{"id":198268,"date":"2022-06-23T05:15:34","date_gmt":"2022-06-23T04:15:34","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=198268"},"modified":"2022-06-23T05:15:34","modified_gmt":"2022-06-23T04:15:34","slug":"why-nigeria-continues-to-grapple-with-fuel-scarcity-pengassan","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/06\/23\/why-nigeria-continues-to-grapple-with-fuel-scarcity-pengassan\/","title":{"rendered":"Why Nigeria continues to grapple with fuel scarcity \u2013 PENGASSAN"},"content":{"rendered":"<p>The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has disclosed why fuel scarcity, particularly in Lagos and Abuja, continues to blight the country&#8217;s economy. <\/p>\n<p>The association attributed the trend to challenges of \u2018bridging funds\u2019 between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and truck drivers who deliver the Premium Motor Spirits (PMS).<\/p>\n<p>Mr Festus Osifo, President of the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/12\/15\/pengassan-president-tests-positive-for-covid-19\/\">association<\/a> made the disclosure while speaking during an interview on Channels Television\u2019s Sunrise Daily. <\/p>\n<p>Osifo said, \u201cThe NMDPRA are the ones administering a bridging fund. At a particular time, they agreed with truck drivers that the bridging fund is going to be about N10 per litre depending on the destination you are going to all over the country.<\/p>\n<p>\u201cAs at when they agreed, the cost of diesel was about N250, so it was fashionable and the N10 was a bit okay, but today, the cost of diesel is over N700. It has tripled. So, the expectation from the tanker drivers is that since the cost has gone up, instead of paying me N10.40kobo as the case may be, you\u2019ve to multiply it by three.<\/p>\n<p>\u201cAt the end of the day, that\u2019s the first problem.\u201d<\/p>\n<p>\u201cAs of today, we\u2019ve close to 2 billion litres of PMS, so the problem is not the stock,\u201d Osifo said, explaining that while the stock is available, most of the truck drivers aren\u2019t willing to move these products \u201cbecause of the previous problem I just enumerated\u201d.<\/p>\n<p>\u201cOne of the issues again is that today, NNPC is the sole importer of PMS, so they import PMS into the country, and this PMS is brought to the high sea, so they rent some smaller vessels to bunker the PMS and take to the various tank farms or depots. So, if it is the NNPC depots and you\u2019re loading from the NNPC depots, you\u2019re going to pay about N148 as the ex-depot price. But some of the PMS are also stored in private depots and those private depots don\u2019t sell to the retailers for 148; they add some premium to it, at the end the of the day, they sell between 152, 155, 160 and 162.<\/p>\n<p>\u201cSo, if they sell at that amount, it\u2019ll now be difficult for the retailer to go and sell at the same amount.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has disclosed why fuel scarcity, particularly in Lagos and Abuja, continues to blight the country&#8217;s economy. The association attributed the trend to challenges of \u2018bridging funds\u2019 between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and truck drivers who deliver the Premium Motor [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":100958,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[457,12008,431,40533],"class_list":["post-198268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-abuja","tag-fuel-scarcity","tag-lagos","tag-pengassan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Nigeria continues to 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