Fuel Scarcity Returns To Lagos, Abuja, Marketers Blame Forex Scarcity

Fuel lineups have reportedly returned to several sections of Abuja and Lagos State, as additional filling stations have closed owing to stock shortages or hoarding.

Marketers, on the other hand, have blamed the return of fuel lineups and scarcity on the currency crisis and terrible roads, which have hampered petroleum movement to specific sections of the country.

While several filling stations were closed, Anaedoonline.ng discovered that the few that remained open had low attendance and had raised their pump rates to N600.

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According to reports, the Eterna Filling Station on the Kubwa Motorway in Abuja, although having a few personnel there, did not sell the goods, as did the Gegu Oil Station on the same motorway.

A long queue was seen at the Aso Energy Resources Station in Kubwa Phase 2, with only one functional pump as petrol was sold for N630. Conoil, located opposite the NNPC towers in Abuja’s Central Area, also opened and sold the product for N623 a litre.

However, certain NNPCL outlets in Abuja’s Wuse Zone 6 and Garki Area 10 were dispensing at the official price of N617.

The product was reportedly sold for as much as N650 a litre in some filling stations in Lagos, while fuel pump prices range between N568 and N585.

According to the site, some filling stations, including those run by the Nigerian National Petroleum Company Limited, have been closed.

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This has resulted in long lines and price increases at the few stations that still sell the product. The price of petrol has risen past N600 at several independent filling stations, while larger outlets in the state are selling for more than N568.

Daily Trust investigations found that NNPC stations in Ikeja, Ifako Ijaiye, Lagos Island, and other locations had stopped distributing the product, while the few stations that still did had raised their prices to between N600 and N650 from the initial rate of between N568 and N585.

The Major Marketers Association of Nigeria (MOMAN) responded by blaming the scarcity on the surge in dollars, terrible roads, and gasoline hoarding.

Clement Isong, Executive Secretary of MOMAN, told Daily Trust yesterday that tanker drivers and some dealers no longer find the business appealing due to the sector’s issues.

Isong further stated that some marketers began hoarding petrol in anticipation of a product shortage, saying that marketers cannot acquire dollars through the official channel, so they are sourcing it on the black market.

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He said, “The roads from the South to the North are in a terrible state and truck owners have incurred huge financial losses as a result of accidents.

“The dollar has crossed the N1000 threshold, and members can’t get it from the official window. The unstable nature of the naira has continued to add more and more pressure on the business.

“Those who have products have also resulted in hoarding in anticipation that there will be scarcity. This is also one factor.”

Similarly, Debo Ahmed, the president of the Independent Petroleum Marketers Association (IPMAN), blamed the scarcity on supply interruption.

He stated that the NNPCL is still the sole importer of refined petroleum products, and that the only way out is to begin local refining.

Ahmed said, “Hopefully, when the Dangote Refinery begins production in December, we will have some respite.”

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Another major marketer, who spoke with our correspondent on the condition of anonymity, said: “You know what the dollar is talking about and don’t forget everything we are paying for is in dollars.

“When it is not available, you should know that it is a problem for us as marketers. Thank God you have also highlighted the point here.”

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