Increased Domestic Refinery Capacity Will End Fuel Scarcity - PETROAN's President

The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has revealed that the lack of petroleum products in Nigeria will persist until domestic refining capacity is increased.

“The reality is that until we have our local refining capacity improved, efficient and inconsistent production, we are not going to be able to say this is when this is going to end,” he said on Thursday.

According to Gillis-Harry, logistical difficulties and a lack of product availability are some of the causes of persistent gasoline shortages, particularly in Abuja, Lagos, and other regions of the nation.

He attributed the lack of premium motor spirit, often known as petrol, in Abuja and other North Central locations to the recent floods since the roads are inaccessible.

However, the president of PETROAN blamed the lack of petroleum at depots for the shortage of fuel in Lagos.

"As far as Lagos is concerned, if there is a shortage or price issue in Lagos, it is simply based on the fact that there are no products in the depots, that's the reality," he stated.

Regarding the increase in petroleum product prices, he stated, “Let me explain this to all of us, petroleum product pricing is supposed to be dynamic in the sense that if we bought from (Pipelines and Products Marketing Company Limited) PPMC depots at PPMC price, everybody is expected to sell in their retail outlets at N165.

“But if we had to buy from other depots who had bought from the PPMC and had to ship it and go through the necessary protocols of delivering it to the depots from where we have to take it, the price will be higher because the cost is dollarised, everything about petroleum products is dollarized that is just what is happening.”