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Petrol scarcity worsens as more FCT stations run out of stock
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By Obas Esiedesa
DESPITE assurances by the Nigerian National Petroleum Corporation, NNPC that it has enough petrol in stock and that the ex-depot price will not increase in the month of March, more filling stations in Abuja shut their gates with long queues at the few stations that were opened.
The queues which began appearing over the weekend as motorists prepared for petrol price increase this week, worsened on Monday with motorists waiting for hours before they could purchase the product.
Most filling stations monitored in the FCT had long queues with most selling at N167 although NNPC stations continued selling at N162 per litre.
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A Coalition of Nigerian Civil Society Organizations for Petroleum and Energy Security (CONCSOPES) on Saturday sought the sustenance of deregulation of the price of the Premium Motor Spirit (PMS).
Speaking in a press conference in Abuja, the convener, Mr. Timothy Ademola, noted that a reversal of the deregulation that started in March 2020 will lead to scarcity of the product.
Besides, he said it will lead the Nigerian National Petroleum Corporation (NNPC) to negative financial records.
According to him, “With the agitation of labour for the roll back of deregulation, NNPC will inadvertently have to absorb the cost of the price differential between landing cost and pump price.
Civil society groups on Saturday pushed for complete deregulation of the downstream sector of the petroleum industry that allows markets forces to determine the pump price of petrol and other petroleum products in the country.