Nigerians are grappling with worsening economic hardship as petrol pump prices surge toward N1,000 per litre, exacerbating an already dire fuel scarcity across the country.
In various parts of the Federal Capital Territory (FCT) and numerous states, petrol is being sold at unprecedented rates, with some areas witnessing prices as high as N1,000 per litre. This steep increase has triggered long queues at filling stations, further intensifying the crisis.
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the severe shortage to a lack of direct supply from the Nigerian National Petroleum Company Limited (NNPCL). As a result, many filling stations, especially in the satellite towns of the FCT, have shut down, while those that remain operational are selling fuel at exorbitant prices.
In Abuja, numerous stations were closed, leading to long queues at NNPCL outlets, where petrol was available at N617 per litre. The situation is so dire that some motorists spend the night in line, hoping to secure fuel.
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The situation in Lagos mirrors the capital’s struggles, with prices at NNPCL stations around N568 per litre, while other outlets sell petrol for between N600 and N650 per litre. Transporters have voiced concerns over the price hikes, which are severely impacting their operations.
In Kano, the situation is equally grim, with motorists paying up to N950 per litre at independent oil marketers’ stations. In contrast, NNPCL stations offer fuel at N620 per litre, prompting many drivers to queue at the latter to avoid paying the inflated prices elsewhere.
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In Maiduguri, most NNPCL filling stations have shut down, leaving motorists with no choice but to purchase petrol from independent marketers at significantly higher rates.
Akin Akinade, a former IPMAN chairman in Lagos, revealed that marketers are buying fuel at N840 to N850 per litre from third parties, forcing retail prices to soar above N900.
Despite the escalating crisis, the NNPCL has remained silent, offering no official comment on the situation. As the fuel crisis drags on, Nigerians continue to bear the brunt of the escalating costs, with no resolution in sight.
