Following the decision of several petroleum marketers to close their operations, long lines have formed at petrol stations in various sections of Lagos state, in south-west Nigeria.
On Tuesday morning, the lines that had formed on Monday remained, triggering panic fuel purchases and black market transactions.
Some members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) say they can no longer operate in such an unfriendly atmosphere.
While the government set a price of 165 naira ($0.40; £0.30) for a litre of petrol, the association’s chairman, Akin Akinrinade, told journalists that present reality revealed that the minimum price for profitably selling the commodity should be 180 naira.
Another reason for the discontinuation of services, he said, was the expensive expense of shipping the goods and the diesel required to run the gas stations.
Lagosians’ misery had been aggravated by this event. The city’s notorious traffic bottlenecks have been exacerbated by the long fuel lines.
The cost of transportation has also increased by a factor of two, and most businesses have closed due to a lack of gasoline to run their generators. Because electricity supplies in Nigeria is inconsistent, many Nigerians rely on generators for power.