Chief Executive Officer of Seplat Petroleum Development Co Plc, Austin Avuru has predicted that Nigeria would be hit by another fuel scarcity in three weeks as the federal government doesn’t have enough money to pay for gasoline subsidies.
Avuru said this at a Bloomberg Conference held at the Nigerian Stock Exchange. He said “In three weeks we will be back to scarcity because we simply don’t have the money to pay for the subsidy.”
Last month, Nigeria faced one of the worst fuel scarcities in its history as businesses, Radio Stations and Telecommunication service providers were greatly affected.
The Fuel Crisis was caused by the Federal Government’s inability to pay Oil Marketers who then decided to go on strike. Eventually they called off the strike when the National Assembly intervened.