Despite NNPC’s claim, fuel scarcity persists as petrol sells above N700/per liter in Lagos, Abuja 

Fuel scarcity continues to worsen in Lagos, Ogun State, Abuja, and some other parts of the country despite claims by the Nigeria National Petroleum Corporation (NNPC) Limited that all issues have been resolved.

Recall that last week, the spokesperson for NNPC, Olufemi Soneye, issued a press release stating that all factors responsible for fuel scarcity had been resolved, and there is an excess supply of petrol in the country.

However, Nairametrics observed that in Lagos, fuel stations are selling petrol for as high as N850 to N900 per liter in locations such as Maryland, Ikeja, Agege, Iyana Ipaja, and other outskirts of Lagos.

In Abuja, Nairametrics observed long queues at filling stations along Abuja Airport Road, Lugbe, and Nasarawa-Abuja Road.

In addition, black marketers stood along the way, selling to wearied motorists for as high as N1,500/per liter.  

Nairametrics observed a concerning trend of most filling stations closing their doors, while those that remained open often refused to serve individual customers and motorists. This reluctance compounded the challenges faced by consumers seeking fuel in areas such as Agege, Ikeja, Ogba, and Ikotun in Lagos.

Remarkably, the few operational stations in these regions resorted to selling fuel at inflated prices, reaching as high as N850 to N900 per liter, reflecting the heightened demand amid the scarcity.

Nairametrics observed that the escalating demand for fuel prompted extensive queues, exacerbating the situation in various parts of Lagos and its neighboring states.

In locations like Ikorodu, Sango, and Mowe the outer parts of Ogun State, the impact of the scarcity was particularly pronounced, with motorists facing prolonged waits in line.

During the early hours of Monday in Lagos, commuters were observed patiently awaiting buses to convey them to their respective workplaces.

However, with the persistent fuel scarcity, transportation costs surged significantly, with motorists and okada riders doubling their fares in areas such as Ogba, Ikotun, Berger, and various other locations across the city.

This abrupt increase in transport charges added to the burden faced by commuters already grappling with the challenges posed by the ongoing scarcity. 

For marketer operators and experts who spoke to Nairametrics, there are speculations around imminent increase in price of PMS, leading to excessive hoarding, panic buying, among other things.  

 Disparity in Rates  

Energy analyst and key stakeholder, Kelvin Emmanuel, attributed the fuel scarcity to discrepancies between the delivery prices for the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Major Oil Marketers Associations of Nigeria (MOMAN), stemming from the federal government’s price cap. 

According to reports, IPMAN indicated that the prevailing scarcity of petrol could persist for an additional two weeks.  

Chinedu Ukadike, the Public Relations Officer of IPMAN, made this assertion on Sunday in response to the widespread shortage of the product affecting numerous states. 

Ukadike told newsmen that the product is currently not available in the country, saying it is a challenge sourcing it because most refineries in Europe are undergoing turnaround maintenance. 

What NNPC said 

Earlier, Nairamterics reported that NNPC attributed the recent scarcity of fuel in some regions of the country to logistical problems impacting the distribution of the product in those areas.  

The spokesperson of NNPC, Olufemi Soneye, made this disclosure in a statement on Thursday in Abuja.   

Soneye, however, stated that the logistics issues have been fully resolved, and added that there will now be fuel availability in those regions.  

He also warned against panic buying of petrol as there is no shortage of fuel in the country.