Petrol Stations Sell N270 Per Litre in Lagos as Queues Recede
By Modupe Gbadeyanka
Some petrol stations in Lagos are selling premium motor spirit (PMS) to consumers at a pump price between N215 per litre and N270 per litre, Business Post reports.
A tour of filling stations in some parts of the metropolis by this reporter showed that the long queues witnessed a few weeks ago are gradually going shorter.
A number of petrol stations visited in the Alimosho area of Lagos State are selling the product to motorists but at a price above the approved rate of N170 per litre.
At a fuel station opposite Rauf Aregbesola Medical Centre, Okunola, Egbeda, the product was sold at N250/litre to consumers, while in the Ayobo area of the council, it was sold between N250/litre and N270/litre.
At Iyana Ipaja, most of the petrol stations in the area dispensed fuel between N230 per litre and N250 per litre, and in the Shasha area of the state, a petrol station around barracks sold the product at N215 per litre last Friday, though it had a few consumers jostling to purchase the product because of its cheaper price.
It was a similar situation at a filling station in the Akowonjo area of Lagos State, where a long queue disrupted the flow of traffic.
However, on the Island, petrol is sold at most petrol stations at a price slightly above the official pump price.
Last month, long queues began to reappear in Lagos, and it took several days before the government explained to Nigerians the reason for the scarcity of the product.
In a statement last Wednesday, the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) urged Nigerians to remain calm as the Nigerian National Petroleum Corporation (NNPC) Limited had imported PMS to last 34 days, noting that the scarcity was caused by a disruption in supply.
“The Nigerian National Petroleum Corporation Limited (NNPCL) has imported PMS with current stock levels sufficient for 34 days.
“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products, and hoarding,” the agency said, adding that there was no plan to increase “the price of PMS during this period.”
The scarcity of fuel allowed black marketers to make more money from consumers who were desperate to purchase petrol for their cars and businesses. The product was sold for as higher as N10,000 for 20 litres at a price of N500 per litre.
But at the time of filing this report on Tuesday, most of the sellers of the product in jerry cans were out of business and were mostly not seen on major roads like last week.