STORY: In Nigeria's capital, queues for gasoline snake through the streets.

Fuel shortages have been causing a sharp increase in prices, exacerbating a cost of living crisis.

Some prices in Abuja and Lagos have risen above 850 naira, or about 60 cents, per liter.

That's even though the state-owned oil firm NNPC, which imports the fuel, sells at an average price of 617 naira.

[Businesswoman Seyi Adegbuji, saying:] "I am supposed to be in my office, and I'm not there because I had to come and do this."

Last year, President Bola Tinubu's government removed popular but costly fuel subsidies and allowed private businesses to import.

However, foreign currency shortages and a cap on the price of petrol have meant NNPC remains the sole importer.

Outside one gasoline station in Abuja on Tuesday (April 30), businessman Dan Isa said this isn't what Nigerians voted for.

"The country is bleeding, and you are adding more injuries. I mean, with my money I'm still suffering, sweating. I have other business to attend to, I can't go for it. So, how do I feed my family?"

Oil marketers, who lift fuel from NNPC, have said they're not getting sufficient volumes to distribute around the country and are being told that logistics challenges were hampering supply.

An NNPC spokesperson, however, said the company had more than 1.5 billion liters of petrol - enough to last at least 30 days, and that queues would end within days.

They accused some outlets of taking advantage of this situation to maximize profits.

[Civil servant Simon John, saying:] "I've been here since six o'clock. I've been here since six o'clock. Let the government help. Let them help us please."

The shortage is weighing on an economy already struggling with the highest inflation rate in 28 years.

Analysts say the price of basic food items would see a sharp increase if shortages persist.

This will add to frustrations after the government raised electricity tariffs for some consumers.