With the continuous scarcity of petrol spread across many southwest States and Abuja, commercial bus fares have risen on average by 50% while food prices have also gone up. The meeting between the leadership of NNPC Ltd and oil marketers anchored it on logistic and distribution issues, requesting members of the Major Oil Marketers Association of Nigeria (MOMAN) to work overtime to bridge the supply gap. Analysts argued that the challenge is multidimensional, including the soaring cost of shipping voyages, dollar scarcity, logistical issues, multiple taxes, and human distortion. Analysts believe the scarcity cycles will continue to surface at intervals, except some drastic quick fixes are adopted. These include phase deregulation of petrol, operation of some refineries, or switching to naira-denominated charges on fuel imports.
Subscribe to our mailing list to get the new updates!