Emmanuel Iheanacho, has attributed the persistent scarcity of petrol to monopoly of the product by the Nigerian National Petroleum Corporation (NNPC). Iheanacho said that this was not realistic for marketers to import and sell at that rate. “Shortage of foreign exchange and increase in crude prices have made it unprofitable to import petrol and sell same at N145 per litre. Iheanacho said that the marketers’ huge debts of over N800 billion had also contributed to the inability of marketers to import petrol. In areas like Ikorodu, Epe, Ibeju-Lekki, Oshodi, Ajegunle, Ikotun, Bariga and Sango-Ota, some stations were still selling petrol for between N180 and N200 per litre.

Source: The Guardian December 26, 2017 14:26 UTC