Black market operators are exploiting the recent strike by tanker drivers, causing the price of petrol to rise dramatically to N1000 per litre in certain areas of Lagos State.
According to Channels Television, many filling stations owned by the Independent Petroleum Marketers Association of Nigeria were closed, leading to long lines at stations owned by the Nigerian National Petroleum Company Limited and the Major Energy Marketers Association of Nigeria in Lagos State, Ogun State, and surrounding areas.
While black market prices have reached N1000 per litre, MEMAN stations like Eterna, NorthWest, TotalEnergies, Mobil, Capital Oil, Enyo, Conoil, ForteOil, MRS, and others are selling fuel for prices ranging from N599 to N615 per litre.
Consumers are flocking to MEMAN stations in search of the cheapest prices, leading to increased vehicle traffic at these locations.
Many IPMAN stations are currently closed due to low product supply, and those that are open are selling fuel for no less than N650 per litre.
Most IPMAN filling stations in the Ikotun to Jakande Gate area did not have any fuel as of Wednesday morning, forcing motorists and private car owners to either wait in long queues at NNPCL or visit MEMAN stations.
The Chairman of Satellite Depot, IPMAN Lagos State, informed Channels Television that NNPCL is no longer providing products to its members due to strike actions caused by operational challenges faced by members of the National Association of Road Transport Owners and the Petroleum Tanker Drivers.
“NNPCL no longer give us products despite that the pipeline in our area has been repaired. We don’t know why they stopped using the pipeline to supply us with products. Maybe they fear vandalism. We now rely on private depots who sell to us at an ex-depot price of between N620/N622 per litre. By the time we take the products to our stations, the landing cost will be around N630 or more depending on the distance from the depot to our stations.
“Some people are selling around N650. It would have been cheaper if we bought directly from NNPCL at around N555 per litre,” he said.
The drivers started their strike on Monday but called it off on Tuesday after meeting with the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, oil marketers, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Following a meeting in Abuja, NARTO National President Othman Yusuf instructed members to resume petroleum loading activities immediately.
