Several oil marketers, responsible for importing petrol a month ago, have ceased bringing the commodity into the market, resulting in sporadic scarcity in some regions.
Currently, the sole importer is the Nigerian National Petroleum Company Limited (NNPCL), as private dealers face challenges due to the reintroduction of subsidy on petrol and NNPCL’s reluctance to raise pump prices.
Marketers, who previously influenced price adjustments, are now hesitant to import, leaving depots dried up. The NNPC, with its retail outlets, struggles to meet demands, leading to queues at fuel stations.
The National President of the Natural Oil and Gas Suppliers Association of Nigeria confirms depots are out of stock. The government denies plans to increase pump prices, emphasizing its commitment to affordability.
The situation raises concerns about the potential return of long queues if the issue persists.
