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Matrix Energy Group Nigeria Limited

Economy

Fuel Scarcity: NNPCL, Matrix Energy Begin Massive Supply in Delta, Edo, Others


…Product Now Sell For N205/220 per litre In Warri, Effurun, Environs.

The perennial queues occasioned by the non-availability of the Premium Motor Spirit (PMS) also known as fuel in Warri, Effurun and other parts of Delta State has started phasing out following recent mass supply of the product to marketers in the State.

It was also observed that the price of PMS which was sold between N420 to N510 has now crashed and it is now being sold between N205 and N260 by marketers especially in Warri, Effurun and their environs.

It was gathered that the development followed the intervention of leading indigenous oil and gas company, Matrix Energy Group and the Nigerian National Petroleum Corporation Limited (NNPCL) which have depots in the oil city.

Some marketers had told our correspondent who monitored the supply of the product that some major marketers like Matrix Energy entered partnership with some independent marketers to ease the distribution of the product in line with the directive of the federal government.

It was further gathered that to ease the scarcity and hike in the price of PMS, the NNPC has sent five additional vessels totaling 100 million litres to Delta State.

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It was reliably learnt that the five NNPC vessels will berth in the various fuel depots in the state latest this week. The product will be distributed to the depots at Warri Refining and Petroleum Company (WRPC), Warri, Oghara and Koko.

Queues which hitherto were witnessed in most parts of Warri, Asaba, Effurun, Sapele, Ughelli and their environs have started easing out following the mass supply of the product in the areas.

Aside Delta, it was gathered supply of the product to states of the Niger Delta has drastically improve as motorists were seen spending less time to get the product at the various filling stations visited between Saturday and Sunday.

It was further learned that some major marketers that owned retail outlets including Matrix and Shafa were already dispensing a litre at the rate of N205 in Warri, Effurun and their environs.

Motorists, who commended the intervention, called on the Federal Government to stabilise the availability and pump price of the product.

They lamented that the hike in the pump price had led to an increase in the cost of transportation and foodstuffs within the state and beyond.

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An industry player, who confirmed Matrix Energy’s intervention in making the product available, stated that the company had entered into partnership with some independent marketers to ensure that the queues were out in Warri, Benin and other parts of the country in the days ahead.

He added that owing to the company’s intervention through massive supply of the product, most filling stations have started dispensing the product below N220 per litre particularly in Effurun, Warri, Udu and some other parts of Delta.

Our source added there was also an arrangement with marketers in Benin, Edo State, to supply one million litres weekly to the city to cushion the scarcity of the product in the state.

It further disclosed that the Nigerian National Petroleum Company (NNPC) Limited has sent additional four laden vessels to depot in ogarah and Warri in Delta to ameliorate the challenges being faced by residents of the region.

“The federal government has directed all depot owners in the coastal areas to focus on supplying their primary areas which is what had led to availability of the product. The government wants to see that the product is available. Effective Monday, the pump price is expected to go down to N190. If you go round, some filling stations like Matrix Energy have been selling the product at N205. But hopefully, we will see reduction continue to reflect in the pump price as availability of the more vessels increases this week”, the source assured.

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A circular by Matrix Energy company last week Thursday announcing it has commenced full distribution of the product confirmed the position of our source.

The circular obtained by our correspondent read, “This is to inform you that our PMS vessel will be berthing today and loading shall commence tomorrow God willing. We shall only allocate volumes directly to those with valid NMDPRA permits and willing to sell at regulated price.”

Meanwhile, motorists in Warri, Effurun and Udu area of Delta have commended Matrix Energy Group for easing the suffering of Nigerians by ensuring adequate distribution of the product in the areas.

They also commended the company for ensuring that the product was sold within the government regulated price, stressing that the Federal Government must double its efforts to make the product more available to the Nigerian public.


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