Petrol Prices Surge To ₦1200 As 240 Million-Litre Vessels Arrive

Petrol Prices Surge To ₦1200 As 240 Million-Litre Vessels Arrive

In a bid to address the prevailing fuel scarcity plaguing Nigeria, the Nigerian National Petroleum Company Limited (NNPCL) has initiated the offloading of 240 million litres of Premium Motor Spirit (PMS), commonly known as petrol. This significant shipment aims to ease the ongoing fuel shortage that has gripped the nation……READ ALSO IPMAN: Petrol Prices At Filling Stations Should Be ₦900 Per Litre, Claims Subsidy Returned By Tinubu Gov’t

The imported petrol, delivered through five vessels and offloaded into five depots, marks a crucial step in mitigating the crisis. Ayo Cardoso, the South-West Regional Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), confirmed this development during an interview with Punch.

Despite these efforts, challenges persist. Logistical issues previously hampered fuel distribution, leaving many filling stations in Lagos and other regions closed. This has exacerbated the plight of citizens, who continue to face difficulties in accessing fuel.

Adding to the complexity, the NNPC’s directive to prioritize fuel distribution to the Federal Capital Territory (FCT), Abuja, has led to increased pump prices nationwide. Petrol is now selling for between ₦650 and over ₦1,000 per litre at various filling stations. Black marketeers are exploiting the scarcity, charging prices exceeding ₦1,200 per litre.

The escalation in fuel prices has compounded hardships for many Nigerians, particularly as the new work week commenced. The reopening of public schools in some states has further strained parents, teachers, and school owners, who now contend with elevated transportation costs.

Cardoso reassured the public of the NMDPRA’s commitment to monitoring the situation closely and ensuring fair fuel distribution across all regions. With vessels offloading 240 million litres of petrol and efforts underway to normalize operations, Cardoso expressed optimism that the fuel crisis will soon abate.

Fuel scarcity has spread across several states, including Abuja, Lagos, Ogun, Niger, Nasarawa, and Gombe, underscoring the urgency of concerted efforts to address the situation.

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