Fuel Scarcity in Nigeria Hurting Small Business Owners

Nigeria, Africa’s largest oil producer is once again being hit by recurrent fuel scarcity issues – and it’s hurting small businesses.

Millions of people are spending hours daily in queues jostling for the meagre fuel in circulation across the country. The importation of millions of litres of adulterated fuel into Nigeria, as claimed by the Nigerian National Petroleum Corporation, has disrupted the fuel supply.

The ripple effect of the scarcity is affecting many who run small businesses and support their families, especially those who work as hairdressers, tailors or own provision and cold food stores, reports Aljazeera.

For decades the Nigerian government has, without providing straightforward reasons, imported petroleum products despite being one of the biggest producers of crude oil globally. The country produces about 2.4 million barrels oil but imports over 70% of its petrol.

Africa’s richest man Aliko Dangote has been working on what is billed as the largest single-train refinery in the world, with a projected output of 650,000 barrels per day. Upon completion later this year or in early 2023  if plans remain on schedule – it will provide a strong domestic option for refining petroleum products for Nigeria’s use.