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Causes Of The Current Fuel Scarcity - Politics - Nairaland

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Causes Of The Current Fuel Scarcity by makzeze: 8:28am On Mar 28, 2016
Many Nigerians dont actually know what causes the current fuel scarcity and Here is what you need to know about the current fuel scarcity:

1. The scarcity has been attributed to scarcity of forex and NNPC being the sole importer of the product
The scarcity of foreign exchange has also impeded the efforts of major marketers to import petroleum products as expected. Of the five major marketers, only Mobil Oil and Total have been able to import petroleum products because of their foreign affiliations. Other major oil marketers find it difficult to source for the dollar at over N300 to $1, to import petroleum products, leading to an imbalance in the expected products to be distributed across the nation.


2.According to the Petroleum Tankers Drivers (PTD) National Chairman, Comrade Salimon Akanni Oladiti, “the situation has been fragile since the NNPC assumed the role of the sole importer of petrol. There is a supply gap…now, since the NNPC imports 78 percent of the petrol needs of the country, with other marketers sharing the remaining 22 percent.”

http://venturesafrica.com/here-is-what-you-need-to-know-about-the-current-fuel-scarcity-across-the-federation/

3. Hoarding by some independent marketers who are able to get the fuel. These marketers either hoard the product and sell to black marketers in the night or sell to another marketer above the govt approved price.

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