By Oludolapo Ige
Petroleum tanker drivers have resumed strike from directives of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG). This action could lead to an increase in the price of Petrol and diesel.
The impending strike resulted in panic buying across the state. Over the weekend, following the announcement of the coming strike on Friday, many Lagosians rushed to buy as much fuel as they were able to, as no one knows when the strike will come to an end.
The strike in Lagos will likely cause a disruption in the supply chain, possibly causing a fuel scarcity not only in Lagos but across the country. Lagos is by far the most populated state in Nigeria with a population of over 20 million residents and statistics has shown that over 90% of the petroleum products sourced across the country are sourced from Lagos. A scarcity of petroleum products in Lagos will likely result in a scarcity across the country.
As a result, this could lead to an increase in the price of fuel and diesel. Since the COVID 19 pandemic outbreak, the price of crude oil dropped at an alarming rate, causing a fall in the price of petroleum products in the country. The filling stations have openly voiced out their disagreement with the government after the government instructed that petroleum products should be sold at a reduced rate.
Some filling stations have gradually increased their prices over the months since the government imposed the new prices. With the strike and the shortage in supply and high demand, filling stations across the country may use this opportunity to jack up their prices of petroleum products.
NUPENG has said that the strike would not be called off until authorities in the state address the issues that led to this strike. It’s possible that the issues would not be addressed immediately, if so, then the filling stations would only continue to increase the cost of their products.