Fuel Prices Rise Sharply, Check Out New Prices

Petrol supply continues to fluctuate across Nigeria, leading many filling stations to remain closed or unable to dispense the product.

Investigations reveal that in the Federal Capital Territory (FCT), petrol is priced close to N1,000 per litre at some Independent Petroleum Marketers’ Association of Nigeria (IPMAN) stations in satellite towns. Motorists in Abuja city are facing long queues at the Nigerian National Petroleum Company Limited (NNPCL) and a few Major Oil marketers due to the limited availability of petrol.

In Abuja, many stations were reported closed, and those that were open had extensive queues. This issue began before the #EndBadGovernance protest on August 1 and has continued for over two weeks. At Umaru Ngelzarma Filling Station in Lokogoma, petrol was observed to be sold at N980 per litre, while Christee’s Petrol Station in the same area had a price of N950 per litre. Long queues were reported at the NNPCL station at Katampe, where the price was N617 per litre, and another NNPCL outlet at Airport Junction, Jabi, was closed during a visit.

In Lagos, queues were observed at NNPCL stations where petrol was sold for N568 per litre. Other stations like Mobil, MRS, and North West had prices ranging between N600 and N650 per litre. Commercial drivers expressed significant concern over the scarcity and high prices, with some reporting prices as high as N1,000 per litre at certain stations. Omotayo Adenikeju, a transporter, noted that he had stopped traveling due to the high cost.

A former IPMAN Chairman in Lagos, Akin Akinade, explained that third-party vendors sell fuel to members at N840-N850 per litre, and with transportation costs, the retail prices cannot be lower.

In Kano, petrol prices at independent stations reached N950 per litre, while NNPCL stations sold it for N620. Stations around Kano Line, Kofar Nasarawa, Club Road, and Tal’udu Sabon Titi reflected these prices. AY Maikifi on Maiduguri Road sold petrol for N900 per litre, and A.A. Rano Station at Gyadi-Gyadi Zaria Road had it at N730. Bashir Umar, an independent oil marketer, attributed the supply issues to reluctance among marketers to transport fuel from Lagos due to potential price drops with the upcoming Dangote Refinery supply.

In Maiduguri, almost all NNPCL filling stations were closed, including those at Bulumkutu, Mohammed Indimi Way, and Galadima Junction. A local driver, Aminu Idris, lamented the unaffordable prices from independent marketers, which reached N950 per litre. IPMAN Chairman for Borno State, Mohammed Kuluwu, stated that many stations suspended fuel supply due to the ongoing crisis from the #EndBadGovernance protest.