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Fuel scarcity bites harder in Lagos, Ogun, Abuja, commuters stranded

Published

2 years ago

October 26, 2022

Petrol scarcity worsened in different parts of Nigeria on Tuesday and motorists spent hours at filling stations in their battle to get the product.

Black marketers, according to a Punch report, had a field day, selling a litre of petrol between N300 and N400 in many parts of the country. And desperate motorists who could not afford to wait long hours at filling stations had to patronise them.

The situation has led to a sudden increase in transport fares across the country.

In Lagos, for instance, a trip from Iyana-Isolo to Berger along Lagos-Ibadan expressway that used to go for N500 jumped to N800 on Tuesday. The fare from Iyana Oworo to Berger was raised from N300 to N400, according to a Punch report.

Amid long queues and waiting hours in Lagos, some filling stations sold a litre of the Premium Motor Spirit at N200/litre as against the approved price of N180-N185/litre.

A Punch correspondent who visited some filling stations around Ikotun, Egbeda and Ojodu Berger areas reported long queues at the few stations that managed to sell.

A businessman, Kayode Oloriegbe, said he could not wait to buy from filling stations, but had to patronise a black marketer who sold at N300/litre.

“I was lucky to buy a 10-litre gallon at N3,500. Others said they bought at higher prices from the black marketers,” he said.

A tricyclist, Ade, who operates between Ago Palace Way and Second Rainbow Bus Stop at Amuwo-Odofin, said, “Black marketers sell five litres at N1,700 at Ago Palace during the day and N2500 at night. This is a normal thing. Whenever we are approaching the end of the year, we mostly witness fuel scarcity.”

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One of our correspondents who went round the Isolo, Okota and Ilasa axis in Lagos witnessed that only one out of six petrol stations around that axis sold petrol to motorists and other consumers. Others said they did not have petrol.

Two NNPC filling stations before Sule Abore Street in Ojodu were shut.

The attendants at the filling stations told The Punch that they had run out of fuel. They, however, said they were expecting to get the supply before the end of yesterday (Tuesday).

At Bova’s filling station, a long queue caused traffic gridlock along Ogba road as of the time of filing this report.

Similarly, a long queue was sighted at Rainoil filling at Berger Roundabout, with some drivers alleging that they were charged an extra N300 by fuel attendants. The attendants declined to speak with our correspondent.

At the Eterna Oil filling station located before Afeez Bus Stop, Ojodu Berger, there was also a long queue.

One of the fuel attendants said the trucks that were supposed to supply them with fuel did not turn up.

A similar long queue was seen at the Amuf Oil filling station at the Grammar School Bus Stop, Ojodu Berger.

An attendant at Oando filling station, Aguda, after Omole Bus Stop, who spoke with The Punch, told one of our correspondents that the flood that occurred a few days ago caused fuel prices to shoot up at depots, making it difficult for many stations to sell at regulated prices.

Checks by one of our correspondents revealed that many of the petrol stations along Alagbole/Akute/Denro/Ajuwon axis were shut due to the unavailability of petrol, while some of the filling stations witnessed small crowds of motorists jostling to manoeuvre through the queues.

It was also observed that while some of the filling stations sold at N180/litre, others sold as high as N185 as motorists flooded forecourts of gas stations in search of petrol.

A motorist, who identified himself as Alabi, said he had tried to get the product from more than three different stations on Tuesday before retiring out of frustration.

“When I came back from work yesterday, I tried at least three different filling stations, all to no avail. None of them sold. This one is out of the blue. The country is just becoming frustrating. Here, they sell at N180. By the time you come tomorrow, they might sell at N190.”

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On the Iyana-Iba – Egbeda axis, only two filling stations (Oando and Total) were sold as at the time of this report while the gates of other stations, including the ones belonging to the Nigerian National Petroleum Company Limited (NNPCL), were under lock and key.

Other stations such as TotalEnergies, Ardova, 11 Plc and Fatgbems on the Berger expressway had long queues as of Tuesday morning.

Stations such as TotalEnergies and NNPCL sold at N180 per litre.

In Katsina State, operators of illegal fuel depots known as “Bubulutu” were the only ones that sold fuel to motorists and other users of the product.

The few filling stations that still sold the product, especially in the state capital, only sold for a few hours before announcing to motorists that the product was no longer available.

Although the majority of the black market operators sold at N2,000 per four-litre keg, they still recorded heavy patronage due to the non-availability of the product in many filling stations in the state.

Fuel scarcity was first observed at the beginning of October in the state and was attributed to the flooding witnessed along some of the routes which vehicles supplying fuel passed through.

The situation was still on as of Tuesday.

It was also observed that the few filling stations sold fuel to motorists N240 and N270 per litre.

Some motorists said the development had forced them to buy the products from neighbouring states where they alleged they found it easier to buy without much stress.

A lecturer at a University in Katsina said, “What I do these days before coming to Katsina is to fill up my car either in Kano or in Gusau and also buy an extra 25 litres to take care of my movements while here. I believe the fuel scarcity is more or less artificial, instead of all these flooding reasons being given as excuses.”

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CBN fines any bank N150m hoarding cash

Published

1 hour ago

December 22, 2024

Trends Admin

CBN fines any bank N150m hoarding cash

The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).

This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.

Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.

A staff member of the CBN stressed that the apex bank would not tolerate such practices. “The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.

To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.

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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.

“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.

Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country. Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.

“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.

CBN fines any bank N150m hoarding cash

metro

Three days to Christmas, food prices, transport fares hit the roof

Published

1 hour ago

December 22, 2024

Trends Admin

Three days to Christmas, food prices, transport fares hit the roof

According to the Universal Declaration of Human Rights ,UDHR, Article 25(1), everyone has the right to standard of living adequate for their health and well-being, which includes access to food, clothing, and housing.

Similarly, the International Covenant on Economic, Social and Cultural Rights ,ICESCR, Article 11 emphasizes the right to an adequate standard of living, including sufficient food.

Furthermore, the Covenant recognizes the fundamental right to be free from hunger and advocates for measures both individual and international to eliminate hunger.

It is widely acknowledged that inadequate food availability can lead to health issues, as food is as essential to health as air is to breathing.

The situation is exacerbated by the rising costs of healthcare, which are increasingly out of reach for many due to ongoing inflation.

Difficult situations

In Nigeria, harsh economic conditions are forcing households into difficult situations, with many going to bed hungry due to skyrocketing food prices. With Christmas just three days away, our correspondents visited local food markets in Lagos and Abuja to see how citizens are coping with the rising cost of goods and services.

In the locations, buyers and sellers expressed their frustrations over the increasing prices of food items.

At Agric Market in Ikorodu, Mummy Somto, lamented that she had never witnessed such high prices in her lifetime.

She noted that a chicken that cost N15,000 last year now sells for N35,000, with only older layers available for N15,000.

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“What will that do for my family? We have never seen it like this in Nigeria. I hope this hope is the hope,” she said.

At Mile 12 International Market, trucks filled with perishable goods such as tomatoes, peppers, onions, cucumbers, potatoes, carrots, cabbages, and other vegetables were lined up for unloading while eager buyers waited nearby.

When asked about the high prices despite the abundance of food, truck owner Alhaji Shehu, explained that the situation arose from expenses related to diesel, farm security, police and military checkpoints before reaching Lagos.

He mentioned spending between N500,000 and N800,000 per truck, which inevitably raises prices.
“This is our business, and we are not pleased with the high costs either. If I sell my goods, I still need to buy what I don’t sell. It’s suffocating us. I also commend the buyers,” Shehu added.

Bags of rice

Mrs. Bukky Osagie, a rice vendor at Mike 12, shared her concerns about escalating prices: “Last December, a bag of rice was between N65,000 and N70,000. Today, it’s from N95,000 depending on the brand. Traders are exhausted. People are buying half bags because they can’t afford full ones. They also need to buy additional items. How do people survive this trend? This has to stop if the government truly cares for its citizens.”

At Daleko Market, Mrs. Hannah, was seen pricing vegetable oil when she declared, “Whether the devil likes it or not, we will celebrate with our families and share love during this season. We will just have to adjust our spending according to our means.”

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As of the time of filing this report, a 25-liter container of vegetable oil was selling for between N86,000 and N95,000 depending on the brand.

Garri was priced at N56,000, while Ijebu Gaari was N58,000.

A carton of satchel tomatoes ranged from N8,800 to N9,200 while a pack of spaghetti cost N23,000.
70 grams of noodles were priced between N9,800 and N10,500. A roll of curry or thyme sold for N550 each, while small bulbs of onion reached as high as N200, making them almost unaffordable for many.

Christmas cheer

In Abuja, soaring food prices and steep transportation costs are casting a shadow over Christmas celebrations for many families.

The cost of essential holiday items, such as poultry, has surged, with chickens priced between ¦ 15,000 and ¦ 25,000, and turkeys reaching up to ¦ 130,000 in some markets.

Sunday Vanguard learned that rising feed prices, transportation costs, and supply chain disruptions are driving these increases.

Additionally, a 50-kg bag of rice now costs between ¦ 94,000 and ¦ 125,000, a significant leap from previous months.

Transportation fares have also skyrocketed, with transport fare from Abuja to major cities such as Lagos, Port Harcourt, and Enugu increasing from 15 percent to 35 percent in the past month.

For instance, a trip from Abuja to Lagos by road, which previously cost ¦ 28,000–¦ 35,000, now ranges between ¦ 46,500 and ¦ 60,000.

Three days to Christmas, food prices, transport fares hit the roof

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Three Ogun varsity students die auto crash

Published

2 hours ago

December 22, 2024

Trends Admin

Ogun State Command Police Public Relations Officer, SP Omolola Odutola

Three Ogun varsity students die auto crash

The Police Command in Ogun State has confirmed the death of three university students in a single-vehicle accident on the Ilisan-Ago-Iwoye Road.

In a statement issued on Saturday, the command’s spokesperson, SP Omolola Odutola, revealed that the victims were suspected to be students of Olabisi Onabanjo University (OOU), Ago-Iwoye.

The incident, which occurred around 3:30 p.m. on Friday, involved an Opel car with registration number AAA-126 HE. The vehicle was reportedly driven by Adekunle Adebiyi, a resident of 5 Sunmibare Street, Awa Ijebu.

“The accident was caused by overspeeding, leading to the driver losing control and the vehicle flipping into the bush,” Odutola explained.

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She further disclosed that one male passenger, whose identity is yet to be confirmed but is believed to be an OOU student, died on the spot. His body was taken to the mortuary at General Hospital, Ijebu Ode.

“Two female students from Olabisi Onabanjo University — Dada Oluwanifesimi, 18, and Miracle Daniel, 19 — were rushed to Love and Care Hospital but sadly passed away while receiving treatment,” she added.

The vehicle involved in the crash has been recovered and is now in police custody.

Odutola assured the public that further updates on the tragic incident would be provided and advised motorists to adhere to traffic regulations, particularly during the festive season.