Fuel Scarcity: Three Reasons Why Is Not Stopping Anytime Soon!


The fuel scarcity currently being witnessed might not improve any time soon.

An industry source who spoke to The Cable, claims that these are the three reasons why you will keep queuing for fuel:

1. Banks have become hesitant to finance imports of petrol and kerosene and have now tagged the transactions as a “political risk”.

2. Recent payments to marketers were sourced from a loan taken by the federal government, a development that effectively shook the confidence of the financial system on the immediate future of subsidy in the country.

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3. Most oil marketers have decided against importing fuel until the incoming government of President-elect, Muhammadu Buhari settles in and defines its direction on the deregulation of the downstream sector.

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