Petrol Price: Black Market As High As N4000 In Abuja

Private depot owners now sell the Premium Motor Spirit (PMS), otherwise known as petrol, at N210 per litre, it was learnt yesterday.

The product, officially pegged at N148/litre in depots, has been scarce for three weeks.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said some marketers who paid for petrol at the depots wait for over two weeks before lifting it.

Its National Vice President, Alhaji Abubakar Maigand, told one of our correspondents that the product has become more difficult to access despite the Federal Government’s promises.

Maigandi said: “There is no product availability. Most of the private depots are selling it at N210 per litres. They are supposed to sell N148/litre. It is giving us serious headache.

“Even at that N210/litre, you cannot get the product to load. Before you load it takes up to two to three weeks after the payment.

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“Automatically, there is no product in most of the petrol stations. Yet, NNPC is saying it has large amount of product.”

The scarcity bit harder in the Federal Capital Territory (FCT) yesterday as most of the retail outlets were not open.

Black arketers had a field day, selling in cans for as much as N4,000 per litre. The scarcity has spread to states, with attendant hike in transportation costs.

READ ALSO: NNPC Petrol Price Without Subsidy Is N400-per-Litre – Marketers

In Jigawa, independent parketers hiked prices to N260 far liter.

In Oyo, motorists and commuters in Ibadan, the state capital, are having a hard time as gridlocks caused by fuel queues hinder free vehicular movement.

A litre of petrol now sells for N300 in black market in Ibadan. Some marketers sell at between N190 and N250 per litre. But most filling stations are closed.

Get Ready For Increased Petrol Pump Price - NNPC Tells NigeriansTrending video of the day;

Photo Credit: Getty 

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