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Nigerians in Despair: Fuel Scarcity Threatens Economic Activity

Fuel scarcity has become a recurring nightmare for Nigerians, plaguing the nation’s economic landscape and leaving its citizens in despair. Despite claims by the Nigeria National Petroleum Corporation (NNPC) that all issues have been resolved, fuel scarcity persists in Lagos, Ogun State, and Abuja.

Fuel stations in Lagos are selling petrol at high prices, with long queues and black marketers selling to tired motorists for as high as N1,500 per liter. Fuel shortages in Lagos’ Agege, Ikeja, Ogba, and Ikotun regions have led to fuel stations closing, with some selling fuel at inflated prices, exacerbated by the scarcity.

Fuel scarcity in Ogun State has led to prolonged waits for motorists in areas like Ikorodu, Sango, and Mowe. In Lagos, transportation costs have surged, with motorists and okada riders doubling their fares, adding to the already existing challenges.

According to reports, IPMAN has warned that the petrol scarcity could persist for an additional two weeks due to the difficulty in sourcing the product due to European refineries’ turnaround maintenance. The Public Relations Officer, Chinedu Ukadike, stated that the supply chain will improve once vessels arrive, but said normalcy would take two to three months to restore.

  • “I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult. 
  • “NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving. 
  • “Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it”, he said. 

What is NNPC Doing About the Fuel Scarcity?

NNPC blames fuel scarcity in some regions on logistical issues, but spokesperson Olufemi Soneye claims these have been resolved and fuel availability will resume in those areas.

He also warned against panic buying of petrol as there is no shortage of fuel in the country.   

  • The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.  
  • “It also wishes to reiterate that the prices of petroleum products are not changing.  
  • “It urges Nigerians to avoid panic buying as there is a sufficiency of products in the country,” Soneye said

Source. scoutafrica.net

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