- Politician
NNPC Battles Deepening Fuel Scarcity, Black Market Booms
The Nigerian National Petroleum Company Limited (NNPC) has promised to end the petrol queues by Wednesday, despite ongoing black market sales and persistent shortages. NNPC denied owing $6.8 billion to international oil traders, a claim some believe contributed to the fuel scarcity. While NNPC blames distribution challenges, oil marketers report no improvement in supply, and petrol prices in the black market remain high, reaching up to N1,500/litre. The scarcity is widespread across various states, with fuel prices exceeding N1,000/litre in some areas. Despite assurances, the situation remains dire, with many regions still facing significant shortages.