Petrol scarcity looms as stations shut down in Lagos, othersPetrol scarcity has returned to Lagos and its environs as numerous oil marketers have closed their outlets over the weekend, causing concerns for motorists and consumers.
The scarcity, which had already been observed in Abuja and its surroundings last week, is now spreading to Lagos and its neighboring areas.
Last week, oil marketers in Abuja attributed the scarcity to poor road conditions and the high cost of diesel for distribution.
However, the situation has since escalated, with both independent and major oil marketers ceasing their operations.
As a result, only the Nigerian National Petroleum Corporation Limited is serving customers in most parts of Lagos.
Despite the fuel price deregulation policy, other operators have been unable to import petrol due to market uncertainty and a lack of foreign exchange, which is currently trading at more than N1,000 per dollar in the informal market.
Chinedu Okoronkwo, President of the Independent Petroleum Marketers Association of Nigeria, confirmed that steps are being taken to address the situation.
He stated, “Stakeholders have been meeting, and measures have been taken to enable oil marketers to access foreign exchange at a rate that will not disturb the current price of the product.”
In Abuja, however, many major marketers that remained open have raised their pump prices from N615 per liter to N625 per litre.
Chief Chinedu Ukadike, the Public Relations Officer of IPMAN, explained, “Some of the portals owned by NNPC have shut down and are no longer issuing authority to lift to marketers in some of their portals. This significantly shows that there is a gap in the chain of supply.”
He also reassured that NNPC’s prices have not changed and are still selling at N577.6 per liter as the ex-depot price.
Mr. Benneth Korie, President of the Natural Oil and Gas Suppliers Association of Nigeria, warned that the downstream sector in Nigeria is under serious pressure as stations are shutting down due to unfavorable operational conditions.
In Kano State, commuters are experiencing increased transport fares due to the rise in fuel prices, and several filling stations have closed down, leading to long queues at the few remaining stations.
In Lagos, major filling stations in Ikeja metropolis were reported as not selling, citing a supply disruption.
