Fuel scarcity looms as Russia halts petrol export to Nigeria, others
By Tunde Opalana
Nigeria faces potential fuel scarcity in the months ahead as Russia has announced a six-month ban on petrol exports starting March 1. Nigeria is one of the major importers of petrol from Russia.
The ban, aimed at meeting domestic fuel demands, may pose significant challenges to countries like Nigeria and others that rely on Russian petrol.
According to foreign media reports, Russia, the world’s third-largest oil producer, has been grappling with sporadic fuel shortages since last summer due to high demand and refinery maintenance.
In 2023 alone, Russia produced 43.9 million tonnes of petrol, with approximately 5.76 million tonnes destined for export, representing about 13 per cent of its total domestic production.
READ ALSO: Clara Kronborg set for longest interviewing marathon
Nigeria, a significant importer of Russian petrol, witnessed an 84 per cent surge in imports within a year, reaching 3.8 million litres (24,000 barrels) in 2023. This increase highlights the country’s vulnerability to disruptions in Russian petrol supply.
The Russian government, facing embargoes from major Western powers due to the Ukraine conflict, cited the need to ensure a stable fuel market during peak demand periods, including spring agricultural activities and refinery maintenance.
The move aligns with Russia’s efforts to maintain internal stability ahead of upcoming elections, underscoring President Vladimir Putin’s determination to avoid fuel shortages that could impact public sentiment.
Last year’s ban on diesel and petrol exports already demonstrated the severe consequences, with certain regions experiencing fuel shortages.
The development hindered agricultural activities like grain harvesting. As the ban takes effect, countries like Nigeria must explore alternative strategies to mitigate potential fuel supply disruptions.
