The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) asserts that there is no justification for the nationwide shortage and price increase of premium motor spirit (PMS).<\/p>\n
In a statement released on Monday, PENGASSAN stated that statistics made accessible to the union indicated that the government has more than 30 days’ worth of PMS on hand.<\/p>\n
Festus Osifo, the organization’s president, and Lumumba Okugbawa, its secretary-general, signed the statement jointly.<\/p>\n
The association lamented the hardship Nigerians were experiencing as a result of the shortage and price increase.<\/p>\n
The statement states, “We recognize that the parameters imputed into the previous Petroleum Products Pricing Regulatory Agency and now Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) template have changed.”<\/p>\n
This is due to economic factors such as exchange rate fluctuations, vessel rental fees, and AGO costs, among others.<\/p>\n
“However, there is no acceptable explanation for gasoline’s exorbitant price, which imposes further hardships on the general populace.”<\/p>\n
PENGASSAN encouraged the administration of NMDPRA to compel all distributors and retailers to sell the items at the permitted price.<\/p>\n
It also demanded that the agency promptly mobilize all of its personnel around the nation to oversee compliance.<\/p>\n
As a deterrence, PENGASSAN requested that the authority withdraw the licenses of non-compliant marketers.<\/p>\n
“Should this cooperation go undetected, we would not hesitate to work with other stakeholders to ensure that Nigerians are not victimized further,” the statement read.<\/p>\n
PENGASSAN’s criticism coincides with an increase in the price of gasoline at gas stations and a three-month-long gasoline shortage.<\/p>\n
According to the NMDPRA, the scarcity is exacerbated by cross-border smuggling, errant traders, and current road construction.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) asserts that there is no justification for the nationwide shortage and price increase of premium motor spirit (PMS). In a statement released on Monday, PENGASSAN stated that statistics made accessible to the union indicated that the government has more than 30 days’ worth of […]<\/p>\n","protected":false},"author":3,"featured_media":676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[37,35],"tags":[112],"class_list":["post-675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","tag-fuel-scarcity"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/675"}],"collection":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/comments?post=675"}],"version-history":[{"count":1,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/675\/revisions"}],"predecessor-version":[{"id":677,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/posts\/675\/revisions\/677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media\/676"}],"wp:attachment":[{"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/media?parent=675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/categories?post=675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shakamomodu.com\/index.php\/wp-json\/wp\/v2\/tags?post=675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}