New reports indicate that the current fuel scarcity will continue till February 2016

Indications have emerged that the ongoing
scarcity of petroleum products across the
country is one that would linger until February
next year. This is as petroleum marketers are
reported to have suspended fresh importation
of petroleum products despite receiving N413
billion in subsidy claims from the government.
Some marketers who took Daily Sun into
confidence on the vexed issue specifically noted
that the alleged plan by the Federal Government
to remove subsidy on petrol next year and com­
mence full deregulation by January 1, is already
unsettling them.
Disclosing that they are in full support of the
deregulation of the downstream sector, the
marketers lamented that the secrecy
surrounding its implementation and take-off
date is already causing uncertainty within the
sector.
According to an importer, “Marketers are not
against deregulation. But deregulation must be
planned for. It must not be a hasty decision. We
are entities that invest a lot in importation of
petroleum products. If a decision that is to
affect us must be taken, then, we must be taken
into consideration. For now, uncertainty
pervades the sector.”
A source said “Nigerians are not considering the
vagaries involved in deregulation. There are
speculations that with deregulation, a litre of
petrol would sell for N97, which is a possibility
on one hand. But considering the current price
of crude oil which sells for about $38 per
barrel, what if this price slides further in the
weeks to come and the permutation declines to
less than N87 for a litre, who bears the loss?”
The marketer maintained that all these
certainties surrounding the downstream sector
have further dealt a debilitating blow on the
current fuel scarcity.