In response to the worsening petrol shortage across the nation, the Nigerian National Petroleum Corporation (NNPC) began unloading 240 million liters of petrol.

Five vessels transported the fuel into the country on Monday, and was distributed to five depots.

Ayo Cardoso, the South-West Regional Coordinator for the Nigerian Midstream and Downstream Petroleum Regulatory Authority, confirmed the process.

He said, “We are doing something about the fuel crisis; very soon it will be over. Vessels are discharging as I am talking to you. What we are concentrating on is to push the NNPC, which is the supplier of last resort, to make sure they wet the entire populace.

“So, we have about five vessels already discharging the product, about 240 million litres are being discharged as I am talking to you right now. We are working round the clock.

“But then, once you have a problem, it takes like one or two weeks to (normalise), but people will keep on panicking, which is not supposed to be.

“All these kinds of things disrupt the normal way of operations. But with 240 million litres coming in from five vessels discharging to five depots already today, things will get back to normal.” he added

The Nigerian National Petroleum Company Ltd. has assured citizens that the current fuel scarcity and queue issues will be resolved by Wednesday, May 1.

Mr. Olufemi Soneye, Chief Communications Officer, disclosed this in Lagos on Tuesday.

Soneye stated that the company currently holds an excess of 1.5 billion liters of products, ensuring a supply that can sustain for at least 30 days.

He said “Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations. Some folks are taking advantage of this situation to maximize profits.

“Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain. The lines will be cleared out between today and tomorrow.” he assured

Likewise, Mr. Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), voiced optimism about the easing of queues in Lagos and Ogun this week, citing the assurances of the NNPCL.

Fashola noted that queues in Abuja might persist slightly longer due to the distance from Lagos.

He said “The information available to us from the NNPCL was that there was a logistics problem, and when that happens, it will disrupt the supply chain.

“That might be a delay in the movement of ships from the mother vessel to the daughter vessel before it gets to the depot tanks.

“Before we can correct that, surely it will take some days. I think by Tuesday or Wednesday, there will be more products available for lifti¹ng by marketers. It might take time before it can ease off in Abuja, considering the distance to Lagos and the bad roads; Lagos might be calm this new week.”

According to reports on Monday, stranded motorists and commuters in Lagos expressed concern over the recurring fuel scarcity, leading to a scarcity of commercial vehicles and an increase in fares.

The report highlighted that only a handful of filling stations were operational in Lagos metropolis, resulting in long queues at most locations.

Similar conditions were observed in Abule-Egba, Abbatoir Road in Agege, Akowonjo Road, Bariga, Fola-Agoro, and the Lasu-Igando Road areas, where the few operating filling stations witnessed lengthy queues of vehicles stretching several meters.

In a dire warning, Minister of Power, Adebayo Adelabu, painted a bleak picture of Nigeria’s energy future, cautioning that failure to enact the planned increase in electricity tariffs could plunge the nation into darkness within the next three months.

Adelabu’s stark revelation unfolded during a high-stakes appearance before the Senate Committee on Power in Abuja on Monday, where scrutiny over the recent electricity tariff escalation by the Nigerian Electricity Regulatory Commission intensified.

He said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs.

“The increment will catapult us to the next level. We are also Nigerians, we are also feeling the impact. For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years.

“This is because of the infrastructure requirement for the stability of the sector. But the government cannot afford that. And so we must make this sector attractive to investors and to lenders.

“So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and the government is not paying subsidy, the investors will not come. But now that we have increased the tariff for A Band, there are interests being shown by investors. ” he added