ABUJA  – The recent fuel shortages plaguing Nigeria have not only disrupted daily life but have also posed significant challenges to businesses across the country, according to findings by the Abuja Chamber of Commerce and Industry (ACCI). 

The Chamber raised the concerns about the adverse effects of these shortages on business operations, emphasizing the urgent need for the Federal Government to intervene and resolve the issue promptly. 

In a statement released by ACCI President, Emeka Obegolu, the detrimental impact of the fuel shortages on the business community was highlighted. Obegolu pointed out that the scarcity has provided an opportunity for unscrupulous individuals to exploit the situation by inflating fuel prices, thereby escalating transportation and logistics costs. 

Despite the grim situation, there is a glimmer of hope on the horizon with the imminent commencement of operations at the Dangote refinery and other upcoming refineries, ACCI noted. This development is expected to break the cycle of fuel scarcity in the country, fostering self-reliance and reducing dependence on imported fuel. 

The repercussions of the fuel shortages extend beyond mere inconvenience, as businesses grapple with heightened expenses and operational challenges. The resulting increase in transaction costs and hindered movement of goods is impeding the ease of conducting business activities in Nigeria. 

Obegolu stressed the necessity for the government to address the underlying causes of the fuel scarcity as a top priority. He called upon the Nigeria National Petroleum Commission Limited (NNPCL) to expedite the distribution of petroleum products nationwide, emphasizing the importance of ensuring product availability to alleviate the hardships faced by Nigerians. 

Despite assurances from NNPCL that the fuel scarcity would be resolved promptly, reports indicate that long queues persist at petrol stations in various regions, with exorbitant prices being charged by some fuel stations and black market vendors. The situation has reached a critical point, with Nigerians enduring significant challenges in accessing affordable fuel for their daily needs. 

As the leading voice of the private sector in the Federal Capital Territory, ACCI remains committed to advocating for policies and interventions that support business growth and development. The organization stands ready to collaborate with relevant stakeholders to address the fuel shortage crisis and mitigate its adverse effects on businesses and the economy at large. 

The call by the Abuja chamber coincides with other calls for urgent and decisive action to alleviate the current fuel shortages and restore normalcy to business operations in Nigeria. 

ACCI believes that government, in collaboration with industry stakeholders, must work towards sustainable solutions that ensure the availability of petroleum products and promote a conducive environment for businesses to thrive.