See how much Nigerians are buying fuel at filling stations, black market

2 months ago 6

Fuel prices at filling stations in Abuja and other Nigerian cities have surged to a new high amid fuel scarcity
Nigerians have expressed their disappointment as transporters passes the cost of petrol price to passengers
NNPC has assured that there is availability of the product and has made moves to solve the logistic challenges

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigerians are expressing outrage as the price of petrol soared in Abuja and other parts of the country.

Nigerians have voiced their frustrations, describing the price hike as unbearable as it has escalated their cost of living.

Punch reports that filling stations have increased the pump price of petrol to N900/litre, particularly in Abuja, Nasarawa and Niger.

Nigerians who cannot stay and wait in the long queues at the filling stations are forced to approach black markets, which have seized the opportunity to charge between N1,000 and N1,100 per litre.

How Nigerians are reacting to the fuel queues?

@Muyieto wrote:

"The good people of Nigeria... I Hail una... 900 per litre.. kudos... we are good people that don't like problems at all.. let's enjoy the meal."

@ConcernedIgbos1 said:

"Each time fuel is scarce, Nigerian fuel stations open only one pump to subject buyers to punishment. When fuel is not scarce, they open all the pumps."

@HauwaAllahbura added:

"Bring back any type of fuel subsidy. People are suffering."

@chuksmans noted:

"We don’t even know who is responsible right now—is it the government or the marketers? It is very unfortunate that they are just passing the buck."Regardless, urgent action should be taken to address this dire situation that is jeopardizing socio-economic activities in the country."

Why there is fuel scarcity?

In response, Legit.ng reported that the Nigerian National Petroleum Company Limited, on Monday, July 8, explained that the queues were due to the recent thunderstorm and challenges of logistics that disrupted activities at fuel-loading jetties.

The oil company promised that it is working with stakeholders to resolve the situation and clear the queues.

NNPC speaks on forcing customers to buy lubricants

Legit.ng also previously reported that the NNPC said Nigerians were not required to buy lubricants or engines as a condition for purchasing or dispensing fuel at its retail stations.

The NNPC also said it did not ask any of its attendants to demand from users to buy lubricants or engine oil as a condition for purchasing fuel.

NNPC’s chief corporate communications officer, Olufemi Soneye, disclosed this in a statement on Sunday, June 30, 2024.

Source: Legit.ng

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