Petrol Hits N1000/ltr in Black Market, Queues Resurface
Most IPMAN stations are currently closed due to low product supply, while those that are open are selling petrol for no less than ₦650 per litre.
Black market traders are exploiting the recent tanker drivers’ strike, causing the price of petrol to soar to ₦1000 per litre in some areas of Lagos.
It was observed that many IPMAN stations in Lagos, Ogun, and nearby areas are closed, leading to long queues at NNPC and MEMAN stations.
MEMAN stations like Eterna, North West, Total Energies, Mobil, Capital Oil, Enyo, Conoil, Forte Oil, MRS, and others are selling petrol at prices ranging from ₦599 to ₦615 per litre, attracting more customers.
Many IPMAN stations in the Ikotun to Jakande Gate axis are without products, forcing motorists to queue at NNPC or MEMAN stations.
The Chairman of Satellite Depot, IPMAN Lagos State, mentioned that NNPCL has stopped supplying products through the pipeline, leading them to rely on private depots selling at ₦620/₦622 per litre.
The strike by the National Association of Road Transport Owners and Petroleum Tanker Drivers has caused operational challenges, but it was called off after discussions with the Minister of State Petroleum Resources, oil marketers, and NMDPRA.
NARTO’s National President, Othman Yusuf, instructed members to resume petroleum loading activities after a meeting in Abuja.
