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Fuel Shortage Spreads To Lagos And Surrounding Areas As Oil Marketers Close Filling Stations.

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Indications emerged yesterday of a return of petrol scarcity to Lagos and its surrounding areas, as numerous oil marketers closed their outlets to motorists and other customers… CONTINUE READING 

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The recent scarcity had been observed in Abuja and its vicinity last week, a situation attributed by oil marketers to poor road conditions and the high cost of diesel for distribution.

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However, an investigation conducted by Vanguard over the weekend revealed that many independent and major oil marketers were not open for business, with only NNPC Limited serving customers in most areas of Lagos that were visited.

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It was reported that NNPC Limited is the sole importer of the product due to its available supply.

Despite the fuel deregulation, other operators have been unable to import petrol, primarily because of market uncertainties and the shortage of foreign exchange, which is currently trading at over N1,000 per dollar in the informal market.

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In a telephone interview with Vanguard, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Okoronkwo, stated that measures have been taken to address the situation.

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