Fuel Scarcity hits Nigeria
Fuel scarcity has hit Nigeria again, with long queues forming at filling stations across the country. The scarcity has led to a hike in fuel prices, with some stations selling petrol for as high as N1,000 per liter, while the black market price has risen to between N1,500-N1,800 per liter ¹. The current scarcity is attributed to several factors, including: - *Logistics Challenges*: The Nigerian National Petroleum Company Limited (NNPC) has been struggling to distribute fuel to filling stations, leading to a shortage ¹. - *Unstable Value of the Naira*: The fluctuating value of the naira has made it difficult for fuel importers to purchase foreign exchange, leading to a shortage of fuel ². - *Hoarding*: Some fuel marketers have been accused of hoarding fuel, leading to artificial scarcity and high prices ². - *Black Market Activities*: The black market for fuel has also contributed to the scarcity, as some marketers sell fuel to black market operators instead of licensed filling sta...