Nigeria is currently grappling with severe fuel scarcity, with the price of petrol reportedly surging to as high as N1,300 per litre due to widespread shortages at depots. The shortage has significantly disrupted daily life, affecting major states including Lagos, Ogun, and parts of Abuja.
Many depots for Premium Motor Spirit (PMS), commonly known as petrol, are running dry, leading to extensive queues at fuel stations and exploitation by black marketers. These black marketers are charging exorbitant prices, up to N1,500 per litre, while petrol stations are selling at rates as high as N800 per litre.
The Nigerian National Petroleum Company Limited (NNPC) has attributed the crisis to disruptions in the discharge operations of several vessels.
Although NNPC has promised to resolve the issues, the situation has continued to deteriorate, causing prolonged delays for motorists and escalating fuel prices. Depot operators have reported widespread stock shortages, affecting the distribution of fuel.
The scarcity has led to a significant impact on both consumers and marketers, with many struggling to secure fuel.
The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, remains hopeful that the situation will improve as fuel supplies are replenished.
However, in the interim, residents across the country are facing inflated prices and limited fuel availability, exacerbating the economic difficulties experienced by many Nigerians. There is currently no immediate resolution to the crisis.