Black marketers of Petrol on Monday surfaced in major highways in the Federal Capital Territory (FCT), Abuja after five years even when authorities denied plans to increase pump price.
The few petrol stations that had products were dispensing to motorists amid long queues.
Along the Airport road expressway, petrol stations such as NIPCO, NNPC, Conoil and Mobil had long queues, while black marketers were selling fuel a few distance from the stations.
On the Kubwa expressway, many petrol stations such as Gegu Oil, AA Rano, Shema and NNPC petrol stations had long queues with people selling fuel outside the stations.
At the Central Business District stations, Conoil and Total, sold but with long queues.
Most of the black marketers, who refused to disclose how they sourced the product, were seen along the Kubwa Expressway and Gwarinpa Estate.
Commenting on the development, Elder Chinedu Okoronkwo, the President, Independent Petroleum Marketing Association of Nigeria (IPMAN) said that the queues would disappear as its members would soon start dispensing products to motorists.
“I think Nigerians should stop panic buying; the NNPC has assured us that it will not increase the ex-depot price of PMS in March.
“Some of our members, who stopped selling for fear that they may not be able to buy product have agreed to start selling.
`I am sure that by tomorrow things will normalise because the NNPC said that there is 40 day product sufficiency in the country,’’ he said
Meanwhile, NNPC had advised motorists to stop panic buying of petrol as it has no plan to increase the ex-depot price in March.
“Contrary to speculations of imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March.
“The corporation was not contemplating any rise in the price of petrol in March in order not to jeopardise ongoing engagements with organised labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship,” Dr kennie Obateru, the spokesman said.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) has advised motorists to stop panic buying of Premium Motor Spirit (PMS) also known as petrol saying it has no plan to increase the ex-depot price in March.
NNPC disclosed in a statement by its spokesman, Dr Kennie Obateru, in Abuja.
“Contrary to speculations of imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March.
“The corporation was not contemplating any rise in the price of petrol in March in order not to jeopardize ongoing engagements with organised labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship,” he said .
Obateru also cautioned petroleum products marketers not to engage in arbitrary price increase or hoarding of petrol in order not to create artificial scarcity and unnecessary hardship for Nigerians.
He added that corporation had enough stock of petrol to keep the nation well supplied for over 40 days and urged motorists to avoid panic buying.
He further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding
