Fuel scarcity is gradually emerging in Lagos and other parts of the country as private depot owners have increased the ex-depot price of petrol from N630 to N720 per litre.
This escalation coincides with worsening fuel scarcity in Abuja and nearby states on Sunday, with some filling stations charging as much as N900 per litre for PMS.
Reports from our correspondents indicate that numerous filling stations in Lagos, Ogun, and other states have exhausted their stock, refusing to purchase the high-priced fuel from private depots.
In an interview on Sunday, Hammed Fashola, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that many stations remain closed because they have no fuel to sell. He urged the Nigerian National Petroleum Company Limited (NNPC), the sole importer of petrol, to clarify the situation to the public.
“Stations that are closed have no fuel. Without fuel, they can’t operate. The NNPC is the sole importer, so they are best positioned to explain what’s happening. Currently, independent marketers can’t afford the high prices set by private depots, which are selling fuel between N715 and N720 per litre. Considering the additional costs of transportation and other expenses, it’s too costly for them to operate. That’s why stations are closed. Some marketers choose not to buy the fuel, knowing that the masses can’t afford such high prices in this economy,” Fashola explained.
Our correspondents have learned that private depot owners previously sold PMS to independent marketers at N630-650 per litre, while the NNPC sold it to major marketers at prices below or around N600.
IPMAN leaders have repeatedly requested that the NNPC supply petrol directly to them, similar to major marketers, but the NNPC has not yet complied.
Fashola urged Nigerians to avoid panic buying and to purchase only what they need, ensuring the available fuel can circulate effectively.
It was also noted that major marketers sold petrol for below N650, while independent marketers sold it for between N750 and N800 per litre.
Multiple officials confirmed that representatives of the NNPC visited various depots in Apapa on Friday, instructing depot owners to prioritize fuel supply to the Federal Capital Territory, Abuja, where fuel queues were first noticed.
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