Filling stations, vendors sell fuel at new price despite NNPC assurance as scarcity persists

Despite the Nigerian National Petroleum Company Limited's (NNPC Ltd) assurance of product availability, Nigerians continue to battle long queues and inflated pump prices at filling stations nationwide.

Legit.ng reported that the NNPCL told Nigerians it had resolved the logistic issues causing fuel queues across the country.

A statement signed by NNPC Oplufemi Soneye, NNPCL's chief corporate communications officer on Thursday, April 25, 2024 reads: “The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is due to logistics issues, which have been resolved.

“It also wishes to reiterate that the prices of petroleum products are not changing, avoid panic buying as there is a sufficiency of products in the country”.

The situation has not improved since the NNPC message to Nigerians. Long queues of vehicles continue to be seen at filling stations across the country. Black marketers have also taken advantage of the situation and now sell petrol to residents for N2,000 per litre in states such as Sokoto.

Channels TV reports that commuters in the state said most filling stations are locked under the guise that there is no fuel, while black marketers are selling a litre of petrol between N2,000 and N2,500 across the state capital.

Similarly, major marketers in some parts of Lagos State set the pump price per litre between N630 and N650 While, black market traders sell at N800 to N1,000 per litre to motorists who cannot wait in long queues. A Petrol station manager, Kunle Olawale told Legit.ng that the situation is due to the unavailability of the products.

He said: "Clearing products from the depot is proving to be challenging, and many filling stations are eagerly awaiting cheaper petrol prices from the Dangote refinery and Port Harcourt refinery. Consequently, they are hesitant to make significant purchases, as they have encountered difficulties in reselling for profit."