Fuel scarcity is gradually emerging in Lagos and other parts of Nigeria as private depot owners hike the ex-depot price of petrol from N630 to N720 per litre.
The scarcity intensified in Abuja and surrounding states on Sunday, with some stations dispensing petrol at N900/litre.
The National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, stated that many filling stations remained closed due to lack of fuel.
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“Those that shut their stations do not have fuel to sell. The NNPC, as the sole importer, should explain what is happening with the product,” Fashola said.
Fashola explained that independent marketers are unable to buy from private depots selling at N715 to N720 per litre, making it financially unfeasible to sell to consumers. “Some marketers refuse to buy because they know the masses cannot afford high-priced petrol in this economy,” he added.
Previously, private depots sold petrol to independent marketers at N630-650/litre, while the NNPC sold to major marketers below N600. Despite appeals from IPMAN leaders for direct supply from the NNPC, this has not been implemented.
Major marketers are selling petrol below N650, while independent marketers sell between N750 and N800 per litre. NNPC officials visited depots in Apapa, instructing them to prioritize fuel supply to Abuja, where queues began forming on Friday.
Fashola advised Nigerians to avoid panic buying, emphasizing the need to buy only what is necessary to ensure available fuel can circulate adequately.
