So after last week's glut of fuel on the Lagos market (left over from scarcity the previous week), we're now in the same position as the rest of the country with scarcity beginning to hit us hard.

Apparently the issue is all to do with the lack of information from the government on reforms in the downstream oil and gas sector, and removal of the fuel subsidy. As a result the importers are importing only trickles meaning that the country is left with NNPC's supply only, couple this with a broken refinery and the country is short by about 20 million liters of fuel a day.

Personally I think the importers are idiots, even if the subsidy is removed they will then be able to sell at whatever price they want to (that's the whole point!) so if it's greed or a worry about losing money that is driving them then all they have to do is think about it and start pouring the fuel into the country. The real issue I suspect is around maintaing the status quo, the current system works for them and requires no effort so why  change it.