₦airaland Forum

The major companies and unions that
distribute petroleum products across Nigeria
agreed on Monday to end a devastating fuel
strike that has largely shut down Africa’s
biggest economy.
The main unions and industrial groups who
are collectively responsible for supplying and
distributing the majority of petrol and diesel in
Nigeria made the announcement after a
meeting in Nigeria’s Senate.
“We have agreed… (to) commence lifting of
products from all available depots within the
next six hours,” said Babafemi Olawore,
Executive Secretary of the Major Oil Marketers
Association of Nigeria.
Kassim Bataiya, of the National Association of
Road Transport Owners (NARTO), said his
body “fully endorsed” the statement.
It has been nearly impossible in recent days to
purchase petrol from licensed stations across
Nigeria, Africa’s most populous country and
leading oil producer.
Black market sellers have sold jerry cans of
fuel by the roadside at inflated prices,
sometimes offering a tainted or diluted
product that destroys engines.
Most companies rely on a steady supply of
diesel to power generators given the massive
shortage of public electricity in Nigeria.
Banks closed early on Monday because of the
diesel shortage, while telecommunication
companies warned of service disruptions to
their networks.
The shortages were caused by a row between
the outgoing government and importers, as
well as strikes by petrol tanker drivers and oil
and gas workers.
Despite producing some two million barrels of
crude per day, petroleum products have to be
imported to Nigeria because of a lack of
functioning domestic refineries.
The government keeps the price at the pumps
below the market rate for consumers and pays
the difference to importers and marketers.
But they say they are owed $2 billion in
arrears and shut fuel depots to force the
government to pay.
It was not immediately clear what, if any, deal
was offered to help break the deadlock.
The administration of President Goodluck
Jonathan, which leaves office on Friday, has
had sporadic battles with fuel importers over
the last five years.
Jonathan’s successor Muhammadu Buhari
has not yet indicated how he plans to handle
the subsidy issue after taking office.

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