Market News
Passengers lament as NNPC adjusts fuel price to N855 - BUSINESSDAY
Fuel prices have increased, leading to scarcity in major filling stations in Lagos, which has led to transport price increase for passengers plying the roads.
As of the time of this report, BusinessDay findings show that a litre of fuel now costs N855 at NNPC in Ikoyi and they have not started selling to people.
“The fuel queue at NNPC located at Awolowo Road stretched to the two sides of the road, getting to the FIRS office and past the military hospital. For the filling station located in Alfred Rewane, Ikoyi, its queue has reached Bayo Kuku,” Nduka Kingsley, a tech expert in his mid-thirties shared with BusinessDay.
An electrician on the bus en route Ikoyi said, “Everyone will bear the cost, anyone that needs my services will also bear the pain of my transportation fare increase.”
BusinessDay findings reveal that most filling stations in Abuja and Lagos remain shut, forcing commercial motorists and private car owners to form long lines at the few outlets still operating.
In Ikeja, Maryland, Ikorodu, and other parts of Lagos, petrol prices have soared to as high as N1,000 per litre, intensifying the struggle for fuel and this trend is also observed in Ogun State and even in the nation’s capital, Abuja.
Read also: Petrol price seen hitting N1,300/litre on NNPC cash crunch
“I was told the bus fare had increased to N300 when I got into the bus, other passengers in the bus complained that this is a motive to increase the fare price as drivers. The extra fare can still be used for something else which is why I am hurt,” Ayomide Babatola, an SEO specialist in her mid-twenties, said.
“If transporters can charge this high, I would start selling a spoon of rice for N1,000,” a food seller in the Obalende axis of Lagos said as she decried the unprecedented increment in fuel prices.
