Home Business Black market thrives as petrol stations operate at night, shutting out motorists.

Black market thrives as petrol stations operate at night, shutting out motorists.

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Black market thrives as petrol stations operate at night, shutting out motorists.

Nigeria, Africa’s largest oil producer, is facing another severe fuel scarcity crisis, with motorists in cities like Abuja and Lagos enduring long queues at filling stations. Many stations have shut down, forcing people to turn to the black market, where petrol prices have soared to N1,200 per litre. Allegations have surfaced that some stations are withholding fuel during the day to sell it at night at inflated prices.

The Nigerian National Petroleum Corporation (NNPC) attributes the scarcity to distribution challenges and is working to resolve the issue. However, the situation has intensified economic hardship, with rising transport costs affecting goods and services. The dangerous practice of storing petrol in jerrycans also poses significant fire risks. Meanwhile, Nigerians have criticized NNPC’s CEO, Mele Kyari, for embarking on a religious tour amid the ongoing crisis.

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