Due to the recent tanker driver strikes, black market racketeers are profiting from the sharp increase in the price of Premium Motor Spirit, or petrol, which has reached ₦1000 per litre in some areas of Lagos State.
The patrol team of Channels Television noted on Wednesday that long lines were starting to form at the stations owned by the Nigerian National Petroleum Company Limited and the Major Energy Marketers Association of Nigeria, while the majority of filling stations in Lagos State, Ogun State, and the surrounding areas, particularly those affiliated with the Independent Petroleum Marketers Association of Nigeria, were under lock and key.
While black market prices have increased to N1000 per litre, MEMAN stations like Eterna, NorthWest, TotalEnergies, Mobil, Capital Oil, Enyo, Conoil, ForteOil, MRS, and others have different pricing per litre ranging from ₦599 to ₦615.
MEMAN stations witnessed an increase in the number of vehicles swarming their property as customers hunt for stations offering the best deals.
Due to a lack of merchandise, the majority of IPMAN stations are currently locked and keyed, and those that do have items sell them for no less than ₦650 per litre.
As of Wednesday morning, the majority of IPMAN filling stations along the Ikotun to Jakande Gate axis were devoid of merchandise, forcing drivers and owners of private vehicles to either wait in lengthy lines at NNPCL or MEMAN stations.
Channels Television was informed by Chairman Satellite Depot of IPMAN Lagos State that NNPCL is no longer providing products to its members.
“NNPCL no longer give us products despite that the pipeline in our area has been repaired. We don’t know why they stopped using the pipeline to supply us with products. Maybe they fear vandalism. We now rely on private depots who sell to us at an ex-depot price of between ₦620/₦622 per litre. By the time we take the products to our stations, the landing cost will be around ₦630 or more depending on the distance from the depot to our stations.
“Some people are selling around ₦650. It would have been cheaper if we bought directly from NNPCL at around ₦555 per litre,” he said.
Source: Channels Television
