Business Watch
Fuel Crisis Deepens: Nigerians Groan Under Nationwide Shortage
Fuel Crisis Worsens: Petrol Scarcity Spreads Nationwide, Prices Skyrocket.
A severe petrol shortage that began in Lagos and Abuja over a month ago has now spread to various parts of the country, with prices reaching as high as N1000 in some areas. Many petrol stations remain closed, citing a lack of supply.
The scarcity has significantly disrupted commercial and social activities, causing widespread hardship. Despite attributing the shortages to “distribution challenges,” the Nigerian National Petroleum Company Limited (NNPCL) has failed to provide a clear explanation for the current surge, which has persisted in Abuja for over four weeks.
Black market operators are capitalizing on the crisis, selling 10-liter jerrycans of petrol for as much as N12,000. Private fuel stations with available stock are charging between N750 to N1050, depending on their location. The situation continues to deteriorate, leaving consumers to bear the brunt of the fuel crisis.