Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,193,945 members, 7,952,815 topics. Date: Thursday, 19 September 2024 at 03:45 AM

Is Fuel Scarcity In Nigeria About To Return? - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Is Fuel Scarcity In Nigeria About To Return? (514 Views)

El-Rufai's Tweet About Fuel Scarcity In 2014 (Throwback) / How Much Is Fuel Selling Arround You? / Blessings Of Fuel Scarcity In Nigeria (2) (3) (4)

(1) (Reply)

Is Fuel Scarcity In Nigeria About To Return? by gistyinka(m): 6:02pm On Jul 04, 2016
Nigeria may be on the brink of yet another fuel scarcity as foreign banks suspend the credit facilities of petroleum imports. It seems importers of petroleum products will not be able to meet up with fuel demand in the short term as some foreign banks have suspended short and medium-term credit lines to their Nigerian counterparts, due to the failure of marketers to meet their mature foreign currency obligations of over $950 million.

In the event that these foreign obligations are not met, the country will once again be left with no option but to depend completely on the Nigerian National Petroleum commission (NNPC) for the supply of petroleum products. Dr Ibe Kachikwu, the General Managing Director (GMD) of the NNPC said earlier this year that the organization that supplies between 45 to 50 percent of the country’s petroleum products was not able to adequately meet the fuel needs of the country. Therefore this has led to fears that Nigeria may yet again encounter another unwelcome episode of fuel scarcity.

Is Nigeria Going to Experience Another Fuel Scarcity?

Re: Is Fuel Scarcity In Nigeria About To Return? by Barackmeringo: 6:24pm On Jul 04, 2016
please tell me you're kidding sad

(1) (Reply)

PDP Says Oshiomhole 'governor Has Failed Edo People' / Opinion: Buhari Has Been Technically Defeated / PHOTOS: Troops Immunize Children At Bama IDP

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 18
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.