In 2022, the African continent experienced the worst refined fuel supply crisis in the past 40 years. Although Nigeria is a major oil producer, it lacks the capacity to refine this raw material, so the country is forced to import it.
One day after Nigerian President Bola Tinubu announced the end of fuel subsidies in his inauguration speech, most fuel stations closed.
According to international press reports, on Tuesday, there were long queues of drivers at gas stations, waiting to fill up their tanks before the price increase.
