JUST IN: Fuel Scarcity Looms In Lagos, Environs as Marketers Shun Stations

Lagos and its neighboring areas are on the brink of a significant fuel shortage, with filling stations closing their doors to motorists and other consumers. This scarcity is gradually intensifying due to certain factors.

One primary reason for the closure of these stations is the decision by NNPC Limited to reduce its fuel imports. This move was made to encourage both major and independent marketers to engage in importation following the deregulation of the market.

The report suggests that this issue has escalated because many marketers are facing challenges in sourcing foreign exchange and dealing with instability in the domestic market, making it difficult for them to import fuel.

Speaking on condition of anonymity, a marketer stated, “The reduction in NNPC Limited’s import volume, which was intended to encourage marketers to take up the task, has left a void that urgently needs addressing. Fortunately, the current shortage is relatively mild because fewer people are driving due to the high petrol prices, ranging from N568 to N590 per litre.”

Chinedu Okoronkwo, the National President of the Independent Petroleum Marketers Association of Nigeria, reassured, “We are still in the process of loading.”

However, doubts linger about whether all the products lifted at the depots have made their way to the filling stations. Regulatory authorities from the Nigerian Midstream and Downstream Petroleum Regulatory Authority have not been visibly enforcing compliance.