Petrol marketers threatening shutdown again, abeg who is surprised?
4 months ago
So petrol marketers are saying they will shut down if the price reduction continues. I saw the video of the analyst explaining why things are not moving fast. Honestly, the numbers say something else entirely.
Let me break it down. The cost of landing petrol in Nigeria has dropped globally, but the landing cost here still includes demurrage, storage, and the usual inefficiencies. The marketers are crying because their margins are shrinking. But here is the thing, if they shut down, the black market will boom and we all know who benefits from that chaos.
Lagos is a special kind of chaos. We have fuel price going down on paper but the pump price is still high because the middlemen are not ready to let go. My guy told me his neighbor already bought 50 litres from a black market dealer yesterday. Na wa. The system is designed to frustrate us.
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