By Mitchelle Uzorka
16 February 2022 | 4:04am
Triggered by the shortage of Premium Motor Spirit (PMS), the cost of transportation, a key driver of inflation, has doubled or tripled in different cities.
Efforts to control this shortages have failed leading to endless queues at many gas stations in Lagos, Abuja, Port Harcourt and other cities. The crisis has worsened gridlocks in the metropolis with thousands of commuters stranded at bus stops.
The January Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS), points to a slight moderation in the headline inflation, from 15.63 per cent in December to 15.6 per cent.
Group Executive Director, NNPC Downstream, Adeyemi Adetunji, in a briefing in Abuja said 2.3 billion litres of additional PMS is being imported into the country to complement the existing one billion litres supply, as part of measures to address the scarcity.
In a move to accelerate PMS distribution across the country, Adetunji said NNPC has commenced 24-hour operations at its depots and retail outlets, while the Major Oil Marketers Association of Nigeria (MOMAN), Depot Owners and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have commenced 24-hour loading and dispensing activities in some of their designated outlets.