Black marketers sell N1,500/litre as fuel scarcity hits major Nigerian cities

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Fuel scarcity has plunged several states across Nigeria into chaos, with black marketers exploiting the situation by selling petrol for as much as N1,500 per litre.

The shortage of Premium Motor Spirit (PMS), commonly referred to as petrol, has led to long queues and significant price hikes in major cities, including Lagos, Ogun, Abuja, and others.
In Lagos and Ogun states, where many fuel depots are reported to be dry, black marketers have taken advantage of the scarcity to charge exorbitant prices. Petrol is being sold at between N1,200 and N1,500 per litre in some areas.
In Abuja, fuel stations that remain open are pricing petrol between N660 and N800 per litre, while black market sellers charge between N1,000 and N1,200 per litre.
Punch reports that the crisis has been compounded by the closure of several fuel stations and the limited supply at those that are operational.
Reports from Lagos indicate that stations are facing severe shortages and have had to close, while those that are open are struggling to manage the high demand. Bus and minibus drivers have been forced to raise fares due to the high cost of fuel.

In some parts of Ogun State, fuel prices at the pump have surged to N1,200 per litre, and similar scenarios are reported in various residential areas across the country.
Residents in other parts of the country are also experiencing similar hardships, with reports of black market prices reaching as high as N1,300 per litre in cities like Jos.
A depot operator in Apapa confirmed that there was no loading of trucks and that most depots were empty as of Sunday. He said the shortage has led to a knock-on effect, with fuel stations unable to replenish their stocks and meet the high demand.
Hamid Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria, expressed concern over the situation, noting that the scarcity might persist until direct supplies are restored.