N2,000 Per Litre: Filling stations in border towns increase petrol prices

Petrol is now being sold for N2,000 per liter in border communities in Ogun State and other areas, several reports indicate.

Residents in these areas have reported that the scarcity of the product has worsened the situation for commuters and their access to petrol.

In 2019, former President Muhammadu Buhari placed a ban on the supply of petroleum products to Nigerians living within 20 kilometers of Nigeria’s borders with neighboring countries to prevent the diversion of subsidized petrol. The ban was later lifted for filling stations to sell petrol in the border areas, but the number of stations is reportedly not enough to meet the needs of the population in those areas.

Reports indicate that many residents are forced to rely on the black market to purchase petrol in the border areas, where prices are exorbitant. Residents have reported that a liter of petrol now sells for as high as N2,000 in the black market.

This comes as petrol prices have reached an all-time high of N950 per liter in Lagos and other parts of the country.

A survey conducted by Legit.ng shows that many petrol stations in the Lagos metropolis have adjusted their prices to sell between N850 and N950 per liter, citing scarcity as the reason for the high costs.

Commercial drivers have also reported that the scarcity has led to a 30% increase in transportation costs.