The lingering fuel scarcity in the country is expected to last till next year, a report of the House of Representatives Committee on Petroleum Resources (Downstream), has indicated.
The report listed outstanding debts of over N141billion owed oil marketings as one of the reason for fuel scarcity in the country.
The report, which blamed the Mnister of Finance, Dr Okonjo Ngozi-Iweala and the Petroleum Products Pricing and Regulatory Agency (PPPRA) for the scarcity, said the debts have discouraged petroleum marketers from further importion, given that banks are no more willing to extend further credit to them.
The report listed outstanding debts of over N141billion owed oil marketings as one of the reason for fuel scarcity in the country.
The report, which blamed the Mnister of Finance, Dr Okonjo Ngozi-Iweala and the Petroleum Products Pricing and Regulatory Agency (PPPRA) for the scarcity, said the debts have discouraged petroleum marketers from further importion, given that banks are no more willing to extend further credit to them.
These disclosures are contained in the report of the House of Representatives Committee on Petroleum Resources (Downstream) on the re-occurrence of long queues in filling stations across the country.
It said Nigerians should be prepared for an extended scarcity of Premium Motor Spirit (PMS) as commercial banks are no longer willing to give credit facilities to petroleum products’ marketers.
In addition, the Committee said System 2B, which distributes about 70 per cent of petroleum products from Lagos, Mosimi, Ejigbo, Ibadan, Ore and Ilorin has collapsed, and has affected the petroleum product distribution system.
The report was presented to the House yesterday by the Chairman of the Committee, Dakuku Peterside.
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