24 December 2017•Update: 25 December 2017
By Rafiu Ajakaye
LAGOS, Nigeria
Nigerian authorities on Sunday threatened a crackdown on oil marketers, which they believed were behind the unabated fuel scarcity across the country, culminating in long queues and hardships.
The scarcity has been continuing for several days, with many families unable to travel for Yuletide holiday and transportation fares rising over 200 percent.
Many fuel stations are shut while a few others sell at an unofficial rate between 200 ($.55) and 400 ($1.11). Only the government-owned Nigeria National Petroleum Corporation (NNPC) and a private gas marketer BOVAS sell at the official price of 145 ($.40).
In a statement, the Petroleum Ministry said it was monitoring the current crisis and that Junior Petroleum Minister Dr. Ibe Kachikwu was working with NNPC and the Department of Petroleum Resources (DPR) to execute ministerial directives to ensure availability of petroleum products in the market and penalize any sabotage attempts at diversion.
The marketers, which import refined petroleum products, have said they want to officially raise the fuel price to between 200 and 230, claiming the current exchange rate regime (305 to the dollar) is not favorable to them and urging the government to sell dollars to them at a subsidized rate instead.
President Muhammadu Buhari has also weighed in on the worsening crisis, appealing for calm and pledging improvement in the next few days.
"The fuel scarcity being experienced nationwide is regrettable. I sympathize with all Nigerians, on having to endure needless fuel queues," Buhari said on his social media handles on Sunday afternoon, as citizens called him out on the situation.
The president said that he had been assured by the NNPC that the situation would improve significantly over the next few days "as new shipments and supplies are distributed across the country".
"I have also directed the regulators to step up their surveillance and bring an end to hoarding and price inflation by marketers," he added.
