Fuel Scarcity bites harder as fuel sells for 200 naira per litre

The acute shortage of petrol in filling stations across the country took a turn for the worse on Tuesday with a litre of the product selling for between N200 and N300 in retailers’ outlets against the official price of N97.

This was contrary to assurances by marketers that the long queues of motorists at filling stations would ease slightly by Thursday following the release of about 100 million litres of the product to retail outlets by the Nigerian National Petroleum Corporation and other importers on Monday.

A litre of petrol was sold for N130 in many locations in Lagos on Tuesday.

Similarly, black market operators had a field day in Calabar, the Cross River State capital, as they sold the product for as high as N300 per litre, with desperate consumers buying at that price.

A drive through the city by one of our correspondents revealed that almost all the independent marketers shut their outlets.

A filling station that had the product along Palm Street sold for N180 per litre, while along the highway, some stations that were opened sold it for N150.

Calabar streets were mostly empty as many vehicles were off the road as a result of the scarcity.

Many commuters in the city had to trek long distances due to the unavailability of commercial vehicles.

The Chairman, Independent Petroleum Marketers Association of Nigeria in the state, Mr. Michael Udofia, said the product was not available at the depots.

Similarly, motorists in Akwa Ibom State bought fuel for between N170 and N200 from the few filling stations that had the product.

Residents of the state pointed accusing fingers at the state lawmakers, saying many of them owned filling stations and did everything possible to ensure that the task force that was monitoring the sale of the product did not function.

The Department of Weights and Measures, Federal Ministry of Industry, Trade and Investment on Tuesday sealed seven filling stations in Kaduna for selling petrol above the regulated pump price of N97 per litre.

The raid was carried out in the Kaduna metropolis, which had witnessed long queues of motorists for about two weeks now.

All the stations inspected by officials of the department were discovered to have adjusted their metres to cheat customers.

The Director of the DWM, Mr. Mohammed Sidi, said the raid was to protect consumers and ensure that the filling stations conformed to laid down regulations.

Also on Tuesday, the Department of Petroleum Resources raised the alarm that the current scarcity of petrol across the country might likely continue beyond this month due to the non-renewal of contracts of some independent marketers to import the product.

The Director, DPR, who was represented by the Zonal Operations Controller, Abuja, Mr. Aliyu Halidu, stated this at the budget defence of the department before the Senate Committee on Petroleum (Upstream).

He alleged that the non-payment of the subsidy claims to the marketers by the government had also hindered the importation of the product, resulting in shortage in supply.

Halidu added that the marketers were not comfortable with the current pump price of N97 per litre.

He also said that the marketers had been complaining that the operational cost and other logistics had seriously eaten deep into their profit, making it difficult for them to break even at the current price.

Halidu also noted that the shortage in the supply of petrol was equally being affected by the increased illegal bunkering in the country.

Source: Punch