NNPC

An oil and gas expert, Emmanuel Iheanacho, has blamed the persistent scarcity of petrol on monopoly of the product by the Nigerian National Petroleum Corporation, NNPC.

Iheanacho told newsmen in Lagos today, that the inability of NNPC to create a window for private importers to import petrol, also contributed to the scarcity.

According to him, the current shortage in fuel importation gap was caused by the landing cost margin of one hundred and seventy-one naira per litre and the selling cost pegged at one hundred and forty-five naira per litre.

Iheanacho said that this was not realistic for marketers to import and sell at that rate, adding that the marketers’ huge debts of over eight hundred billion naira, had also contributed to the inability of marketers to import petrol.

He said that most independent marketers had closed their companies due to inability to pay their workers and urged the Federal Government to settle all the outstanding debts owed marketers since 2015.

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