Fuel Price Hits N1,300/Litre Amid Depot Shortages

Numerous depots for Premium Motor Spirit (PMS), commonly known as petrol, are currently dry, causing fuel scarcity and long queues in Lagos, Ogun, parts of Abuja, Niger, and other states across Nigeria.

NIGERIA NEWS 247 reports that black marketers are exploiting the situation, selling petrol at exorbitant prices of N1,300 to N1,500 per litre in Lagos and Ogun states.

Long queues began forming at fuel stations in Abuja and Lagos on Friday and have continued unabated.

On Saturday, the Nigerian National Petroleum Company Limited (NNPC) attributed the fuel supply and distribution issues to a hitch in the discharge operations of a couple of vessels.

“The tightness in fuel supply and distribution in some parts of Lagos and the FCT is due to a hitch in the discharge operations of a couple of vessels,” said Olufemi Soneye, NNPC’s Chief Corporate Communications Officer.

Despite NNPC’s assurances of working round the clock with stakeholders to resolve the situation, the scarcity worsened. Nationwide checks on Sunday revealed long queues at numerous filling stations in major cities.

No Loading at Apapa

Sources revealed that there was no truck loading at the Apapa depots on Sunday. A depot operator confirmed that almost all depots were dry, with the little available fuel supplied on Saturday.

In Abuja, fuel prices ranged from N660 to N800 per litre at the few operating stations, while black marketers hiked prices to N1,200 per litre, depending on the area.

Oil marketers expressed surprise at the shortage, pointing to NNPC’s statement on Saturday as the cause. Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria, expressed hope that the situation would normalize within the week.

Fashola noted that marketers were forced to buy PMS at prices above N700 per litre from private depots due to limited direct supply from NNPC.

“There is something fundamentally wrong with our distribution channel, and until it is corrected, we will continue to have fuel scarcity,” he said.

Clement Isong, Executive Secretary of the Major Oil Marketers Association of Nigeria, confirmed the low stock situation and emphasized that only NNPC could determine when normalcy would return.

Dry Depots in Ogun and Lagos

In Lagos and Ogun states, many fuel stations remained closed on Sunday. Black marketers sold petrol at N1,200 to N1,500 per litre. Motorists and residents expressed frustration over the high prices and scarcity.

In Ogun State, residents of border areas like Ipokia reported buying fuel from black marketers at N1,200 per litre due to limited supply and high prices at the few operating stations.

Similar Scenarios Across the South-South and Northern Regions

In Benin City, Edo State, long queues were observed at the NNPC mega station and other fuel stations where petrol was sold for between N750 and N800 per litre.

In Gombe, fuel prices ranged from N850 to N1,000 at major stations, while black marketers sold at N1,250 per litre.

Jos and other parts of Plateau State witnessed long queues and high prices, with black marketers selling at N1,300 per litre. Motorists lamented the impact on the already challenging economic conditions.

In Minna, Niger State, some car owners abandoned their vehicles due to the high cost and scarcity of fuel, resorting to motorcycles for transportation.

Katsina and Taraba states also experienced long queues and high prices, with motorists spending hours at fuel stations without success.

In Yola, Adamawa State, black marketers sold PMS for N1,000 to N1,200 per litre, leading to increased transportation fares.

The NNPC has yet to respond to inquiries on when the fuel supply situation will improve.