The Nigerian National Petroleum Corporation’s Direct Sale-Direct Purchase Agreements (DSDP) programme has been blamed for the current fuel scarcity in Nigeria.
A statement by the Executive Secretary of the Depot and Petroleum Product Marketing Association (DAPPMA), Olufemi A. Adewale, said “”we understand that NNPC meets this demand largely through its DSDP framework. However, due to price challenges on the DSDP platform, some participants in the scheme failed to meet their supply quota of refined petroleum product, especially PMS, to NNPC. This is the main reason for this scarcity.”
“We, Petroleum Products Marketers do empathize with all Nigerians who are going through difficulties at this time, spending hours on fuel queues because of the current fuel scarcity due to no fault of yours.”
The statement recalled that DAPPMA members used to import about 65 percent of the nation’s total fuel consumption, whereas the Major Oil Marketers Association of Nigeria (MOMAN) used to import about 15 percent and PPMC/NNPC used to import the balance of 20 percent, but that this scenario changed drastically due to several challenges faced by marketers.
“Sadly, some people have blamed marketers for hoarding fuel unfortunately this is so far from the truth. Hoarding fuel is regarded as economic sabotage and we assure all Nigerians that our members are not involved in such illicit acts.
“While all kinds of allegations have been made in the media, it behooves on us to set the records straight, as Nigerians first, and as responsible business men and women who employ Nigerians.”
DAPPMA said that as it stands today, NNPC has been the sole importer of PMS into the country since October 2017 due to some reasons, including that fact Nigeria presently runs a fixed price regime of N 145 per litre for PMS or petrol without any recourse to subsidy claims.
“We also have no control on the international price of crude.” [myad]
