Nigeria continues to grapple with rising petrol prices and worsening fuel scarcity, leaving citizens frustrated as queues at filling stations grow longer.
As of November 21, 2024, the pump price of petrol has surged in various states, with some stations selling at nearly double the official rate. Reports from Lagos, Abuja, and Port Harcourt reveal that many filling stations remain closed, citing supply shortages. In areas where petrol is available, motorists are spending hours in queues, with some resorting to buying from black market vendors at exorbitant rates.
The scarcity and price hikes have caused ripple effects on transportation costs, food prices, and overall living expenses, sparking widespread public discontent. Many Nigerians have taken to social media to express their frustration, while protests have been reported in a few locations.
The Nigerian National Petroleum Company Limited (NNPCL) has attributed the scarcity to distribution challenges and panic buying but assured the public that efforts are underway to restore normalcy. However, industry insiders point to delays in subsidy removal payments and forex difficulties affecting importers as contributing factors.
Meanwhile, transport unions are contemplating fare increases to offset the higher operational costs, adding further strain on commuters.
The government has yet to issue a formal statement addressing the crisis, leaving many Nigerians questioning when relief will come.
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