Nigerian Fuel Crisis Persists as NNPC Offloads 240 Million Litres of Petrol

Nigeria's NNPC offloads 240 million liters of fuel, but prices remain high at ₦800/liter, crippling economic activities. Authorities promise relief soon, but challenges persist, highlighting the need for a lasting solution to the fuel crisis.

Israel Ojoko
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Nigerian Fuel Crisis Persists as NNPC Offloads 240 Million Litres of Petrol

Nigerian Fuel Crisis Persists as NNPC Offloads 240 Million Litres of Petrol

The Nigerian National Petroleum Company Limited (NNPC Ltd) has offloaded 240 million litres of petrol in an effort to tackle the ongoing nationwide fuel scarcity. Despite this move, filling stations across various locations continue to sell petrol at an average price of N800 per litre as of April 30, 2024.

The imported petrol was delivered through five vessels and offloaded into five depots, as confirmed by Ayo Cardoso, the South-West Regional Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). However, challenges persist, with many filling stations in Lagos and other parts of the country remaining closed, forcing citizens to face prolonged difficulties in obtaining fuel.

The fuel crisis has led to a significant increase in transportation costs, with commuters facing long queues at the few open stations. The situation has been exacerbated by the resumption of public schools in some states. Motorists and commercial drivers have resorted to buying from the black market at higher prices, leading to a hike in transport fares across the city.

The NNPC has prioritized fuel distribution to the Federal Capital Territory (FCT), Abuja, before other regions, leading to a fleet of trucks being dispatched to Abuja on Sunday. The company has assured that the supply challenge is due to logistics issues and that the situation will return to normal soon, urging Nigerians to avoid panic buying.

Why this matters: The persistent fuel scarcity in Nigeria has crippled economic activities across the country, with small and medium-sized enterprises (SMEs) having to ration their operating hours or shut down due to the crisis. The situation highlights the need for the government to find a lasting solution to the problem and ensure a stable fuel supply for its citizens.

Ayo Cardoso of the NMDPRA assured the public that the regulatory body is committed to ensuring that Nigerians are not exploited by opportunistic pricing at filling stations. The NNPC's Chief Communications Officer, Olufemi Soneye, stated that the company currently has an availability of products exceeding 1.5 billion litres, which can last for at least 30 days, and that the fuel crisis will be cleared out by Wednesday, April 31. The Independent Petroleum Marketers Association of Nigeria (IPMAN) expressed hope that the queues in Lagos and Ogun would ease off this week, although the queues in Abuja might take longer due to the distance from Lagos and the bad roads.

Key Takeaways

  • NNPC offloaded 240M liters of petrol, but prices remain high at N800/liter.
  • Fuel scarcity persists, with many stations closed and long queues at open ones.
  • Transport costs have risen, exacerbated by school reopenings in some states.
  • NNPC prioritized fuel distribution to Abuja, assuring supply will return to normal.
  • Fuel crisis cripples economic activities, highlighting need for stable supply solution.