Key stakeholders in the domestic fuel supply, the Pipeline and Petroleum Marketing Company (PPMC) and the Major Marketers Association of Nigeria (MOMAN) have agreed to ensure adequate fuel supply fir the Christmas and New Year season.
Whereas the PPMC is the unit of the Nigerian National Petroleum Corporation (NNPC) responsible for domestic fuel market supplies, MOMAN is the organized body of big petroleum products marketing companies in the country.
In a meeting in Lagos weekend, both parties agreed to work together to guarantee hitch-free movement of commuters in the Yuletide by providing uninterrupted supply of different petroleum products across the country.
They also agreed on measures that ensure that subsidized fuel supply to the domestic market does to leak into neighboring countries where market incentives for smuggling are high.
Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, told MOMAN members that cross border control was important to stem leakages and forestall shortages in the period.
He enjoined the association to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders, pointing out that price arbitrage, the differential between regulated price in Nigeria and the high products prices in neighboring countries, encourages smuggling.
He also urged them to take fuel deliveries from PPMC’s depots and increase the respective storage in their depots and stations to avoid stock-out as the Yuletide approaches, assuring them of sufficient fuel stock.
He implored MOMAN to take advantage of the NNPC/PPMC stock sufficiency and request for products to always wet their stations across the country
“We have 2.2 billion litres of Petrol, 1.1 billion liters on land and 1.1 billion liters on marine, 800 million litres in PPMC depots in addition to 27-day sufficiency of AGO, 98-day sufficiency of ATK and 48-day sufficiency of DPK,’’ the MD stated.
The MD stated that NNPC/PPMC has stocked-in products in the nine inland depots, including Enugu and Aba and would commence selling this December with a view to forestalling frequent shortages in the eastern part of the country.
Executive Secretary of MOMAN, Mr. Clement Isong, said the association’s members would cooperate with PPMC to ensure robust fuel supply across the country.
He encouraged PPMC management to sustain the tempo of petroleum products supply to MOMAN to ensure products availability at all times.