Fuel queues have lengthened in major Nigerian cities due to supply challenges faced by the Nigerian National Petroleum Corporation (NNPC), which has struggled to deliver gasoline to local traders and depots.
Last year, despite the government opening gasoline imports to private companies, NNPC remained the sole importer due to foreign currency shortages and a cap on petrol prices.
The situation has been exacerbated by delays in the operational start of Nigeria’s new Dangote Refinery.
NNPC spokesperson Olufemi Soneye attributed the current fuel supply tightness to issues during the discharge operations of several vessels, as queues began forming over the weekend.
Retail gasoline prices have soared to over 800 naira per litre, up from around 617 naira in May 2023, when the government announced the end of gasoline subsidies. This price increase has contributed to Nigeria’s already high inflation and cost-of-living crisis.
NNPC, burdened with debts exceeding US$6 billion to gasoline suppliers, actively seeks financing to settle these outstanding obligations, further impacting fuel supplies across the country.
