Another Fuel Crisis Looming

Another Fuel Crisis Looming

Just as there are mixed reactions on the new petrol price regime, another fuel crisis looms as some vessels are unable to unload petrol and diesel.

At least 75 ships containing two and a half million metric tons of fuel are waiting for importers in the rural area to get the dollars they need to compensate for the shipments.

This is coming in when Nigerians are still trying to understand the new price regime, with some arguing against in and some others saying it is necessary.

Foreign exchange, which has been a major issue for a while now is the cause of this delay and a number of marketers who were given petrol import allocations had not been able to source it.

The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, refused to state if it were the lack of dollars or not causing the delay.

The Executive Secretary, Depot and Petroleum Products Marketers Association, Mr. Olufemi Adewole, had on Friday said,

"The crux of everything we are saying borders on foreign exchange. Sourcing for foreign exchange is the key challenge. Marketers have been told to source for foreign exchange."

This is not the kind of issue Nigerians should be facing just when they are still trying to live with the new price regime, coupled with the economic challenges that is sweeping the average citizen off his/her feet.