Fuel Scarcity Worsens Across Nigeria As Petrol Prices Surge Beyond N1,000 Per Litre
The biting scarcity of Premium Motor Spirit (PMS), also known as petrol, which had hit the Federal Capital Territory (FCT) since over one month, became more acute at the weekend and spread nationwide, with fuel queues on a scale not seen in recent times, and the product selling for more than N1,000 per litre in some places.
The scarcity led to disruption of commercial and social activities at the weekend in Abuja and the country’s commercial capital of Lagos, as well as Kaduna, Kano, Port Harcourt, Niger, Nasarawa, and several other states.
Many filling stations shut down their operations due to the severe undersupply of PMS.
Although Nigerian National Petroleum Company Limited (NNPCL) had said the shortages were caused by “distribution” challenges, it did not specify the cause of the current spike, which had lingered in Abuja and environs for over four weeks.
But NNPC denied reports that it was indebted to international oil traders to the tune of $6.8 billion and that it had not remitted revenues to the Federation Account since January, among other allegations.
Fuel Scarcity Worsens Across Nigeria As Petrol Prices Surge Beyond N1,000 Per Litre
The biting scarcity of Premium Motor Spirit (PMS), also known as petrol, which had hit the Federal Capital Territory (FCT) since over one month, became more acute at the weekend and spread nationwide, with fuel queues on a scale not seen in recent times, and the product selling for more than N1,000 per litre in some places.
The scarcity led to disruption of commercial and social activities at the weekend in Abuja and the country’s commercial capital of Lagos, as well as Kaduna, Kano, Port Harcourt, Niger, Nasarawa, and several other states.
Many filling stations shut down their operations due to the severe undersupply of PMS.
Although Nigerian National Petroleum Company Limited (NNPCL) had said the shortages were caused by “distribution” challenges, it did not specify the cause of the current spike, which had lingered in Abuja and environs for over four weeks.
But NNPC denied reports that it was indebted to international oil traders to the tune of $6.8 billion and that it had not remitted revenues to the Federation Account since January, among other allegations.
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