Yesterday, independent marketers began lifting gasoline from the Ijegun-Egba Tankfarm in Lagos at an ex-depot price of N172 per liter.
Because the independent marketers were expected to deliver the product to motorists and other users at the price that was regulated by the government, this was one of the measures taken to address the nation’s shortage of gasoline.
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He stated, ” We would like to let everyone know that all of the Ijegun depots sell gasoline at a price that is controlled by the government, which has been a problem for Nigerians for the past few months.
“The NNPC Limited has delivered more than 150 million liters to us this month as of today. At the moment, a few ships are emptying at the jetty. We can be relied upon to serve Nigerians.
“We expect that the product will be sold at the retail end of the business in the future at prices that are affordable,” according to the statement. “The government has fixed prices for each area where Nigerians can get the product at the right pump price and in all of the filling stations across the country.”
He stated that the daily cost of hiring a daughter vessel for product discharge had increased recently, affecting operations.
Olujimi stated, The cost was between $21,000 and $24,000 per day at the beginning of 2021, and everything suddenly went up because of the Russia-Ukraine War. As a result, depot owners and other marketers had to pay $85,000 per day—roughly $850,000 for ten days—at some point.
“In some cases, we go into demurrage that might require us to pay almost $1.2 million because some of the agencies, like the Nigerian Port Authority, or NPA, and the Nigerian Maritime Administration and Safety Agency, or NIMASA, fees are charged in dollars, which culminates in a high ex-depot price.” This is because some of the agencies’ fees are charged in dollars.