Despite the recent price adjustment, petrol shortages continue to plague Nigeria, with long queues and black market sales persisting. The Federal Government’s efforts to restore normalcy in the supply chain have yet to yield results, with many petrol stations remaining shut and independent marketers struggling to access supplies.
President Bola Tinubu defended the petrol policy, stating that the removal of subsidies aims to free up budgetary resources for critical investments. The Minister of Finance, Wale Edun, assured that the government would enhance supply with 25 million liters starting in September through the Dangote refinery.
However, petroleum marketers attribute the supply gap to the failure of Dangote Refinery and NNPC Limited to reach an agreement on the off-taker price. Experts propose solutions, including increasing supply on a sustainable basis, addressing issues affecting supply, and encouraging increased participation of all players in the downstream sector.
Vanguard.
