Nigerian fuel shortages persist

LAGOS. — Nigeria’s fuel marketers, who are still not importing due to money owed them, have agreed to distribute fuel brought in by the state oil company, the main trade body said on Saturday, after talking with the new administration on Friday.

Major cities are still suffering from gasoline shortages despite the end of a fuel distribution strike.

After the negotiation last Friday, fuel will become available not just at state-owned retail stations but those owned by major and independent marketers to reduce the queues of double-parked cars. The dispute over subsidy payments brought much of Nigeria to a standstill in May, as it relies almost wholly on imports.

Nigeria now depends wholly on swapping its crude for fuel imports, Obafemi Olawore, spokesman for Major Marketers Association of Nigeria (MOMAN) said, as those waiting for subsidy payments are unable to secure commercial loans to bring in fresh supplies. — Reuters.