The ongoing petrol scarcity has intensified in several Nigerian states, including Lagos and Ogun, as independent fuel marketers began purchasing petrol from private depots at N780 per litre, a significant rise from the previous price of N595 per litre.
This represents a 31 percent increase and has led to severe repercussions in various sectors of the economy, particularly transportation.
Chief Chinedu Ukadike, the Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the price hike in an interview. He noted that the price increase reflects the current demand and supply dynamics in the domestic market.
However, he expressed optimism that the situation might improve soon, as more trucks have started loading products from the depots.
According to him, “NNPC has started releasing products to independent marketers. The queues you are seeing now are ghost queues. They appear in the morning but disappear in the afternoon or evening. It will continue like that until supply stabilizes in the coming days and becomes sufficient enough.
“You must also remember that we are in the rainy season and it takes some time for trucks to come up north. In a few days, I believe the situation will ease.”
The petrol scarcity, which has lasted for over six weeks, has caused long queues at filling stations across Nigeria. Many marketers have increased their pump prices, exacerbating the issue. In Abuja, for example, pump prices range from N685 per litre at major marketers’ outlets to as high as N950 per litre at independent stations.
The scarcity is affecting the transportation sector significantly. Transport fares have risen by over 200 percent in Lagos, Ogun, and other states as drivers pass the increased costs onto commuters. A trip from Ikorodu to Victoria Island, Lagos, which used to cost less than N2,000, now costs around N6,000. The situation is even worse for long-distance travelers, as fuel prices in areas outside Lagos have surged to between N900 and N1,000 per litre.
A visit to several depots in Lagos revealed that many have depleted their stocks, which has contributed to the increase in prices. Some depot operators are reportedly planning to raise their prices further, potentially up to N800 per litre.
One of the major concerns surrounding the situation is the lack of monitoring by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Without regulatory oversight, filling stations have been accused of irregularities such as pump manipulation and price gouging.
In response to the public outcry, the Nigerian National Petroleum Corporation Limited (NNPCL) has attributed the shortage to natural causes. NNPCL’s Vice President (Downstream), Dapo Segun, explained that recent rains, lightning, and thunderstorms have disrupted fuel discharges and caused delays in product transportation. He also blamed the poor state of Nigerian roads for further complicating fuel distribution efforts.
