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Tag Archives: Fuel scarcity

Oil price zooms to $75 on Saudi’s desire for international price hike

OPEC Ibe kachukwu

Fuel scarcity may begin from next week in major cities if… Oil prices shut up to its highest since late 2014 as U.S. crude inventories declined after indications emerged that Saudi Arabia is seeking to push oil prices higher. However, due to the collapse of local refining capacity over the years in Nigeria, rising oil prices which ordinarily supposed to ...

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Fuel scarcity can’t end so far NNPC remains sole importer, says TUC

TUC Nigeria

Rising from its National Executive Council (NEC) meeting in Lagos, the Trade Union Congress of Nigeria (TUC) has told Nigerians that the Nigerian National Petroleum Corporation (NNPC) does not have what it takes to import petrol that can effectively saturate the country and end scarcity. The group argued that the current situation in which the Corporation is the sole provider ...

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It is now clear that NNPC cannot resolve the endless fuel scarcity—NASS

buhari-at-nass

Whereas experts and ordinary people on the streets in Nigeria have come to the conclusion that the multiple endless solutions to end fuel scarcity are not working, the House of Representatives has come up with its own solution. The House members, accordingly has asked the Executive arm of government to as a matter of national urgency, submit a N800bn supplementary ...

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Fuel scarcity to remain until oil prices come down to $50 or less—Expert

Osinbajo dispensing fuel

Leading energy analyst, Engineer Abiodun Adewale has argued that so far the nation’s refineries are not yet delivering at full capacity so as to saturate the country with local products, importation of products when crude price is above a certain threshold will continue to mean high landing cost which defines either continued fuel scarcity or higher pump price. He told ...

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Fuel scarcity still frustrating Nigeria cities, businesses—BH Report

NNPC 101

The fuel scarcity that roared its head since early December last year is still persisting in parts of the country even though the government and industry players are maintaining silence. This is the high point of the weekly report of the Business Hilights Intelligence Unit (BHIU), released in Lagos on Sunday. According to the report, “The federal government is yet ...

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Deplorable roads force PTD members to boycott Jebba-Mokwa axis, others

IPMAN

Members of the Petroleum Tankers Drivers (PTD), on Thursday issued a statement, threatening to avoid the use of Jebba- Mokwa and Tatabu Bridges in the distribution of petroleum products due to their deplorable states. The statement signed by the Media Relations Officer of the drivers, Mr. Abdulkadir Garba, said the drivers can longer take the risk of plying the said ...

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Fuel scarcity soars inter-state transport fares beyond reach—BH Intelligence

A typical inter-state motorpark in Lagos

Random checks by Business Hilights Intelligence Unit (BHIU) in parts of Lagos, Abuja and Kano on the Luxury and other bus transport fare plying inter-state routes have shown neck-cutting hike in fares. Most hit are travelers facing eastern parts of the country from Lagos, Abuja and Kano states. Whereas fares for eastern routes are on a daily rise, as at ...

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Fuel queues’ll disappear by weekend in Abuja, others—NNPC

nnpc-boss

Just as fuel scarcity is still biting hard, the Nigerian National Petroleum Corporation (NNPC) on Thursday evening reassured Nigerians that the lingering scarcity will ease by weekend. Spokesman of the agency, Mr Ndu Ughamadu, told newsmen in Abuja that there was an increase in the number of incoming trucks of petrol into the FCT to curb the queues in the ...

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Fuel Scarcity bites harder as motorists expect ease before weekend

NNPC 101

Since the sudden resurfacing of fuel scarcity last week, many motorists have continued to develop several conspiracy theories as the cause of the scourge. Whereas major marketers argue that the Nigerian National Petroleum Corporation (NNPC) is being economical with words on the actual ex-depot price, the situation will not improve. Marketers had for long been saying that NNPC depots are ...

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Fuel scarcity easing upon new threats as oil workers plan strike Dec. 18

Ibe K

Though clear indications across the country suggest that fuel scarcity is easing with speed, the country may likely face another round of fuel crisis next week. This stemmed from leading oil workers’ group, PENGASSAN who had last week, issued seven-day ultimatum to the Federal Government that it would shut down all oil and gas installations, including disruptions to fuel supply ...

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