Nigeria: 7-Month Petrol Stock Shortfall Sparks Year-End Supply Concern
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Nigeria's petrol stock cover has stayed below the 30-day safety benchmark for seven months. This trend creates concerns about supply constraints as the year ends. Petroleum marketers are reportedly importing less fuel. This decline is linked to claims that banks are refusing to issue Letters of Credit to importers.
[Leadership] Nigeria's petrol stock cover has remained below the 30-day safety benchmark for seven consecutive months, raising concerns about possible supply constraints towards the end of the year as petroleum marketers reportedly reduce imports amid claims that banks have declined to issue Letters of Credit (LCs) to importers.