Nigerian Lawmakers Summon Petroleum Minister Over Fuel Scarcity and Soaring Prices

Nigeria's House of Representatives summons the Petroleum Minister to address the persistent fuel scarcity, as prices soar and transportation costs rise, exacerbating the country's economic crisis.

Nasiru Eneji Abdulrasheed
New Update
Nigerian Lawmakers Summon Petroleum Minister Over Fuel Scarcity and Soaring Prices

Nigerian Lawmakers Summon Petroleum Minister Over Fuel Scarcity and Soaring Prices

The Nigerian House of Representatives has invited the Minister of Petroleum Resources to brief lawmakers on the persistent petrol scarcity in the country, as fuel prices have soared to as high as N1200 per liter in some states. This comes despite assurances from the Nigerian National Petroleum Company Limited (NNPCL) that it has a 1.5 billion liter supply that will last for 30 days.

Nigerians have been queuing for hours to buy fuel across major cities, leading to increased hardship for millions already struggling with the country's economic crisis. The fuel shortage has resulted in a sharp rise in transportation costs, with authorities blaming the shortage on supply disruptions due to logistical challenges.

The NNPCL has attributed the scarcity to logistical issues, which it says have been resolved, but the lawmakers are concerned that the company has not adequately addressed this "perennial and persistent fuel scarcity problem" faced by Nigerians. The House of Representatives passed a resolution to invite the Minister of Petroleum Resources, either President Bola Tinubu or Minister of State Heineken Lokpobiri, to brief them on the situation and ensure that lasting measures are taken to address the issue permanently.

Why this matters: The persistent fuel scarcity and soaring prices have exacerbated the hardships faced by Nigerians amidst the country's ongoing economic crisis. The situation has led to increased transportation costs and difficulties for businesses relying on generators due to Nigeria's erratic power supply.

Independent petroleum marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened to stop the supply of petrol if the federal government fails to pay the N200 billion outstanding bridging claims owed to them. IPMAN claims the NNPCL imports the products and supplies them to private depots at exorbitant prices, making it difficult for them to sell at the agreed pump price.

The House resolution was reached following a matter of urgent national importance raised by a lawmaker, who emphasized the dire situation faced by Nigerians, with the adverse economic effects caused by fuel subsidy removal yet to be addressed by the government. The lawmakers expressed deep concern over the resurgence of fuel scarcity and highlighted the failure of the NNPCL to effectively address the persistent issues despite having ample resources at its disposal.

Key Takeaways

  • Nigerian House summons Petroleum Minister over persistent fuel scarcity
  • Fuel prices have soared up to N1200/liter despite NNPCL's 30-day supply claim
  • Fuel shortage causes sharp rise in transportation costs, economic hardship
  • IPMAN threatens to stop fuel supply over unpaid bridging claims by govt
  • Lawmakers express concern over NNPCL's failure to address the crisis