Fuel scarcity returns to Lagos, Abia, Abuja

Fuel queues have returned to major parts of Lagos and Abia states as
at yesterday, a development which suggests that the queues that
disappeared over three weeks ago was a temporary reprieve.
The situation has further compounded the chaotic traffic movement
in and around the metropolis, leading to long queues of vehicles in
search of petrol.
On the ever busy Iju Road in Ifako Ijaiye, the Nigerian National
Petroleum Corporation (NNPC) retail outlet witnessed long queues of
vehicles waiting to get the commodity same as the Megfom fuel station on
Dayo Adeniji Street, also in Ifako Ijaiye.
The situation played out on the ever busy Awolowo Road in Ikoyi,
Lagos, as long queues of motorists dotted the over five fuel stations
on the road.
On the Ikorodu Road axis, the situation was not different with just a
few of the stations dispensing products while others were under lock
and key.
Recall that the Chief Executive Officer of Seplat Petroleum
Development Co Plc, Mr. Austin Avuru, had last week said that Nigeria
will probably be hit by fuel shortages in three weeks as the government
does not have enough money to pay for petrol subsidies.
“In three weeks we will be back to scarcity because we simply don’t
have the money to pay for subsidy,” said the Seplat boss at a Bloomberg
conference at the Nigerian Stock Exchange (NSE).
Nigeria was almost grounded to a halt last month during the
country’s worst fuel shortage in decades due to a dispute between
oil-product marketers and the outgoing government. President Muhammadu
Buhari disclosed this week that his government is facing severe
financial strain from a treasury that is “virtually empty” and billions
of dollars in debt.
But NNPC said there was enough supply of the product. The
corporation, in a statement issued by Group General Manager, Group
Public Affairs Division, Mr. Ohi Alegbe, cautioned members of the
public against panic buying of petrol.
Alegbe said NNPC had stepped up efforts to maintain stability in the supply and distribution of petroleum products nationwide.
He said there was enough stock of petrol to service the country for
25 days at a national consumption rate of 40 million litres per day even
as the corporation had stepped up product distribution to petroleum
marketers and NNPC retail outlets across the country.
The NNPC said it had sufficient stock of petrol at its coastal depots
in Port Harcourt, Warri and Calabar, besides the stock in the national
strategic reserves.
Fuel queues have returned to major parts of Lagos and Abia states as
at yesterday, a development which suggests that the queues that
disappeared over three weeks ago was a temporary reprieve.
The situation has further compounded the chaotic traffic movement
in and around the metropolis, leading to long queues of vehicles in
search of petrol.
On the ever busy Iju Road in Ifako Ijaiye, the Nigerian National
Petroleum Corporation (NNPC) retail outlet witnessed long queues of
vehicles waiting to get the commodity same as the Megfom fuel station on
Dayo Adeniji Street, also in Ifako Ijaiye.
The situation played out on the ever busy Awolowo Road in Ikoyi,
Lagos, as long queues of motorists dotted the over five fuel stations
on the road.
On the Ikorodu Road axis, the situation was not different with just a
few of the stations dispensing products while others were under lock
and key.
Recall that the Chief Executive Officer of Seplat Petroleum
Development Co Plc, Mr. Austin Avuru, had last week said that Nigeria
will probably be hit by fuel shortages in three weeks as the government
does not have enough money to pay for petrol subsidies.
“In three weeks we will be back to scarcity because we simply don’t
have the money to pay for subsidy,” said the Seplat boss at a Bloomberg
conference at the Nigerian Stock Exchange (NSE).
Nigeria was almost grounded to a halt last month during the
country’s worst fuel shortage in decades due to a dispute between
oil-product marketers and the outgoing government. President Muhammadu
Buhari disclosed this week that his government is facing severe
financial strain from a treasury that is “virtually empty” and billions
of dollars in debt.
But NNPC said there was enough supply of the product. The
corporation, in a statement issued by Group General Manager, Group
Public Affairs Division, Mr. Ohi Alegbe, cautioned members of the
public against panic buying of petrol.
Alegbe said NNPC had stepped up efforts to maintain stability in the supply and distribution of petroleum products nationwide.
He said there was enough stock of petrol to service the country for
25 days at a national consumption rate of 40 million litres per day even
as the corporation had stepped up product distribution to petroleum
marketers and NNPC retail outlets across the country.
The NNPC said it had sufficient stock of petrol at its coastal depots
in Port Harcourt, Warri and Calabar, besides the stock in the national
strategic reserves.