HomeBusinessMEMAN advises against panic buying amid fuel shortages in Lagos

MEMAN advises against panic buying amid fuel shortages in Lagos

Date:

Related stories

Nigerian Newspapers: 10 Stories to Start Your Thursday Morning

Nigerian Newspapers Summary Good morning! Here is today’s summary from...

Dollar to Naira Exchange Rate: July 25, 2024

Dollar to Naira Exchange Rate news on Daily News 24 If...

Discos see revenue rise to ₦291.62bn amid energy crisis

Nigeria's electricity distribution companies (Discos) generated ₦291.62 billion in...

Nigerian Newspapers: 10 Stories to Start Your Wednesday Morning

Nigerian Newspapers Summary Good morning! Here is today’s summary from...

Nigerian Newspapers: 10 Stories to Start Your Tuesday Morning

Nigerian Newspapers Summary Good morning! Here is today’s summary from...
spot_img

The Major Energies Marketers Association of Nigeria (MEMAN) has advised Nigerians against panic buying and stockpiling fuel amidst ongoing queues at filling stations in Lagos.

In an interview with the News Agency of Nigeria (NAN), MEMAN’s Executive Secretary, Clement Isong, attributed the shortfall to adverse weather and thunderstorms disrupting ship-to-ship trans-loading, berthing at jetties, and transportation logistics.

Isong explained, “The Nigerian Meteorological Agency (NIMET) has warned against loading petrol during rainstorms and lightning due to its flammability. Any deviation from regulations poses significant danger and risks, including fatalities.”

READ ALSO: El-Rufai, Kwankwaso meeting fuels speculations of northern political coalition for 2027

He emphasized that recent storms had delayed truck loading for over 48 hours, contributing to the supply shortfall. However, with clear weather, loading and distribution have resumed. “We want to assure Nigerians that there is no scarcity, and they should not stock petrol at home,” he added.

Isong also highlighted efforts to combat smuggling, noting that illegal activities had increased consumption to 58-60 million liters per day.

He mentioned that NNPCL is purchasing petrol at international prices and selling it domestically at a lower price, reinforcing supply chain security to prevent smuggling.

A NAN correspondent reported that fuel queues have caused gridlock in parts of Lagos, with long lines observed at various NNPC, NIPCO, and other stations.

Despite the challenges, MEMAN reassured the public of ongoing measures to stabilize fuel supply and urged calm.

Subscribe

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

X whatsapp