Fuel Price Hits N850 Per Litre, Nigerians react

VOICE AIR MEDIA, News Update

Amid heavy gridlock, motorists and commuters in Lagos have lamented over the sudden scarcity of Premium Motor Spirit, PMS, popularly called petrol, forcing an increase in transport fares by commercial bus drivers, the “Danfos and Koropes,” within the city.

Consequently, fuel queues have resurfaced with most filling stations shut as motorists struggle with the skyrocketing fuel prices.

This is coming barely six days to the
commencement of planned nationwide protest over economic challenges.

By last Friday, fuel queues had started to get longer within the metropolis, with few fuel stations dispensing.

Besides Nigeria National Petroleum Corporation, NNPC fuel stations sell at N650 per litre, and other independent marketers, sell between N850 to N950 per litre.

It was discovered that many filling stations which seemed to have run out of stocks, were seen under lock and key, shutting their gates against motorists and other users of petroleum products.

With those stations selling the product to buyers, there were long queues as panic buying continued. This resulted in gridlock along the roads where stations were dispensing.

Men of the Lagos State Emergency Management Authorities, LASTMA, seemed overwhelmed as they could not effectively contain the high influx of motorists searching for the product.

As a result, black marketers have taken advantage of the situation, selling the product to desperate motorists at exorbitant rates of up to ₦1000 to ₦1400 per litre.

Black market dealers were seen hawking the product at Egbeda, Ikotun, LASU-Iba Road, Ikeja, and Agege, among others.

A Danfo driver, Mr.Jude Akpan, who spoke to Vanguard, lamented that he spends twice on fuel to fill his vehicle for one trip so he has passed the cost onto passengers.

“I bought N850 per litre from a filling station this morning after several hours in the long queue.

“I bought 20 litres for N17,000, which can hardly take me two trips from Ikotun to Oshodi.”

Investigation showed that at Ikotun to Egbeda, which used to be N200, is now N500, while Iyana-Ipaja is N700, depending on the bargaining power of passengers.

Also, vehicle owners and other petrol users lamented the situation, saying it could be more harsh on the economy in the coming weeks if authorities did not address the cause of the shortage.

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