Feb. 15, 2022

The Major Oil Marketers Association of Nigeria (MOMAN) has received two vessels of Premium Motor Spirit (PMS) as scarcity of the product continues to persist in Lagos and other parts of the country.

Mr. Clement Isong, Executive Secretary, MOMAN, told the News Agency of Nigeria (NAN) on Tuesday in Lagos that the vessels were received from the Nigerian National Petroleum Company Ltd.

Isong said the recent importation of off-spec petrol into the country and the subsequent directive to withdraw the affected products from the market created a huge supply gap.

“We know that the withdrawal of the four vessels disrupted the supply chain leading to panic buying by Nigerians.

“We (MOMAN) members have so far received two vessels from the NNPC since our last meeting on Wednesday and we believe the NNPC and other stakeholders are working tirelessly to see how this problem can be resolved.”

Isong said it was imperative for the downstream petroleum sector to be fully deregulated with importation of PMS liberalised to ensure improved supply and stability. (NAN)