Bad news people :(… the fuel scarcity currently being witnessed in Nigeria might not improve any time soon.
An industry source who spoke to The Cable, claims that these are the three reasons why you will keep queuing for fuel:
-
Banks have become hesitant to finance imports of petrol and kerosene and have now tagged the transactions as a “political risk”.
-
Recent
payments to marketers were sourced from a loan taken by the federal
government, a development that effectively shook the confidence of the
financial system on the immediate future of subsidy in the country. -
Most
oil marketers have decided against importing fuel until the incoming
government of President-elect, Muhammadu Buhari settles in and defines
its direction on the deregulation of the downstream sector.