The Federal Capital Territory (FCT) and several states across Nigeria are grappling with an acute shortage of Premium Motor Spirit (PMS), commonly known as petrol. The scarcity, which initially struck the FCT over a month ago, has escalated in recent days, extending its reach nationwide. The situation has sparked significant disruption of commercial and social activities, particularly in Abuja, Lagos, Kaduna, Kano, Port Harcourt, Niger, and Nasarawa, among other regions. As queues at fuel stations stretch to unprecedented lengths, the price of petrol has soared to over N1,000 per litre in some states.
The scarcity has hit Abuja particularly hard, with black market prices for a 10-litre container of petrol reaching N12,000. Private filling stations, where the product is available, are selling it at prices ranging from N700 to N1,050 per litre, depending on the location. Meanwhile, the few NNPC mega stations in Abuja continue to sell petrol at the official rate of N617 per litre, but queues at these locations stretch for several kilometers. This situation has also led to a sharp increase in transportation costs, with fares doubling on many routes within Abuja.
Some marketers have pointed to the ongoing subsidy payments as a major factor in the fuel crisis, despite claims by President Bola Tinubu’s administration that the subsidy on petrol has been removed. These marketers argue that only the NNPC, as the sole importer and government-backed entity, can afford to sell petrol below its landing cost due to access to dollars at the official exchange rate.
In response to the growing concerns, Chief Corporate Communications Officer of the NNPC, Femi Soneye, acknowledged the ongoing “evacuation challenges” in Lagos but expressed optimism that the situation would improve by midweek. In a subsequent statement, Soneye expressed regret over the fuel shortages, citing distribution challenges as the root cause. He urged motorists to refrain from panic buying, assuring that the company is collaborating with relevant stakeholders to restore normalcy.
