Information from the management and marketers of the Nigeria crude oil production and importation indicated that the ongoing war between Russia and Ukraine will make Nigerians to suffer more from the already three weeks prolong scarcity of Premium Motor Spirit, PMS otherwise known as Petrol due to ban and other sanctions against Russia and the possible attack on the Mediterranean sea
News report from PUNCH Newspaper this morning also indicated that more vessels avoided and refused to sail through the Mediterranean seas to avert possible attack and obey sanctions ordered against Russia.
“The ongoing war between Russia and
Ukraine may further prolong the over
three-week scarcity of Premium Motor
Spirit, popularly called petrol, in Nigeria,
as the bulk of the refined products coming
into the country from the warring region
and its adjoining areas are likely to face
“It was also gathered on Sunday that
traders who supply Nigeria with refined
petroleum products might pause a little
due to the deficit in the supply of crude
oil cargoes from the Nigerian National
Petroleum Company Limited.
“NNPC brings refined petrol into Nigeria
using contractors or traders through its
Direct Sale Direct Purchase scheme.
“Under the scheme, the oil company
provides crude oil to its trading partners,
who in turn supply the NNPC with refined
products worth the volume of crude
received from the national oil company”, the PUNCH Newspaper news report reads.
It would be recalled for the past three weeks, Nigerians have been groaning in pain over scarcity of the Premium Motor Spirit resulting to long queues of vehicles at Fuel Stations across the country.
The scarcity of fuel have also hiked cost of food stuffs and other items most especially the cost of transportation which have increased abnormally with more than 200 percent.
There are indications that fuel stations may start hoarding of fuel and commercial drivers may increase the of transportation higher.