Fuel scarcity is a critical challenge in many developing economies, most particularly in Nigeria, where it persists despite the country’s status as a major crude oil producer. This phenomenon is characterized by the insufficient supply of petroleum products to meet demand, therefore leading to widespread economic and social disruptions. Some of the causes of fuel scarcity also depends on inadequate refining capacity, heavy dependence on fuel imports, foreign exchange constraints, infrastructural deficiencies, policy inconsistencies, and systemic corruption within the distribution system. There are as well the far-reaching effects of fuel shortages, like inflation, increased transportation costs, reduced industrial productivity, cum the decline in the general standard of living of the people. The paper delves into discussing on the causes, challenges, and probable sustainable solutions to mitigate the recurring nature of fuel scarcity in developing countries like Nigeria.
Fuel scarcity, developing countries, Nigeria, fuel imports, refineries, systemic corruption, inflation, hike in transportation costs, reduced industrial productivity, standard of living/poverty, infrastructural deficiencies, foreign exchange.
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