Fuel prices have surged to an alarming N1000 per litre in certain regions of Nigeria, as the black market capitalizes on strike actions by tanker drivers, causing widespread inconvenience and financial strain for consumers.
According to reports, the ongoing strike by tanker drivers has led to the closure of numerous filling stations owned by the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Lagos State, Ogun State, and surrounding areas.
Journalists investigating the situation observed long queues at stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and the Major Energy Marketers Association of Nigeria (MEMAN). Meanwhile, MEMAN stations such as Eterna, NorthWest, TotalEnergies, Mobil, Capital Oil, Enyo, Conoil, ForteOil, MRS, and others are offering fuel at varying prices ranging from N599 to N615 per litre.
With black market vendors selling petrol at exorbitant rates, more consumers are flocking to MEMAN stations in search of more affordable prices. However, most IPMAN stations remain closed due to low product supply, with the few open ones selling petrol for no less than N650 per litre.
Chairman of the Satellite Depot, IPMAN Lagos State, expressed frustration over the situation, stating that NNPCL has ceased supplying products to their members despite the repair of pipelines in their area. He noted that IPMAN now relies on private depots, purchasing fuel at an ex-depot price of between N620/N622 per litre.
The strike by members of the National Association of Road Transport Owners (NARTO) and the Petroleum Tanker Drivers, which contributed to the fuel crisis, was recently called off following a meeting with the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, and other stakeholders. NARTO National President, Othman Yusuf, instructed members to resume petroleum loading activities promptly after the meeting in Abuja.
Despite the strike’s end, the repercussions linger as consumers grapple with soaring fuel prices and limited availability, exacerbating the already challenging economic conditions in the country.
