Fuel sells above N1,000/litre in Lagos

…Independent marketers give updates 


CITIZENS COMPASS –Premium Motor Spirit (PMS) otherwise known as petrol is currently selling between N1,000 and N1,400 per litre in some parts of Lagos State.

As at Sunday, April 28, 2024, some transporters were seen lamenting the situation just as many motorists were completely off the road due to the scarcity of the product.

Being a Sunday, the scarcity forced many intending worshippers to be stranded at major bus stops.

Some transporters who spoke with our Correspondents lamented their bitter experience as many gas stations did not dispense the product.

They said that black marketers had their field days while many buyers were seen going about in gallons.

At some of the locations monitored by Citizens Compass, the product was being sold at exorbitant prices.

In Ikorodu, a transporter, Hakeem Olakunle lamented how he bought four litres of the product at N5,000 while at Iworo-Ajindo in Badagry, another transporter said he bought the product at N1,000 per litre under harsh conditions.
In the Abule-Egba area, a tricycle operator said he bought three litres of fuel at N3,600.

Some respondents urged the government at all levels to proffer solutions to the scarcity.

While the scarcity lasts, The Independent Petroleum Marketers Association of Nigeria (IPMAN), said that the scarcity will last for a minimum of two weeks.

This is as the Nigerian National Petroleum Company Limited, (NPCL), on Saturday, said it has adequate stock of the product.

IPMAN spokesman, Chinedu Ukadike, said the product is not available in the country.

He said it has become a bit of a challenge to source the product because most refineries in Europe are undergoing turnaround maintenance.

He disclosed that only 1,050 marketers out of 15,000 have had their licences renewed by NMDPRA.

He said: “The situation is that there is no product. Once there is a lack of supply or inadequate supply, what you will see is scarcity and queues will emerge at filling stations.

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