Weeks of fuel shortages in Nigeria are worsening the cost-of-living crisis, with the state-run oil company citing “financial strain” as the cause of supply disruptions.
The Nigerian National Petroleum Company Limited (NNPCL) acknowledged ongoing financial issues were affecting fuel distribution.
Nigeria, despite being a major oil producer, frequently faces fuel scarcities, leading to long lines at NNPCL-run stations, where prices are lower than those of private operators.
The company’s financial difficulties are threatening the sustainability of fuel supply.
The shortages come after NNPCL announced a record profit but denied having significant debt. Nigeria relies on fuel imports due to limited refining capacity, even though it’s an OPEC member.
The fuel scarcity has worsened since President Tinubu removed fuel subsidies.
Fuel prices have more than tripled in some areas, significantly impacting transportation costs and everyday living expenses.
The price hikes have led to long queues at NNPCL stations, as drivers seek cheaper fuel amid widespread economic hardship.
The situation has caused frustration among Nigerians, who depend on fuel for transportation and powering generators due to unreliable public electricity.
Calls for government intervention are growing as the crisis deepens, affecting daily life across the country.
