One Litre Of Fuel Sells For #500 As Fuel Scarcity Worsens
The scarcity of petrol worsened on Friday in Ibadan, the Oyo capital, with long queues dotting the few filling stations where the product is available.
A visit round the metropolis, showed that
the scarcity had also led to a hike in the
price of the product.
The price ranged from N120 to N150 per
litre in some filling stations while it was
being sold for about N500 per litre in some black market outlets.
The scarcity of petrol also led to a hike in
transport fares in many motor parks in
The fare to Lagos by taxi, which used to be
N1,250 is now between N1,500 and N2,000.
Similarly, the same trip by bus which used
to cost N800 is now between 1,300 and
N1, 500 depending on final destination in
But Mr Olakunle Ogunlana, the Operation
Controller, Department of Petroleum
Resources(DPR) in Ibadan, said the current scarcity was a temporary development.
He said that the Minister of Finance, Mrs
Ngozi Okonjo-Iweala, had given an assurance that the issue would be resolved soon.
There had been scarcity of petrol at fuel
stations across the country due to protest
by oil marketers over non payments of
The Federal Government , however, on
Thursday paid the sum of N156 billion to
the oil marketers in a bid to tackle the
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