The Nigeria National Petroleum Corporation (NNPC) Limited has attributed the ongoing petrol scarcity in areas like Lagos and Abuja to a ‘hitch’ in the discharge operations of vessels delivering petrol to filling stations in these regions.
The spokesperson of NNPC, Olufemi Soneye, said this in a statement on Saturday in Abuja.
Soneye explained that the ‘hitch’ disrupted normal operations. He added that the company is working with other stakeholders to resolve the issues and restore normalcy.
“NNPC Ltd Speaks on Fuel Supply Situation
“The NNPC d. wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is a result of a hitch in the discharge operations of a couple of vessels.
“The Company further states that it is working round the clock with all stakeholders to resolve the situation and restore normalcy in the operations,” Soneye said.
Backstory
Filling stations in Abuja, Lagos states of Niger, Nasarawa, and Kogi, were shut on Friday and Saturday as oil marketers expressed worry over the planned nationwide protest slated to commence on Thursday, August 1.
Retail outlets, including those operated by the Nigerian National Petroleum Company Limited in Kubwa, Salbas Oil, Eterna, and Gegu Oil, among others located on the Kubwa-Zuba expressway, stopped dispensing fuel.
The same scene was also witnessed inside the mainland of Lagos and parts of Niger and Nasarawa states.
Nairametrics observed that filling stations in Lokoja, the Kogi State capital, were also shut.
Also, several filling stations in some parts of Lagos State were closed on Saturday, creating fears of an impending increase in the price of transportation on Monday.
What you should know
Despite the removal of fuel subsidies in Nigeria, the nation continues to grapple with periodic fuel scarcity. This ongoing challenge undermines the expectations that subsidy removal would stabilize the fuel supply.
The recent fuel scarcity marks the third instance in 2024 alone, highlighting the persistent volatility in the country’s fuel market. This recurrent issue has caused significant inconvenience to consumers and raised concerns about the underlying factors contributing to these disruptions.
The belief that the removal of fuel subsidies would put an end to fuel scarcity has now become increasingly far-fetched. Many Nigerians had hoped that subsidy removal would lead to a more efficient and reliable fuel market, free from the frequent shortages that plagued the country in the past.
However, the current situation suggests that the root causes of fuel scarcity run deeper than just subsidy policies. Structural inefficiencies, regulatory challenges, and market manipulation continue to undermine efforts to achieve a stable fuel supply.
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