See how Nigerians are reacting as filling stations adjust petrol pump prices

• Filling stations in Abuja and other Nigerian states have again adjusted prices amid fuel scarcity
• The new fuel prices have left many Nigerians frustrated and also commuters who are forced to pay higher fares by transporters
• The current situation put more pressure on Nigerian households already battling with high cost of living

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.

Filling stations in Abuja, Lagos, and either states have once again adjusted their petrol pump prices upwards amid worsening fuel scarcity that has left motorists and commuters frustrated.

The price hikes, which vary across regions, have added to the growing burden on Nigerians already grappling with the rising cost of living.

Fuel stations have adjusted prices again as scarcity bites Photo credit: Pius Utomi Ekpei
Source: Getty Images

Legit.ng observed that at some filling stations that were open, motorists were buying fuel at prices ranging from N750 per litre to as high as N820 per litre.

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A motorist, John Ekeh, told Legit.ng that he was surprised prices had not come down after almost two weeks.

"The frustration of buying fuel in this country is becoming unbearable. Today it is one price, and two or three days later, the price has changed."

Innocent Ajimobi, another motorist, also added:

"You spend hours in line, and just when you're close to getting fuel, they either run out or announce that they have closed for the day. It's exhausting to suffer like this, even when you have the money."

Daily Trust also reported changes in pump prices at filling stations in the satellite towns of the FCT.

It noted that the product sells for close to N1,000 per litre at some stations belonging to members of the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Why is there fuel scarcity?

Legit.ng reached out to Olufemi Soneye, the spokesman of the Nigerian National Petroleum Company Limited, on Friday, July 16, seeking clarification on the current fuel scarcity and prices at filling stations, as it is the major importer of fuel in Nigeria.

At the time of writing, no response had been provided.

However, in an earlier statement, the NNPC explained that the queues were due to a thunderstorm and logistics challenges that disrupted activities at fuel-loading jetties.

The oil company promised to work with stakeholders to resolve the situation and clear the queues, but the situation at filling stations remains the same after over one month.

Nigerians convert vehicles to use cheaper fuel

Earlier, Legit.ng reported that more Nigerians are turning to Compressed Natural Gas (CNG) to cut fuel expenses, as petrol prices have increased in the past month.

Reports show that some filling stations in certain states ask motorists to pay up to N937 per litre for petrol.

The cheaper fuel alternative, sold at N200, is becoming more attractive to Nigerians.

Source: Legit.ng