Fuel Scarcity Hits Nigeria As Petrol Sells Above N700/Per Liter In Lagos, Abuja

The fuel scarcity in Lagos, Ogun State, Abuja, and some other parts of Nigeria worsened over the weekend.

This is despite assurances from the Nigeria National Petroleum Corporation (NNPC) Limited that the issues have been resolved.

Last week, NNPC spokesperson, Olufemi Soneye claimed that all factors contributing to the fuel scarcity had been addressed, with excess supply of petrol nationwide.

However, on Monday morning, petrol stations in Lagos are selling fuel at high prices ranging from N850 to N900 per liter in areas like Maryland, Ikeja, Agege, and Iyana Ipaja.

In Abuja, long queues were observed at filling stations along Abuja Airport Road, Lugbe, and Nasarawa-Abuja Road, with black market vendors capitalizing on the situation, selling fuel to desperate motorists for as high as N1,500 per liter.

Furthermore, many filling stations have either shut down entirely or are refusing to serve individual customers, compounding the challenges faced by consumers seeking fuel in areas such as Agege, Ikeja, Ogba, and Ikotun in Lagos.

The few operational stations are selling fuel at inflated prices, reaching up to N850 to N900 per liter, reflecting the heightened demand amidst the scarcity.

The escalating demand has led to extensive queues in various parts of Lagos and neighboring states like Ikorodu, Sango, and Mowe in Ogun State, where motorists endure prolonged waits.

Commuters in Lagos have been affected by the scarcity, with transportation costs surging, and motorists and motorcycle riders doubling their fares in areas like Ogba, Ikotun, and Berger.

Speculations abound regarding an impending increase in the price of Premium Motor Spirit (PMS), leading to excessive hoarding and panic buying.

Experts attribute the fuel scarcity to discrepancies in delivery prices between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Major Oil Marketers Associations of Nigeria (MOMAN), exacerbated by the federal government’s price cap.

IPMAN has indicated that the scarcity may persist for another two weeks due to challenges sourcing petroleum products, with most refineries in Europe undergoing maintenance.

NNPC, on the other hand, attributes the scarcity to logistical issues impacting distribution, which they claim have been resolved. Despite these assurances, fuel scarcity persists nationwide.

Efforts to reach NNPC spokesperson Olufemi Soneye for clarification on the issue were unsuccessful at the time of this report.

KanyiDaily recalls that the Nigerian Association of Road Transport Owners (NARTO) suspended its nationwide services on Monday, citing economic hardship due to high operational expenses and low freight rates.