Motorists begin panic buying as fuel queues return in Abuja

Motorists begin panic buying as fuel queues return in Abuja

There is an ongoing fuel panic buying in Nigeria's capital city, Abuja.

Premium Times reports that the queues at the fuel stations in the Federal Capital Territory resurfaced on Friday, April 12.

However, in its reaction, the federal government through the Nigerian National Petroleum Cooperation (NNPC) has said that there is enough fuel to last motorists for a long period of time.

It was also gathered that the long queues at the fuel stations could have been triggered by alleged inability of fuel marketers to lift products from the Suleja fuel depot, which services Abuja and its environs.

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The tankers were said to have experienced difficulty in lifting products due to the Petroleum Equalisation Fund (PEF) server, which became faulty.

The report said normalcy was said to have returned gradually late on Friday after the officials at the depot decided to resort to manual method to load the tankers.

Meanwhile, Legit.ng previously reported that the Nigerian Labour Congress (NLC) has cautioned the federal government against implementing the recommendation of the International Monetary Fund (IMF) on the removal of subsidy on petroleum products in the country.

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Ayuba Wabba, NLC president, gave the advice at a news conference on Saturday, April 13, in Abuja. The news conference was tagged: “Public Declaration of Nigeria’s Host of the 6th African Meeting of Solidarity with Cuba, September 23 to September 25 and Inauguration of Local Organising Committee (LOC).

Wabba said that the continued devaluation of the Nigerian currency had created the impression of the existence of subsidy. He said that as long as the value of the naira was left to market forces, the issue of subsidy would continue in the country.

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Source: Legit.ng

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