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Refinery, Solution To Petrol Scarcity – MOMAN

Kazeem Badmus Major Oil Marketers Association of Nigeria (MOMAN) has said the only solution to the incessant scarcity and arbitrary increment in the price of Premium Motor Spirit, popularly called petrol, is for the country to have functioning refineries. The Chairman of the association in the State of Osun, Alhaji Sulaiman Afolabi, made this known…”
Yusuf
November 11, 2022 11:42 am

Kazeem Badmus

Major Oil Marketers Association of Nigeria (MOMAN) has said the only solution to the incessant scarcity and arbitrary increment in the price of Premium Motor Spirit, popularly called petrol, is for the country to have functioning refineries.

The Chairman of the association in the State of Osun, Alhaji Sulaiman Afolabi, made this known in Osogbo on Wednesday while speaking on the ongoing fuel scarcity and increase in petrol price.

According to Afolabi, Nigeria is a consuming nation and the exchange rate will determine the price at which fuel will be sold.

OSUN DEFENDER noted that most of the filling stations in Osogbo, Ife, Ilesa, Ikirun and Iwo are selling between N200 and N210.

Only few independent filling stations were selling at the rate of N180 and there were always long queues whenever those stations are dispensing fuel.

Afolabi noted that it is no longer possible to sell fuel at the normal price due to the fall in the value of naira, adding that most of his members rely on the black market to get dollars.

He said: “It is very pathetic and saddening that this country find itself in the present situation we are. The situation where we find ourselves unfortunately is a man-made problem.

“When dollar was exchanged for N400, problem of fuel scarcity was not rampant. Now, dollar is being exchanged for N800, the product we are selling is an imported product. This is simple mathematics.

“If you are changing dollar at that rate and the government is still saying you should sell the product at the same price you are selling when you are exchanging dollar at 400 naira, how can that be possible? This is the problem Nigerians are facing.

“Everybody should know that importing the product at this period when the naira has been bastardised will cost a lot. Nigeria is a consuming nation, we only import and everything imported will definitely be accompanied by skyrocketing prices.

“If the government can be courageous enough to build our own refineries, I think the problem will be solved. I still find it difficult that the Nigeria government can’t build a refinery”.

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