House Committees Urge Security Agencies to Target Fuel Marketers Hoarding Petroleum Products Lawmakers have stated that the recent fuel shortage is a temporary setback caused by logistical issues and worsened by some unethical marketers hoarding fuel.
The House of Representatives Committees on Petroleum Downstream and Midstream have called on security agencies to clamp down on oil marketers undermining the sector.
During a joint briefing in Abuja on Wednesday, the chairpersons of the committees, Ikenga Ugochinyere (PDP, Imo) and Odianosen Okojie (APC, Edo), urged security agencies to take action against oil marketers engaging in fuel hoarding.
Mr. Ugochiyere, chairman of the downstream committee, explained that the committees had received briefings from various stakeholders, including NNPC Limited, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO), about the ongoing fuel shortage.
He emphasized that the shortage is a temporary issue stemming from logistical challenges, further complicated by some dishonest marketers who hoard petroleum products.
“We strongly disapprove of the actions of middlemen who exploit this temporary disruption in supply to maximize profits and generate excessive gains at the expense of the public,” said Mr. Ugochiyere. “We urge security forces to support the NNPC, NMDPRA, PETROAN, NARTO, and other key stakeholders to ensure that such acts of economic sabotage involving hoarding, arbitrary price hikes, product diversion, and smuggling are identified and addressed.”
The committees also plan to hold additional discussions with industry players to prevent future disruptions.
Meanwhile, an official from NNPC Limited indicated on Tuesday that the scarcity would end this week. However, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to close its outlets across the country due to unpaid bridging claims of over N200 billion.
The House of Representatives has also summoned the Minister of Petroleum Resources to explain the cause of the scarcity and outline strategies to prevent its recurrence.
Despite reassurances from regulators and lawmakers, many Nigerians spent the Worker’s Day holiday in long queues at petrol stations, as the scarcity continued to affect businesses and households.
