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Fuel prices climb to N1,300 per liter as depots run dry.

By: Adisa Deborah

The Nigerian National Petroleum Company Limited (NNPC) strives to tackle fuel supply and distribution concerns in Lagos, Ogun, and other states nationwide. Long lines have formed at fuel stations in Abuja and Lagos, with black marketers charging N1,300 per liter and N1,500 per liter in portions of Lagos and Ogun states. The company is working with stakeholders to restore normal operations.

 

According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), Apapa depots are running low on fuel, with most depots barren. Due to the shortfall, black marketers have raised petrol prices to N1,200/liter, depending on the purchase region. The IPMAN’s National Vice President, Hammed Fashola, expressed concern about the issue and guaranteed that the NNPC would take appropriate action. He anticipates the situation will improve within a week, but the shortfall has resulted in lines at Apapa depots.

 

The Major Energies Marketers Association of Nigeria (MEMA) is experiencing gasoline scarcity as a result of a lack of direct supply from the National Petroleum Corporation (NNPC).

 

 Marketers continue to acquire PMS from private depots at costs higher than N700/liter, requiring them to rely on third-party private depot operators. Clement Isong, Executive Secretary of the MEMA, verified the low stock but could not forecast when it would improve. The NNPC is the sole provider, and the scenario is resulting in huge waits for vehicles. Bus driver Elijah Sunday expressed dissatisfaction with the difficulty of obtaining PMS, citing fuel scarcity and rising prices. Fuel lineups have been noticed at several stations, including PM Petroleum and NNPC.

 

Black marketers in Ogun State are selling fuel at inflated prices, resulting in long lines at petrol outlets such as Petrocam and NNPC.

 

 Residents of Ipokia, a border hamlet in Ogun State, are increasingly patronizing these marketers as a result of the fuel supply ban in border zones. Many filling stations in Ogun State’s capital, Benin City, and Gombe offer petrol at inflated prices, as do black marketers in northern Nigeria. This circumstance emphasizes the necessity for a more efficient fuel supply, as well as consumers’ awareness of potential scams and rates given by black marketers.

 

Motorists in Jos, the Plateau State capital, have expressed concern about gasoline scarcity and high pricing, which have exacerbated economic hardship. Black marketers in sections of Jos sold fuel for N1,300 per liter, causing long lines and irritation for drivers like Philip Gyang. Margaret John, Jo’s native, also raised concern that scarcity is raising the cost of life in her state. Car owners in Minna, Niger State, have abandoned their vehicles owing to fuel scarcity and increasing prices. Queues have resurfaced in Katsina and Taraba states, with driver Mallam Abdulrazakk waiting for fuel at the Abukur NNPC mega station. Black marketers in Yola offered PMS for N1,000 to N1,200.

 

“At the black market we buy between N1,000 and N1,200 per liter, so, we need to jack up the fare to enable us to stay in business,” a commercial bus driver told me.