Nigerians are currently paying through their noses for fuel after scarcity hit Africa’s largest oil producer, forcing the commodity’s prices to go through the roof.
The scarcity, caused by the supply shortage resulting from the inability of the Nigerian National Petroleum Company (NNPC) Limited to meet its debt obligations to international petroleum marketers, has lingered for weeks.
In response, the NNPCL jacked up the pump price of fuel last week from ₦650 to nearly ₦900 with the hope of increasing supply and consequently fading out the long queues at filling stations nationwide.
