N1,300/Litre: New Reality for Petrol in Nigeria

Petrol price soars to N1,300/Litre...

Fuel shortages and long queues hit Nigeria as depot issues persist, with black marketers exploiting the situation amid NNPCL's efforts to resolve the crisis.

Fuel shortages and long queues hit Nigeria as depot issues persist, with black marketers exploiting the situation amid NNPCL's efforts to resolve the crisis.

A severe fuel shortage has hit several states, including Lagos, Ogun, Abuja, and Niger, as many petrol depots have run dry. This has resulted in long queues at fuel stations, causing disruptions to daily life.

Exploiting the situation, black marketers are selling petrol at exorbitant prices, ranging from N1,300 to N1,500 per litre in some areas of Lagos and Ogun. Meanwhile, fuel stations in Abuja and Lagos have seen persistent long queues since Friday, July 26, as motorists struggle to access fuel.

According to the Nigerian National Petroleum Company Limited (NNPCL), the fuel shortages and long queues experienced on Saturday, July 27, were caused by logistical challenges with unloading fuel from several vessels, leading to delays in replenishing supplies.

“The NNPCL wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is as a result of a hitch in the discharge operations of a couple of vessels,” the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said.

The Nigerian National Petroleum Company Limited (NNPCL) stated that it was working tirelessly with all stakeholders to resolve the fuel supply issues and restore normal operations. However, despite these efforts, the situation worsened on Saturday, July 27, with long queues reported at numerous fuel stations in major cities nationwide.

A depot operator, speaking on condition of anonymity, revealed that the fuel shortage had reached a critical level, with almost all depots empty by Sunday, July 28, after the limited available stock was distributed the previous day, exacerbating the crisis.