Nigeria’s fuel crisis brings businesses to a halt

Fuel shortages that hit parts of Nigeria last week have escalated, bringing several businesses to a halt, including in commercial hub Lagos.

Public transport users were left stranded on Monday as operators pulled services, while some of those who obtained transportation were made to pay higher fares, privately-owned broadcaster Channels Television reported.

Local media reports say motorists are scrambling and queuing for fuel for hours at the petrol stations still operating.

Many stations have closed, citing shortages in supplies from the formerly state-owned oil company, which has seen black market retailers sell oil by up to three times the normal price.

Last Thursday, long queues returned at petrol stations in the capital, Abuja, and the neighbouring Nasarawa and Niger states.

But the Nigerian National Petroleum Company (NNPC) warned against the panic buying of petrol, saying prices would not change and that there was sufficient fuel.

The NNPC said on Thursday in a statement on X, that the limited availability of petrol was a result of logistical problems, which had been fixed.

On Monday, a spokesperson for the company denied reports that it was rationing fuel sold to retailers and that it was prioritising supplies to the capital, Abuja, privately-owned The Punch newspaper reported.

Nigeria frequently experiences oil scarcity, despite being one of Africa’s biggest economies and oil producers.

Source: BBC

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