Fuel Scarcity Persists in Nigeria Nearly One Year After Subsidy Removal.
The Executive Vice President (Downstream) of the Nigerian National Petroleum Company Limited (NNPCL), Adedapo Segun, has warned Nigerians to brace for more fuel scarcity in the coming weeks. This follows a sharp increase in fuel prices, further complicating the struggles of citizens nationwide.
Ejes Gist News reports that the NNPC recently adjusted the pump price of petrol to ₦855 per litre at its filling stations, intensifying concerns over fuel affordability.
Speaking on Arise Television’s Morning Show on Thursday, Segun stressed the need for a competitive market to stabilize fuel prices and ensure a steady supply. He pointed to NNPCL’s ongoing difficulties in managing fuel imports and paying off debts to suppliers, which have contributed to the current scarcity.
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Fuel shortages are already being felt across the country, with long queues at petrol stations and reports of price hikes in some areas.
Experts have suggested that the NNPCL consider more strategic borrowing to address these supply challenges and avoid further disruptions. The rising cost of fuel is putting additional pressure on Nigerians, who are already contending with a high cost of living.
The fuel crisis is expected to have ripple effects on transportation and the prices of goods and services, exacerbating inflation and adding to the financial burden on households across the country.
