Fuel shortages that began in parts of Nigeria last week have worsened, leading to widespread disruptions in businesses, particularly in the commercial hub of Lagos.
Public transport services were severely affected on Monday, with operators suspending services and those still operating charging higher fares. Reports from local media indicate that motorists are facing long queues and spending hours at petrol stations still open for fuel.
Many stations have shut down due to shortages in supplies from the formerly state-owned oil company, leading to a surge in black market sales at inflated prices, sometimes triple the normal rate.
Last Thursday, long queues reappeared at petrol stations in the capital, Abuja, as well as in the neighbouring states of Nasarawa and Niger.
Despite the shortages, the Nigerian National Petroleum Company (NNPC) has urged the public not to engage in panic buying, assuring that there is sufficient fuel and prices will remain stable.
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.
PRESS RELEASE
NNPC Ltd Says Cause of Tightness in Fuel Supply Resolved
The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a… pic.twitter.com/6VhgaD2DUd
— NNPC Limited (@nnpclimited) April 25, 2024
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 economy and oil producer.