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

their claims.

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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