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Millions of Nigerians are complaining as petrol sells
above N110 and queues by motorists continue to grow
across the country.
This is against an official price of N87 per litre as the
Federal Government subsidises Premium Motor Spirit
(petrol) with N45.28 on every litre, according to latest
figure from the Petroleum Products Pricing Regulatory
Agency.
In most fuel stations across the country, Nigerians have
been buying petrol between N110 and N160, despite
Buhari’s recent assurance that his administration would
not remove fuel subsidy.
In Imo State, one of our correspondents who went
round Owerri, the state capital, confirmed that most of
the filling stations were selling above the pump price.
A motorist, Mr. John Okorie, who expressed
disappointment at the N110 pump price, said he had
expected Buhari would frontally tackle the persistent
fuel crisis upon his assumption of office.
“If there is anything Buhari has to do to stabilise
Nigeria, the first thing is to ensure regular power supply
and keeping the pump price of petrol at N87,” he said.
In Ondo State, the product sells for N120 per litre in
Akure and other towns.
A motorist, Mr. James Fayehun, blamed the situation
on the President’s failure to sanction dealers who have
been defaulting on the regulated price.
“I don’t blame the dealers that sell above the pump price.
At least we have a government in this country which
cannot claim to be ignorant of the development,”
Fayehun said.
Meanwhile, experts have said that petrol subsidy arrears
have continued to rise, in spite of the hike in the price of
petrol by marketers. About two months ago, it was
revealed that petrol subsidy arrears had hit N291bn.
The Executive Secretary, Depot and Petroleum
Products Marketers Association, Mr. Femi Adewole,
in a telephone conversation with one of our
correspondents, said he did not have the current subsidy
claims owed oil marketers, but noted that the figure had
increased.
He said, “I don’t have the figure, but I know that what
former Minister of Finance, Dr. Ngozi Okonjo-
Iweala, handed over was N291.7bn. We have imported
some cargoes after that and PPPRA has yet to advise
our members because it does the calculations.”
One of our correspondents, however, noticed that the
product was not available in most filling stations in Edo
State thereby leading to long queues by motorists at the
few stations that were dispensing petrol.
It was also discovered that most filling stations were
selling between N110 and N115 in Minna, the Niger
State capital; and Asaba, the Delta State capital.
A manager in one of the filling stations on the Asaba-
Benin Expressway blamed the sale of the product above
the pump price on its short supply.
The commodity sells for between N110 and N130 per litre
in Kano State, depending on if it is a major or an
independent marketer.
According to investigations, major marketers sell the
product for N110 per litre, while their independent
counterparts sell for between N120 and N130 per litre.
Independent marketers in Calabar, Cross River State,
pegged the price of PMS between N105 and N110 per
litre.
In Osun State, most petrol stations sell a litre of petrol
for N110 even though the price stated on their fuel
dispenser is N87.
A mega station belonging to the Nigerian National
Petroleum Corporation along Ring Road in Osogbo, the
Osun State capital, which sells a litre of petrol for
N87, attracts long queues of motorists jostling for fuel.
Some residents expressed their disappointment with the
situation, however.
One of them, Mobolape Omotoso, said, “Petrol is one
of the essential products in Nigeria, but despite this, its
price is not stable. We are buying it between N110 and
N120 per litre.”
The price of the petrol in Bauchi State fluctuates as the
price ranges between N87 and N110.
Major marketers sell the product for N87 while the
independent marketers sell it for between N103 and N110
per litre.
A civil servant, Abdu Saleh, who expressed displeasure
with the development, called on the Department of
Petroleum Resources and other relevant agencies to
ensure that marketers comply with the government’s
directive.
One of our correspondents observed that a few filling
stations were selling the product for N110 per litre in
Ilorin, the Kwara State capital.
Reports from hinterland indicated that the product was
being sold for between N120 and N150 per litre.
The Zonal Chairman, Western Zone of the Independent
Petroleum Marketers Association of Nigeria, Alhaji
Debo Ahmed, blamed the hike and differential price of
petrol on the insufficient supply of the product.
He said many fuel depots were not functional, while
appealing to the Federal Government to make the depots
functional to reduce the cost incurred in transporting the
product.
In Oyo State, there is hardly any filling station selling
petrol at the official pump price of N87 per litre. At
least, 95 per cent of the major filling stations no longer
sell the product as they claim they cannot get the product
at rates that will make them sell at the official pump
price.
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