Barely 24 hours after reports indicated the possibility of partial deregulation of the downstream petroleum sector, and days the country had a breather from scarcity, long queues have resurfaced at filling stations across the country, as most of them indulged in product hoarding ahead of the deregulation. This comes as survey carried out by public opinion poll released by NOIPolls, revealed that 85 percent of Nigerians are buying the petrol above the regulated price of N86.50, per litre.
The Independent Petroleum Marketers Association of Nigeria, IPMAN, couple of days ago, had said, its members had overcome foreign exchange, Forex challenges as they have been granted Forex access to import petroleum products. Also, Major Oil Marketers, MOMAN, disclosed to have more than 10 days stock at the depots, with about four other vessels not yet discharged, averaging 85million litres of petrol.
Local reporter Vanguard gathered that buyers are again struggling to get the scarce product at whatever cost, leading to traffic logjam on major roads in the Lagos metropolis, while many of the stations visited along Apapa, Badagry Road, Ajegunle, Amukoko and Festac were shut down claiming they had no product.
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