Fuel Scarcity Persists Across Nigeria Despite NNPC Claims of Resolution

Despite assurances from the Nigeria National Petroleum Corporation (NNPC) Limited that issues causing fuel scarcity have been resolved, the situation continues to deteriorate in Lagos, Ogun State, Abuja, and other parts of the country.

Last week, NNPC spokesperson Olufemi Soneye issued a press release asserting that all factors contributing to fuel scarcity had been addressed, with an excess supply of petrol in the nation. However, recent observations by EnergyPlanets reveal a starkly different reality on the ground.

In Lagos, petrol stations are selling fuel for as high as N850 to N900 per litre in areas such as Maryland, Ikeja, Agege, Surulere, and Iyana Ipaja.

Similar scenes were observed in Abuja, where long queues formed at filling stations along Abuja Airport Road, Lugbe, and Nasarawa-Abuja Road. Black market operators were spotted selling petrol for as much as N1,500 per litre.

Filling stations have resorted to closing their doors or refusing to serve individual customers, exacerbating the challenges faced by consumers. In areas like Agege, Ikeja, Ogba, and Ikotun, operational stations sell fuel at inflated prices, reflecting heightened demand amid the scarcity.

The scarcity’s impact is felt particularly in regions like Ikorodu, Sango, and Mowe in Ogun State, where motorists endure prolonged waits in line. Commuters in Lagos face increased transportation costs as motorists and motorcycle riders double their fares in response to the scarcity.

Speculations abound regarding an imminent increase in petrol prices, leading to excessive hoarding and panic buying. Ayodele Oni, an oil and gas expert, noted the fragility of the sector, stating, “The oil and gas sector thrives on rumors and speculations.” He highlighted the discrepancy between the government’s price cap and the actual market prices.”

Chinedu Ukadike, the Public Relations Officer of IPMAN, warned that the scarcity could persist for an additional two weeks due to challenges in sourcing petroleum products, exacerbated by refinery maintenance in Europe.

“I also have it on good authority that most of the refineries in Europe are undergoing turnaround maintenance, so sourcing petroleum products has become a bit difficult.

“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving.

“Once that is done, normalcy will return. This is because once the 30-day supply sufficiency is disrupted, it takes two to three months to restore it,” he added.

Olufemi Soneye, the NNPC spokesperson, had earlier stated that logistical issues impacting fuel distribution had been resolved, reassuring Nigerians of fuel availability and urging against panic buying.

“The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.

“It also wishes to reiterate that the prices of petroleum products are not changing. It urges Nigerians to avoid panic buying as there is a sufficiency of products in the country,” Soneye said

However, the scarcity persists despite these assertions, with no response from NNPC to queries regarding the ongoing situation.