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The economy of Nigeria today runs and survives on oil revenues. Certainly, any crisis in the oil sector, particularly the most commonly experienced i.e. fuel crisis is consequently a crisis of the Nigerian economy. Therefore, a study on the political economy of fuel crisis is integral and significant to the political economy development of Nigeria. The central objective of this study was to examine how manipulation of a few and their quest to control and organise the factors of production and the economy has resulted in the pervasive fuel crises situation and the bearing this has on the economy of Nigeria and on Nigerians. The Elite Theory was employed as a framework of analysis. The primary and secondary methods of data collection were used. Using tables and the Chi square formula, data were presented and hypotheses tested. The research found out that the activities of the elites and oil cabal contribute to the fuel crisis situation and this has resulted in economic hardship in the FCT. It was recommended that federal government must revisit and regulate the processes of issuing licenses to actors in the oil sector and legalise, encourage, standardise modular refineries in Nigeria.

POLITICAL ECONOMY OF FUEL CRISES IN NIGERIA: A CASE STUDY OF THE FEDERAL CAPITAL TERRITORY (F.C.T.) 2007-2017