Fuel Crisis: How marketers, black market sellers increased price to 250 per litre
– Checks revealed that the product is selling almost double the regulated price in most parts of Lagos and Ogun states
– Black market in Lagos sells 5 litres for N1,500 while in Abuja, 10 litres of the product was sold for N4,000 by hawkers
Nigerians waiting to buy fuel which is now as high as N250
The current fuel crisis rocking the nation has created avenue for some person to rake in millions and thousands as the case maybe.
While the country’s junior minister for petroleum and managing director of Nigerian National Petroleum Corporation, Ibe Kachukwu had said he is not a magician and cannot find a quick end to the scarcity, fuel marketers and black market sellers have increased price to as high as N250 per litre above the official N86.50 per litre.
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Observations by Naij.com reporters revealed that the product is selling almost double the regulated price in most parts of Lagos and Ogun states.
At World Oil and Ascon filling stations along the Lagos-Ibadan Expressway in Ogun State, the product was sold for N170 and N120, respectively on Wednesday, while many stations in Ota sold it for N140 per litre.
At mobile filling station along Obafemi Awolowo way in Ikeja, hawkers, popularly known as black market sell 5 litres for N1,500 while in Abuja, 10 litres of the product was sold for N4,000 by hawkers.
In Port Hacourt, Rivers state, most filling stations now sell the product between N150 and N180 per litre while in Minna, Niger State, the few filling stations selling PMS sell for N180 per litre.
Petrol is now sold for between N160 and N170 per litre in Akwa Ibom state just as a litre of petrol now sells for between N150 and N170 in Ilorin, the Kwara State capital. Black market goes for between N250 and N300 per litre in Ilorin.
In Imo, a litre of petrol goes for N150 while the black marketeers were selling it for N300 as the product goes for N180 per litre in Kaduna state.
But the minister for information and culture, Lai Mohammed said immediate measures were being taken to end the fuel scarcity, while medium and long-term solutions were being worked out to prevent a recurrence.
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“Petroleum product supply and distribution have been ramped up across the country by the Nigerian National Petroleum Corporation to ensure product availability in the country, but repeated trips to filling stations and the backlog are making it impossible to immediately feel the impact.
“Monitoring has also been intensified to ensure full compliance with approved prices. Violations of approved prices and hoarding of petroleum products attract severe penalties, including giving out of petroleum products free to the public, sealing off of fuel stations found to be hoarding petroleum products, payment of fine as well as withdrawal of marketer’s license,” he said in a recent press release.
Meanwhile, Nigeria’s main opposition party, the Peoples Democratic Party (PDP) has perfected the plan to produce the replacement for the current Senate President embattled Bukola Saraki should he be removed by the Code of Conduct Tribunal.
Recall that the PDP in a smart deal with Saraki supported him to emerge the Senate president while also producing the deputy senate president.
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