VOICED: Oil, oil everywhere but no petrol at Nigeria's pumps

The video discusses the severe traffic issues in Lagos, exacerbated by fuel scarcity due to Nigeria's reliance on importing refined petrol despite being a major crude oil producer. The inefficiency of local refineries, affected by power issues and vandalism, forces Nigeria to export crude oil for refining. This dependency on imports makes the country vulnerable to private companies' demands. The government plans to remove petrol subsidies, allowing market competition, which may initially harm consumers but could benefit the industry long-term. The uncertainty of when a freer market will improve petrol supply leaves drivers frustrated.

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