Fuel Prices Rise 21% To N850 Per Litre As Marketers Shut Stations

Yesterday, the Independent marketers of petrol increased prices by more than 21 per cent to N850 per litre, from about N700 per litre in Lagos and its environs as shortage bits harder.

A survey of the situation in Lagos and environs indicated that many major marketers did not have the product for sale, while the few independent marketers with the product raised prices to the new level, obviously the highest this year.

There were long queues at filling stations of the few NNPC and major marketers, with prices hovering at more than N650 per litre.

However, desperate motorists were seen patronising illegal hawkers, whose prices ranged between N1,000 and N1,500 per litre, at some locations, including Maryland, Egbeda, Ikotun, LASU-Iba road, Ikeja and Agege.

Some customers also complained about other sharp practices, especially pump manipulation as officials of the Nigerian Midstream and Downstream Regulatory Authority, NMDPRA, were not in sight to enforce compliance at the filling stations.

The Chief Executive Officer of NMDPRA, Engr. Farouk Ahmed, could not be reached, but it was confirmed that the personnel were still holding forte at the depots.

In response to the situation, motorists transferred the high cost of fuel in form of high fares to commuters, who paid N1, 500 to travel from Mile 12 to Yaba, yesterday, from N1, 000 the previous day.

A Danfo driver, simply identified as Mr Jude Salami, who spoke to Vanguard, lamented that he spent twice the previous amount to fill his vehicle for one trip and had to pass the cost to commuters.

“I bought petrol at N850 per liter from a filling station this morning (yesterday) after several hours on the queue.  I bought 20 litres for N17, 000, which can hardly take me two trips from Ikotun to Oshodi.”

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

Many commuters were seen stranded at major bus stops, including Oshodi, Mile 12, Mile 2, Obalende and other locations, thus raising fears on what to expect this week.

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.

NNPC Ltd had attributed the shortage to hitches in the discharge operations of a couple of vessels.

Olufemi Soneye, Chief Corporate Communications Officer, said: “The NNPC Ltd wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is a result of a hitch in the discharge operations of a couple of vessels.

“The company further states that it is working round the clock with all stakeholders to resolve the situation and restore normalcy in the operations.”