petroleum products marketers association of Nigeria. According to the marketers, it will be a matter of time for the queues to come back since the federal government has not kept it side of the bargain by paying their outstanding debts.
According to the spokesman of the major oil marketers association of Nigeria, Thomas Olawore, the stocks left may not last more than three days. He challenged the NNPC to mention where the stocks they say will last 20 days are located. He said its members are owed N256.2bn in subsidy arrears and that the N100bn in sovereign debts notes are yet to be received by its members.
Olawore said that their transporters are owed about N10bn. the major challenge that the marketers now have is that it does not know if the incoming government will continue with the subsidy programme. There are conflicting signals from the APC leadership which creates a situation of uncertainty which they say is not good for their investments. They say they do not want to incur cost that the incoming administration will not bear.
They are also worried that not all their members have received payment. They are yet to receive proper assurances as to how the outstanding debts will be settled. Meanwhile, the queues are growing in the major cities causing anxiety that it could be deliberate to create doubt in the ability of the incoming government.