Fuel Supply Crisis: 9,000 Marketers Face License Revocation, Seek Government Intervention

As Nigeria struggles with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has appealed to the Nigerian National Petroleum Company Limited (NNPCL) to extend the deadline for license renewal to July. Additionally, IPMAN has urged the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) to release 9,000 already processed licenses to its members.

The NNPCL had set a deadline of April 15, 2024, for marketers to renew their licenses or risk closure of their customer express portals for purchasing petroleum products. IPMAN requested an extension, citing the need for marketers to reconcile their licenses and reduce panic buying, which exacerbates the current fuel scarcity.

The association stated that the NMDPRA has processed over 9,000 licenses out of 15,000 expected, and marketers are working to fast-track the processing to avoid closure. IPMAN appealed to NNPCL and NMDPRA to release the processed licenses and extend the deadline to July, easing tension and panic buying.

The NMDPRA South-West Regional Coordinator, Ayo Cardoso, confirmed receiving the appeal and stated that the authority would consider the request. Meanwhile, fuel scarcity persists, with commercial drivers keeping vigil at fuel stations and transport fares increasing due to the unavailability of fuel.

Despite government promises to address the scarcity, fuel remains unavailable, and black marketers continue to profit from the situation, selling fuel at exorbitant prices. The fuel crisis has become a significant concern, with worries that it may lead to loss of income sources for many Nigerians.