Shortage: Fuel prices rise 21% to N850 per litre as marketers shut stations

Motorists and commuters are in distress as fuel queues stretch longer, prompting a surge in fares and a booming black market. Independent petrol marketers hiked prices by over 21%, now selling at N850 per litre, up from N700, as the fuel shortage intensifies.

A survey across Lagos revealed that many major marketers have run out of fuel, while independent stations with fuel have significantly increased their prices, marking the highest spike this year. The few NNPC and major marketer stations that do have fuel are selling at over N650 per litre, resulting in massive queues.

Desperate motorists are turning to illegal hawkers, paying between N1,000 and N1,500 per litre at locations like Maryland, Egbeda, Ikotun, LASU-Iba Road, Ikeja, and Agege. Complaints about sharp practices, especially pump manipulation, are rampant as officials from the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) are notably absent from enforcement duties at filling stations.

Engr. Farouk Ahmed, CEO of NMDPRA, was unreachable for comment, though it was confirmed that personnel are still stationed at depots.

In response to the fuel crisis, Danfo drivers have doubled fares, burdening commuters. Yesterday, a trip from Mile 12 to Yaba cost N1,500, up from N1,000 the previous day. Jude Salami, a Danfo driver, lamented spending twice as much on fuel for just one trip. “I bought petrol at N850 per litre after several hours in the queue. 20 litres cost me N17,000, barely enough for two trips from Ikotun to Oshodi,” he said.

The fare from Ikotun to Egbeda has skyrocketed from N200 to N500, and a trip to Iyana-Ipaja now costs N700, depending on commuters’ bargaining skills. Many commuters are stranded at major bus stops, including Oshodi, Mile 12, Mile 2, and Obalende, raising concerns about the coming days.

The Lagos State Emergency Management Authority (LASTMA) seems overwhelmed by the influx of motorists searching for fuel. The NNPC Ltd has attributed the shortage to delays in the discharge operations of several vessels.

Olufemi Soneye, Chief Corporate Communications Officer, said, “The tightness in fuel supply and distribution in parts of Lagos and the FCT is due to a hitch in the discharge operations of a couple of vessels. NNPC Ltd is working round the clock with all stakeholders to resolve the situation and restore normalcy.”