Petrol on the black market sells for between N150 and N200 per litre in parts of Lagos, Abuja and other cities

Petrol on the black market sells for between N150 and N200 per litre in parts of Lagos, Abuja and other cities

Unfortunately, as the scarcity of petrol continues throughout the country, unlawful hawkers of the commodity on the black markets resurfaced most especially in Lagos, Abuja and various other cities, offering the product for between N120 and N200 per litre to desperate commercial drivers and other private individuals.

The official pump costs of petrol are N86 and N86.50 for each litre at the Nigerian National Petroleum Corporation’s loading terminals and those belonging to independent marketers, specifically. This is coming as the NNPC announced that it had secured the commitment of the Major Oil Marketers Association of Nigeria to put an end to the latest fuel situation, which started recently.

The marketers claimed they had yet to obtain supply of the 180 million litres of petrol that the NNPC declared to have actually delivered as part of steps to reduce the shortage. In Lagos, the product was sold on the black market for between N150 and N200 per litre, depending on the location. For example, a taxicab operator, Patrick Omoregie, stated he acquired a five-litre keg of petrol at Oshodi for N750. The petrol hawkers at Gbagada, near the Mobil filling station, and those at Palmgrove and Fadeyi on Ikorodu Road, offered to market 10 litres of the item for N2,000.

Among our correspondents likewise noted that black market hawkers in Abuja, Nasarawa and Kaduna were offering petrol on the major roads. They marketed the product in jerry cans to the interested motorists that can afford the cost. The prices ranged from N1,200 to N1,500 for 10 litres of petrol.

Numerous petrol stations owned by independent marketers in Lagos and Abuja were closed on Monday, as they asserted not to have the item to dispense. The marketers claimed their lack of ability to source sufficient forex from the banks was hindering fuel importation by them.

Endless queues of determined vehicle drivers grew longer at the few filling stations that had petrol to dispense than what was witnessed on Sunday. And for petrol stations situated along significant dual-carriageways, the queues spilled to the highways, triggering significant traffic snarls.The MRS, Mobil, Oando, Total and Conoil loading stations from the Alapere end of the Third Mainland Bridge to the Berger end of the Lagos-Ibadan Freeway were dispensing the product, but the lines up expanded to the roadways and affected the movement of various other drivers. Motorists like Evangelist Okon Ifeanyi, Desmond Ikeke, Yahaya Musiliu and Gloria Nwosu that talked with among our contributors in Lagos, stated they invested between two and 3 hours at filling stations before they might obtain the fuel.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, said in a telephone interview with among our reporters on Monday that the supply of petrol to members of the body had not improved. “The status quo continues to be. There is no petrol. Where are the cargos they brought and which depots are the product released into? Let them pump it out. Allow us wait and see the petrol that they said they brought,” he said.

The Chairman, Nigeria Union of Petroleum and Natural Gas Workers, Lagos Area, Alhaji Tokunbo Korodo, said, “Since Thursday, the Ibadan, Ejigbo and Mosimi depots have actually not been loading. They are just allocating the product. Where is the fuel? “With the way the situation is going, if it is not quickly managed, it will certainly trigger a significant crisis.”.

The Executive Secretary, Depot and Petroleum Products Marketers Association, Mr. Olufemi Adewole, stated, “The Pipelines and Product Marketing Company is importing 78 per cent of the total consumption and its managing director has said it publicly that they are working seriously to bridge the gap. All of us are waiting for them.”. He added that the major marketers and DAPPMA members were provided only 22 per cent, including, “DAPPMA was importing 55 per-cent before. Currently, our share has actually been reduced to less than 10 per cent.”.

The NNPC, nonetheless, stated in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, that it had actually boosted its collaboration with MOMAN and other downstream industry players to end the fuel queues. It mentioned that it had actually protected the dedication of the leadership of MOMAN and provided a guarantee that the queue would certainly disappear in the days ahead as products had been increase.

Base on the NNPC submission, the ‘truck-out’ to filling up stations in the Lagos area has been increased from the normal 245 to 295 trucks each day (9.7 million litres), while the supply from the Suleja depot to Abuja has is currently 210 vehicles daily (6.9 million litres) from the previous 160 vehicles. The corporation included that comparable boosts had actually been performed in Port Harcourt, Calabar, Kano and Kaduna. “Within the last Two Days, we have gotten 6 freights of petrol (270 million litres), and beginning from March 1, 2016 (today), we will begin to obtain one cargo of petrol every day (45 million litres).”