Fuel
EKO HOT BLOG reports that most filling stations across Nigeria are currently rationing petrol due to the refusal of fuel marketers to import the product.
This is despite the recent deregulation of the downstream oil sector, which was supposed to allow private marketers to import and sell petrol.
The scarcity of petrol has led to long queues at filling stations in some major cities, including Lagos.
Industry sources say that the marketers are unwilling to import petrol because the landing cost is above the ex-depot price, and they are also facing challenges in accessing foreign exchange.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that it is working with the marketers to resolve the issue.
However, the scarcity of petrol is likely to continue until the marketers are able to import the product at a price that is profitable for them.
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