Last week’s fuel shortages in parts of Nigeria have intensified, causing disruptions to businesses, particularly in the commercial hub of Lagos.
According to reports from privately-owned broadcaster Channels Television, public transport services were suspended on Monday, leaving commuters stranded. Those fortunate enough to secure transportation had to contend with inflated fares.
Local media accounts depict motorists enduring lengthy queues at the few operational petrol stations. Many stations have shuttered due to supply shortages from the formerly state-owned oil company, leading to a surge in black market sales at exorbitant prices, sometimes triple the normal rate.
Last Thursday, Abuja, as well as neighbouring Nasarawa and Niger states, witnessed the resurgence of long queues at petrol stations.
Despite assurances from the Nigerian National Petroleum Company (NNPC) that petrol prices would remain stable and supplies were sufficient, panic buying persisted. The NNPC attributed the limited availability of petrol to logistical challenges, which it claims to have addressed.
Contrary to rumors, an NNPC spokesperson, as reported by privately-owned newspaper The Punch, denied allegations of fuel rationing and favoritism towards supplying Abuja.
Nigeria, despite its status as one of Africa’s largest economies and oil producers, frequently grapples with oil scarcity issues.