Scarcity: Why Petrol Could Sell N800/Litre, Marketers Give Crucial Information to Nigerians

Scarcity: Why Petrol Could Sell N800/Litre, Marketers Give Crucial Information to Nigerians

  • Nigerians have been asked not to be surprised in case petrol products start selling at the rate of N800
  • The position was disclosed by oil marketers while reacting to the plans by the federal government to remove subsidy
  • According to the marketers, it is compulsory for the federal government to put necessary measures in place

A message has been sent to Nigerians by oil marketers. According to them, the removal of subsidy for Premium Motor Spirit, called petrol, by the government without taking necessary measures will lead to scarcity of the product.

The marketers claimed that as a result of this, Nigerians could be forced to buy the product for as high as N800/litre, Nigerian Tribune reports.

Fuel scarcity in Nigeria
Marketers say petrol could sell for N800 a litre. Photo credit: Opeyemi Adesina
Source: Twitter

Why Nigerians could pay N800/litre for petrol

The secretary of the Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, says petrol will be scarce if the subsidy was removed without appropriate measure, The Punch added.

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He said:

“If the government fails to take the appropriate measures, and they say they want to remove fuel subsidy, the situation will be worse than this, the masses will suffer. How can you remove subsidy and you don’t have this product (petrol).
“If the government removes subsidy, where is the product? If you are removing subsidy, maybe by that time, the way diesel is sold at between N800 – N900/litre, we could be buying petrol at N800/litre, if not more than that.”

Groanings as filling stations sell fuel at N350 per litre in Lagos

Recall that reported that in the last two months, Nigerians have been enduring frustrating queues caused by scarcity and a hike in the pump price of petrol. Many filling stations in Lagos, Nigeria's commercial capital, are selling petrol for as much as N350 depending on the location and the time of the day.

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The scarcity intensifies by the day, with motorists and other consumers of the product spending long hours at filling stations and wasting manpower hours that could have been put into more productive activities.

Earlier last week, it was reported that the federal government secretly increased the pump price of petrol to N185 per litre. Even though the Federal Government through the Minister of State for Petroleum Resources, Timipre Sylva, swiftly denied the report, the price of the product still remained on the high side, selling for as much as N500 in cities like Uyo, Port Harcourt and Owerri.


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