KEROSENE SCARCITY: MARKETERS AVOID IMPORTATION DUE TO FOREX IRREGULARITIES
KEROSENE SCARCITY: MARKETERS AVOID IMPORTATION DUE TO FOREX IRREGULARITIES

KEROSENE SCARCITY: MARKETERS AVOID IMPORTATION DUE TO FOREX IRREGULARITIES

Amidst the high demand of Dual Purpose Kerosene (DPK) from households, particularly the aviation sector, the desertion of importation by oil marketers after the Federal Government's removal of subsidy on the product two years ago has generated to incessant scarcity of the product. The marketers maintained that certain irregularities are obstacles in accessing foreign exchange (forex) for the importation of DPK.


 

While the Nigerian National Petroleum Corporation (NNPC) is solely in charge of the importation and sourcing of kerosene, as well as selling to marketers at a deregulated ex-depot price of about N190 per litre, the decline in distribution persists with price irregularities.


 

According to Major Oil Marketers Association of Nigeria (MOMAN), apart from decline in DPK distribution, marketers are as well facing challenges in the importation other petroleum products.


 

“The full benefits of competitive importation and full price deregulation can only be felt in an environment where all importers have equal access to foreign exchange at the same competitive rates.” MOMAN explained.


 

Contributing, the Independent Petroleum Marketers Association of Nigeria (IPMAN), Depot and Petroleum Products Marketers Association (DAPMAN), and other marketers, expressed that they have suspended kerosene importation because of the outstanding subsidy arrears owed by the Government.

 

Source: THE GUARDIAN