Fuel scarcity has made a troubling return to Lagos and its surroundings, as numerous oil marketers have closed their outlets, leaving motorists and consumers in a lurch.
Last week, a similar issue was reported in Abuja, attributed by oil marketers to poor road conditions and the soaring cost of diesel for distribution.
However, recent observations over the weekend have revealed that both independent and major oil marketers have halted operations, leaving the responsibility of serving customers in most parts of Lagos to NNPC Limited, the only remaining importer of the product.
This scarcity has persisted despite fuel deregulation, as other operators have struggled to import petrol due to market instability and a lack of foreign exchange.
The informal exchange rate has reached over N1,000 per dollar, compounding the challenges faced by these operators.
Chinedu Okoronkwo, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has indicated that measures are being taken to address this crisis.
He stated, “Stakeholders have been meeting, and measures have been taken to enable oil marketers to access foreign exchange at a rate that will not disrupt the current price of the product.”
Meanwhile, in Abuja, most major marketers that are still operational have raised their pump prices from N615 per liter to N625 per litre, adding to the woes of already burdened consumers.
