A sharp drop in the supply of petrol to the market has ensured that filling stations around Lagos have remained shut resulting in endless queues around the commercial capital of the nation. It was gathered that oil marketers were no longer interested in importing the product mainly because of the rising exchange rate of the dollar to the Naira. The other factors responsible for the marketers’ action are delayed subsidy payments and rising interests on loans from banks. An official of a major marketing firm, who declined to have his name in print, said:
“I am afraid that we cannot continue to import petrol because it costs more now to do so owing to the recent devaluation of the Naira. The rising amount of petrol subsidy arrears payable to us coupled with the high interests on loans from financial institutions, are still major issues in our hands.”
Our correspondents observed on Sunday that the states hit badly by scarcity of petrol were Lagos, Ogun, Oyo, Bayelsa, Ondo, Ekiti, Kaduna, Delta, Plateau, Akwa-Ibom. Abuja, the nation’s capital, appeared to be the worst hit by the shortage.
The Chairman, Nigeria Union of Petroleum and Natural Gas Workers, Lagos Zone, Alhaji Tokunbo Korodo, said the depots did not have enough products to serve filling stations across the country.
“If there were enough to go round, tanker drivers, of course, would move products to the areas of need. Nigerians should not be surprised that this is happening now. It is really unfortunate,” he said.
In Lagos, many filling stations did not sell petrol but those that were open for business had long queues of motorists to contend with. Although their pump prices remained N87 per litre, black market operators sold 10 litres for N1,200, i.e N120 per litre. Drivers of commercial buses capitalised on the situation to increase their fares. For instance, fare for Ojodu-Berger to Magboro, which hitherto was N50, was N100 on Sunday.
This is a serious matter o! I had to drive all the way to Ogun state (around Mowe) yesterday to get fuel and, surprisingly, there were no queues. It is well …