Business

Fuel scarcity worsens in Lagos, product now sells for N250 to N500 per litre

Published

5 years ago

March 2, 2022

Motorists and other users of fuel on Tuesday in Ikeja and Alimosho area of Lagos state, bought a litre of fuel at N500 at black market, as the scarcity of the product remained unabated.

Nationaldailyng.com gathered that

in few filling stations where fuel is being sold, it was between N250 and N300 per litre at black market as at the time of this report.

The official pump price of a litre of fuel in Nigeria is N165.

The critical situation has forced many private car owners to park their vehicles in preference for commercial transportation, a development that has hiked intra and inter transport fare by almost 100 per cent.

The development has also registered multiplier effects on food items, goods and services with increase in prices in the area.

Some members of the public who spoke urged government to speed the process of returning the nation to constant fuel supply,to ease its negative effects on the social and economic life of the people.

The management of the NNPC has, however, assured the nation that the scarcity would end this week, adding that every effort is being made to pump adequate fuel to filling stations.

The organisation traced the scarcity to the bad fuel imported to the country by some organisations and the bid by it to sanitize the situation.