- Persistent fuel shortages continue to disrupt daily life and transportation
- Petrol prices have surged from $0.56 to $0.74 per liter
- Government reforms have led to soaring inflation rates
Nigerians are facing a deepening fuel crisis, characterized by persistent shortages and skyrocketing petrol prices.
Despite being a major oil producer, Nigeria relies heavily on imported fuel because of its insufficient refining capabilities.
The Nigerian National Petroleum Corporation (NNPC) provides the most affordable fuel, but as soon as NNPC increases its prices, private stations follow suit.
At present, petrol prices vary from $0.56 per liter at NNPC stations to $0.74 or higher at independent outlets.
The crisis exacerbates the cost-of-living struggles as many households and vehicles depend on petrol and diesel due to unreliable electricity.
This situation comes on the heels of government reforms aimed at eliminating fuel subsidies and floating the currency, which have already triggered a sharp increase in inflation.
