There are indications that with a total of 313,000 metric tons of premium motor spirit (PMS) popularly known as fuel, to be discharged at the various jetties in Lagos, imminent fears of increase of pump price of fuel or scarcity of the product may simply be storm in a tea cup.
Figures from the Shipping Position of the Nigerian Ports Authority (NPA) for the week shows that in addition to three vessels laden with 101,000MT of PMS out of a total of 26 vessels expected to arrive the various jetties, seven tanker vessels are already awaiting berth at the jetties with a total of 212,805MT of fuel.
Former group managing director of the Nigerian National Petroleum Corporation (NNPC) and some importers of the product were recently reported to have raised the alarm that fuel pump price could hit N151.87 being the total landing cost of the product, claiming that the product would no longer be sustainable on current pump price of N145 per litre.
The report had ignited fears of increase in fuel price and possible scarcity of the product, prompting the Nigeria Labour Congress (NLC) to warn the Federal Government against nursing any intention to raise fuel price.
However, the NPA shipping data shows generous importation of fuel, indicating steady supply for several weeks to come.
The shipping data also shows that out of the 26 vessels expected, eight are laden with containers and are expected to call at West Africa’s largest container terminal, APM Terminals in Apapa Port.
Other products coming into the country in the next one week include bulk wheat laden in four of the vessels and measuring a total of 157,000MT and another four vessels carrying 31,400MT of base oil.
Two ships are laden with 6,000MT of bulk gas, while one vessel each are laden with 46,630MT of bulk coal, 46,500MT of bulk sugar and 48,500bulk gypsum.
Also, the aviation fuel scarcity rearing its head for the umpteenth time since January will have to cease, as one vessel carrying 10,900MT of JET A1 awaits berth at the New Oil Jetty (NOJ).