Business
Lagos Residents Upset With Fuel Scarcity
The sun sets with droves of residents in Lagos, Nigeria’s economic capital, struggling for transportation to various destinations across the over 20 million peopled city. Some, frustrated by the routine traffic situation, cut a depressed figure in their cars as they make haste to get to their offices while others came be seen on long queues, waiting for buses. This is status quo; since the seemingly perennial fuel shortage hit this Nigerian mega city, life has become a little harder.
However, Lagosians, as the city’s residents are fondly called, are no different to residents in other cities across Nigeria, although the extra shot of hustle that comes with living in one of Africa’s most populated cities, makes everyday a competition. Also the inability of the Nigerian National Petroleum Corporation (NNPC) to deliver adequate quantities of petroleum product has resulted in skyrocketing prices, which has brought untold hardships. Although the official market price for fuel is N97 ($0.6), selling price has shot up to N160 ($1) in some areas, weighing in on the income of workers, students, small business owners and others.
Long queues, arbitrary inflation of transport fares, and kegs in the hands of most Lagosians paints a picture of the situation, which continues to impact personal finance and productivity negatively as the oil marketers/Petroleum Ministry blame-game continues. Across the city the tales are different: many business owners have recorded a downturn in output, commuters have had their movement restricted while some remain stranded at bus stops for long hours on a daily basis. But for attendants at filling stations, the chance to make some extra cash presents itself in the form of keg owners who would gladly pay a little extra to the scarce product.
Copyright Ventures Africa 2014
