Petrol Marketers Blame CBN For Scarcity

The scarcity of petrol across the country is growing worse by the day, as hundreds of motorists spent several hours in queues at filling stations in a bid to get the product

Some marketers of petroleum products  said that the Central Bank of Nigeria had refused to honour the Sovereign Debt Notes obtained by them from the Debt Management Office for the settlement of the N413bn subsidy arrears by the Federal Government.

The CBN’s inaction, according to the marketers, is as a result of the delay by the National Assembly to approve the payment of the N413bn subsidy debt.

However, the Nigerian National Petroleum Corporation (NNPC) has absolved itself from blame for the prolonged fuel scarcity in many parts of the country. According to the NNPC, the scarcity is not as a result of its inability to meet demand, adding that it had made products available to depots that were receiving supplies from its subsidiary, the Pipelines and Products Marketing Company (PPMC).