Home Entertainment Fuel Scarcity Returns To Lagos, Abuja, Marketers Blame Forex Scarcity
Entertainment - News - October 19, 2023

Fuel Scarcity Returns To Lagos, Abuja, Marketers Blame Forex Scarcity

BREAKING: Queues Resurface In Abuja, Northern State Still Sells Fuel At N550

Fuel queues have reportedly returned to some parts of Abuja and Lagos State, as more filling stations shut down due to unavailability or hoarding of the product.

Marketers have, however, blamed the return of fuel queues and scarcity on the forex crisis, and bad roads, which have affected the movement of fuel to certain parts of the country.

Naija News learned that while some filling stations were shut down, the few opened ones had few attendance and had adjusted their pump prices to above N600.

According to Daily Trust, along the Kubwa Expressway in Abuja, the Eterna Filling Station, though with a few attendants around, did not sell the product, same at Gegu Oil Station on the same expressway.

At the Aso Energy Resources Station at Kubwa Phase 2, a lengthy queue was sighted, with only one functional pump as petrol was sold for N630. Also, Conoil, opposite the NNPC towers in Central Area, Abuja, was opened and sold the product for N623 per litre.

However, some NNPCL stations at Wuse Zone 6 and Garki Area 10 in Abuja were dispensing at the N617 official price.

In Lagos, where fuel pump price ranges between N568 and N585, it was gathered that the product sold for as much as N650 per litre in some filling stations.

The platform notes that some filling stations, including some operated by the Nigerian National Petroleum Company Limited, were shut down.

This has led to long queues and a hike in price at the few stations dispensing the product. The petrol price has crossed over N600 at many independent filling stations even as major stations are selling above N568 in the state.

Checks by Daily Trust revealed that NNPC stations at Ikeja, Ifako Ijaiye, Lagos Island, and other areas had stopped dispensing the product, while the few stations dispensing the product had increased their price to between N600 and N650 from the initial rate of between N568 and N585.

Reacting to the issue, the Major Marketers Association of Nigeria (MOMAN) blamed the scarcity on the rise in dollars, bad roads and hoarding of fuel.

The Executive Secretary of MOMAN, Clement Isong, told Daily Trust yesterday that tanker drivers and some dealers no longer find the business attractive because of the problems confronting the sector.

Isong also said that some marketers, in anticipation of a shortage of the product, started to hoard petrol, noting that marketers cannot access dollars from the official window, so they are sourcing for it in the black market.

He said, “The roads from the South to the North are in a terrible state and truck owners have incurred huge financial losses as a result of accidents.

“The dollar has crossed the N1000 threshold, and members can’t get it from the official window. The unstable nature of the naira has continued to add more and more pressure on the business.

“Those who have products have also resulted in hoarding in anticipation that there will be scarcity. This is also one factor.”

Similarly, the leader of the Independent Petroleum Marketers Association (IPMAN), Debo Ahmed, blamed the scarcity on supply disruption.

He noted that the NNPCL remains the sole importer of refined petroleum products, explaining that the only way out is to start local refining.

Ahmed said, “Hopefully, when the Dangote Refinery begins production in December, we will have some respite.”

Another major marketer, who spoke with our correspondent on the condition of anonymity, said: “You know what the dollar is talking about and don’t forget everything we are paying for is in dollars.

“When it is not available, you should know that it is a problem for us as marketers. Thank God you have also highlighted the point here.”

The post Fuel Scarcity Returns To Lagos, Abuja, Marketers Blame Forex Scarcity appeared first on Naija News.

Check Also

‘I Am Aware Nigerians Are Suffering’ – Tinubu Reveals, Discloses Reason For Removing Fuel Subsidy

President Bola Tinubu has defended the decision of his administration to end the fuel subs…