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The fuel scarcity situation in Lagos has escalated significantly, with reports of prices reaching as high as ₦1,500 per liter on the black market.
This shortage has led to long queues at the few filling stations that still have fuel, while others have completely run out of stock. Illegal fuel hawkers are taking advantage of the crisis, selling fuel at exorbitant prices in areas like Ikorodu Road, Maryland, Gbagada, and Ogba.
The scarcity is reportedly due to supply chain issues, with some marketers claiming that the Nigerian National Petroleum Company Limited (NNPCL), the sole importer of fuel, has been unable to pay importers since March, leading to the current shortage.
This has caused transport costs to skyrocket, with commuters and drivers expressing frustration over the situation.
NNPCL has responded to the situation, denying allegations that it owes international oil traders $6.8 billion and clarifying that they are fulfilling their financial obligations.
The company has also emphasized that they are not responsible for the fiscalization of imported petroleum products, which falls under the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The scarcity has not only created chaos in the fuel supply but also worsened traffic congestion in Lagos, as motorists queue for hours to get fuel, significantly affecting daily life in the city.
