A severe fuel scarcity has hit Lagos and other parts of the country, with private depot owners increasing the ex-depot price of petrol to N720 per litre, up from N630.
This development has led to a worsening fuel crisis in Abuja and neighboring states, with some filling stations selling petrol as high as N900 per litre.
Many filling stations in Lagos, Ogun, and other states have run out of stock, refusing to buy fuel from private depots at the hiked price. According to Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), “Those that shut their stations do not have fuel to sell. When you don’t have fuel, you cannot open your station. That is the problem.”
Fashola urged the Nigerian National Petroleum Company Limited (NNPC) to explain the situation to Nigerians, stating that independent marketers cannot afford to buy fuel from private depots at the current price. He appealed to Nigerians to avoid panic buying, advising them to buy only what they need to ensure the fuel in circulation can go round.
The NNPC has been supplying fuel to major marketers at a price below or around N600, while private depot owners sell to independent marketers at a higher price. IPMAN leaders have repeatedly requested direct fuel supply from the NNPC, but their appeals have been ignored.