RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Fuel scarcity deepens 35 days to Nigeria’s general election.

Rate Captain by Rate Captain
January 22, 2023
in Economy
Reading Time: 2 mins read
A A
0
Fuel scarcity deepens 35 days to Nigeria’s general election.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Less than two months before the federal elections, Nigerians are becoming more concerned as the fuel shortage worsens.
Since Monday, January 16, 2023, there has been an increase in petrol shortage across the nation, as large queues have been seen, in
Lagos and Port Harcourt amongst other places.

The few filling stations, particularly those of independent marketers, that dispense the commodity on Monday sold between N170 per liter and N250 per liter in Lagos. while other states, like Rivers State, were sold between 300 and 350. Endless queues kept increasing all around Nigeria as fuel scarcity kept worsening which has caused intense traffic in major cities such as Lagos and Port Harcourt and has left Nigerians stranded on the road. It has also led to a thriving market for black market traders, who have continued to make excess profits from the situation. The high cost of transportation and the hike in the price of goods has made the cost of living high for Nigerians.

AlsoRead

Federal Government Allots N6.69 Billion in September Savings Bonds

Federal Government Seeks Fresh $1.5 Billion in World Bank Financing

FG and CBN Sign Six-Point Agreement to Curb Inflation and Stabilise Fuel Prices

The Punch Newspaper quoted the Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Abuja-Suleja zone, Mohammed Shuaibu, as having said that the hike in prices is a result of the scarcity. He said that if fuel is in surplus at stations, the price would be forced to go down.

The country’s general elections are scheduled to take place in the next 35 days. Nigerians have grown increasingly concerned about the effect of fuel scarcity on the general election if it is not treated with immediate effect.
A survey by RateCaptain showed that Nigerians are worried about what the situation will look like in the coming weeks, especially during the general election.

Ebuka, who resides in Lagos State, told RateCaptain that the cost of transportation from where he registered to vote is double the price due to the fuel scarcity, and he is not sure if he will have the money to pay for transport in order to cast his vote. He said, “I pray that the fuel will be circulated before the start of the general election so that I can go back to my hometown to cast my vote.”

“This experience is too harsh on us. “Nigerians are suffering; I am not even thinking about the general election right now; I am thinking on how to survive and feed my family,” a trader at the boundary market in Lagos called Mrs. Bolu told RateCaptain.
Residents in Port Harcourt, River States’ capital, are furious about the situation caused by fuel scarcity.

Mr. Valentine Nyaira informs RateCaptain that the cost of transportation has increased, causing the price of goods to rise. His exact words were, “I barely feed myself and my family because of the increase in the price of foodstuffs. Even on election day, I will have to go to work because if I don’t work, I won’t eat.”

Mr. Chibuike, an intra-state transporter, told RateCaptain that he had been out of business for a week due to the lack of fuel and could barely feed himself. He also said that he would make sure he cast his vote so that a better Nigeria could be achieved.

As the fuel scarcity stills persist, Nigerians are still hoping it will come to an end.

Previous Post

The CBN governor, Godwin Emefiele probed for terrorism financing.

Next Post

CBN launches cash swap programme across the nation.

Related News

DMO’s campaign boosting investment in securities – stockbroker

Federal Government Allots N6.69 Billion in September Savings Bonds

by Stephen Akudike
September 28, 2026
0

The Federal Government, through the Debt Management Office, has allotted a total of N6.69 billion to domestic investors under the...

World Bank Emphasizes Cash Transfers to Break Poverty Cycle in Nigeria

Federal Government Seeks Fresh $1.5 Billion in World Bank Financing

by Akpan Edidong
September 28, 2026
0

The Federal Government has begun talks with the World Bank for three new loans amounting to $1.5 billion, even as...

South Africa Poised to Surpass Nigeria as Africa’s Largest Economy

FG and CBN Sign Six-Point Agreement to Curb Inflation and Stabilise Fuel Prices

by Jide Omodele
September 24, 2026
0

The Federal Ministry of Finance and the Central Bank of Nigeria have formalised a Memorandum of Understanding that sets out...

Naira depreciates to N755/$ in the parallel market.

Foreign Exchange Supply Rises 20.5% to $8.94 Billion in 2025, CBN Data Show

by Stephen Akudike
September 22, 2026
0

Nigeria’s foreign exchange supply increased by 20.5 per cent to $8.94 billion in 2025 from $7.43 billion in 2024, according...

Next Post
CBN rolls out guidelines on legal structures to banks and other financial institutions

CBN launches cash swap programme across the nation.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

DMO’s campaign boosting investment in securities – stockbroker

Federal Government Allots N6.69 Billion in September Savings Bonds

September 28, 2026
World Bank Emphasizes Cash Transfers to Break Poverty Cycle in Nigeria

Federal Government Seeks Fresh $1.5 Billion in World Bank Financing

September 28, 2026

Popular Story

  • DMO Announces Subscription Offering for Federal Government Savings Bonds.

    CBN Prepares for N8.57 Trillion Liquidity Influx as OMO and Bond Maturities Hit Banks

    0 shares
    Share 0 Tweet 0
  • NFEM Turnover Drops 17.7% to $2.25 Billion as CBN Lowers Benchmark Rate to 23%

    0 shares
    Share 0 Tweet 0
  • Federal Government Allots N6.69 Billion in September Savings Bonds

    0 shares
    Share 0 Tweet 0
  • Federal Government Seeks Fresh $1.5 Billion in World Bank Financing

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>