OIL MARKETERS URGE SENATE TO APPROVE FUEL SUBSIDY APPROPRATION TODAY TO AVERT CRISIS

The Senate is expected to today approve the N413 billion for fuel subsidy sent to it by President Muhammadu Buhari. Approving the money would help cushion the pains associated with the current fuel scarcity that has adversely affected the economy, causing many motorists to sleep at filling stations.

Read more @ BusinessDayNg

FUEL CRISIS WORSENS, MORE PAINS FOR COMMUTERS

Three weeks on, there does not seem to be as yet any light at the end of the fuel scarcity tunnel. Queues remain long at filling stations and the hardship continues with a litre of Premium Motor Spirit (PMS) selling at an average of N120 to N150 at filling stations and about N200-N250 at the black market. This is in spite of efforts by the Federal Government and the Nigerian National Petroleum Corporation (NNPC) to ameliorate the hardship just as President Muhammadu Buhari had promised to pay subsidy arrears of N413 billion to marketers.
Read more @ The Guardian Online

COUNTING COST OF FUEL CRISIS

In what many observers have described as Nigeria’s worst nightmare in recent times, several businesses caught in the web of the protracted fuel crisis are still counting their losses running into hundreds of millions, reports Ibrahim Apekhade Yusuf

Fuel crisis is not new in this part of the world. But to many Nigerians who have had to endure the bitter pill of the lingering fuel scarcity these past weeks, the hoopla generated by the non-availability of petroleum products have been rather unprecedented.

Read more @ SweetCrude Rep

NIGERIA: FUEL SCARCITY TO LINGER BEYOND MAY 29

There are strong indications that the on-going fuel scarcity being experienced in the country may linger beyond the May 29, date for handover to the President-elect, Muhamadu Buhari.

According to industry operators, the supply of fuel at the depots cannot meet demand. They unanimouslydeclared that the rate at which the tankers are being loaded at the various deports falls short of what could abate the lingering scarcity in the coming weeks.

Read more @ Sweetcrude Reports