Nigeria: Coping With Fuel Scarcity in a Bad Economy

Lagos — Perhaps, there is a ray of hope, for Lagosians in particular and Nigerians in general, over the recurrent fuel scarcity that has continued to bring hardship on the Nigerian people.

But that is if President Umaru Yar’Adua assurance that the situation would be brought under control within the next two weeks is anything to go by. For days, movements in Nigerian cities have been made difficult, as most petrol filling stations have closed shop. Where they are functioning, they sell the product at cutthroat prices.
The regulated price is N65 per litre but in the past days, the price has hit the rooftop with filling stations selling at N100 and above in Lagos. The black market, which is thriving as a result of the scarcity, is like no-go area as a litre goes for not less than N150.

In other cities, the prices are even higher because Lagos enjoys the privilege of having seaports where petroleum products are loaded and discharged and for its proximity with Mosimi depot in Ogun state.

The President, according to media reports on Wednesday, explained why the country has been experiencing the scarcity saying the major oil marketers have been sabotaging the government’s effort because of its intention to curb corruption through deregulation.

AllAfrica