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Fuel queues return... as marketers hoard fuel
Ayo Olesin, Ademola Oni, Fidelis Soriwei and Yinka Oladoyinbo
Major cities across the country came alive again on Monday as traffic jam marked the first working day of the week after a three-day strike called by the Nigeria Labour Congress to protest the 19 per cent increase in the price of petrol.
The gridlock, especially on most major roads, was worsened by long vehicular queues at filling-stations.
Already, the NLC has warned that it may be compelled to resume the strike if commuters and motorists continue to suffer as a result of the scarcity, which a top official of Total Nigeria insisted was merely a knock-on effect of the protests that ended last Friday.
In Lagos, traffic was for hours at a standstill on major roads like Ikorodu Road, Western Avenue, Bank Anthony, Alfred Rewane, Creek Road, Apapa-Oshodi Expressway and Wharf Road.
While most of the filling stations in the city remained shut, the few that had fuel were dotted with the trademark yellow commercial buses and some private vehicles. Stranded commuters massed at bus stops. Those who could not find transport resorted to trekking.
A litre of petrol at most filling-stations sold for N42.90 instead of the N41.50 directed last week by the Petroleum Products Pricing Regulatory Agency and N38.50 by the Federal High Court, Abuja.
A spokesman for Total Nigeria, Mr. Segun Akpata, who claimed that the scarcity was an after-effect of the strike, said, �The reality is that when there is a day�s disruption in loading, there is bound to be two days of scarcity because of the break in the distribution chain.�
He added that normalcy would return at the filling stations on Tuesday.
Sources at the Department of Petroleum Resources, the oil industry regulator corroborated Akpata�s claim that the scarcity was not artificial.
They said the shortage was as a result of the disruption in loading, caused by the strike.
�To my mind, what is happening is that marketers did not load for nearly a week, so it will take some time to get supplies back to normal. Normally, loading stops on Friday afternoons at depots so the disruption in the loading pattern is responsible. It should clear in a few days,� one of the sources added.
Petroleum products dealers in Lagos, however, spent most of Monday waiting for fresh stocks.
Conoil�s dealer in Marina, Mrs. Adebola Alanamu, who had run out of stock, told our correspondents that she received her last supply on Saturday and had booked two truck expected to arrive later on Monday.
In Akure, the Ondo State capital, our correspondents observed long queues and fuel sold for between N44 and N50 per litre.
A civil servant, Mr. Jaye Ogundele, urged the state government to revive the task force on petroleum product to effectively regulate prices.
He said, �We know that the scarcity is artificially created to force motorists to continue to buy the product at N51 per litre, government should therefore come to the aid of motorists and ensure adherence to the legal pump price.�
The state Deputy Governor, Chief Omolade Oluwateru, had said that the government would give the marketers enough time to exhaust the stock purchased at N51 per litre.
He said that although the state would not force the marketers to sell at N38.50 per litre, the state consumer pricing committee would soon be deployed to ensure compliance with the order.
Scarcity was also reported in Owerri, Imo State, where filling stations on Okigwe Road, Aba Road and Mbaise Road sold fuel for between N52 and N55.
Some outlets owned by Total, however, sold for N49.90.
Our correspondents gathered that DPR inspectors would carry out a comprehensive monitoring of filling stations on Tuesday to ascertain allegations that dealers were hoarding fuel.
But as the effects of the scarcity worsened, NLC Mobilisation Officer, Mr. Denja Yaqub, warned that the strike might resume if the populace continued to suffer.
�On Friday we gave the government and the marketers seven days within which to comply with the court order. We still stand by that ultimatum,� Yaqub said.
Our correspondents learnt that the present shortages might also be linked to the marketers� expectations that losses incurred by the reversal of prices would be borne by the Nigerian National Petroleum Corporation.
�The scarcity is not deliberate; it is to protect our business interest. We have demanded that we get a refund of N300 million from the Petroleum and Pipelines Marketing Company, because we got our stocks, ex-depot at N38.50k and we were told to revert to N41.50k, but up till now the NNPC has not responded to that demand. If we sell, we will probably lose, so we have to get guarantees,� one marketer said.
The Punch, Tuesday June 15, 2004
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STOCK MARKET
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As at Mon., June 14, 2004
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8,265
8,250
8,235
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| Nig. Brewries |
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N71.05 |
+338k |
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| Oando |
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N108.00 |
+300k |
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| Guinness |
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N144.00 |
+150k |
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| Nestle |
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N175.01 |
-494k |
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| Cadbury |
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N74.00 |
-100k |
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| Mobil |
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N196.00 |
-100k |
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Volume: N22.224 million
Value: N409.537 million
Deals: 2,442
Index: 29,033.40
Mkt Cap: N2.09 trillion |
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