Fuel sells for N2,500/litre black market as scarcity persists

Fuel sells for N2,500/litre black market as scarcity persists

Nigerians continue to bemoan the immense hardship they endure as a result of the statewide fuel shortage, which has made conducting business and other activities extremely challenging.

Commuters in Sokoto state said most filling stations are locked under the guise that they lack product to dispense, while black marketers are selling a litre of fuel between N2,000 and N2,500 across the metropolis, Channels TV reported.

Some residents, speaking with a reporter, called on the government to intervene to bring the situation under control so as not to degenerate.

They said the situation has started affecting business activities and making life difficult for people as the black market price of N2,500 per litre is becoming scarce, and this is bringing business and other activities to a standstill in the metropolis.

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Chronicle NG reported that the Nigerian National Petroleum Company Limited (NNPC Ltd) has blamed the fuel queues that have resurfaced in Lagos, Abuja, and other states of the Federation on “logistics issues.”

However, NNPC Limited declared that the issues had been resolved.

“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 as a result of logistics issues and that they have been resolved,” the company said in a statement on Thursday evening.

“It also wishes to reiterate that the prices of petroleum products are not changing.”

NNPCL called on Nigerians to “avoid panic buying as there is a sufficiency of products in the country.”

Fuel sells for N2,500/litre black market as scarcity persists