News

July 10, 2024

Oil marketers shut stations in Lagos as panic buying continues

Petrol scarcity

File: Queues at a filling station in Ogba, Lagos. PHOTO: Akeem Salau.

. Situation eases in Abuja

By Udeme Akpan, Energy Editor & Obas Esiedesa

Many oil marketers, yesterday, shut their filling stations, as panic buying continues in Lagos and its environs.

This is even as the petrol supply challenges facing the Federal Capital Territory, FCT, eased slightly following the supply of the product to many oil marketers.

However, checks by Vanguard indicated that many marketers who did not have the product closed their gates against motorists and other users of the product.
The checks indicated that those with commercial stocks, including some NNPC Ltd filling stations and major energy marketers were seen selling the product to consumers at between N560 and N700 per litre, yesterday.
Checks by Vanguard around the Central Area of the nation’s Capital showed that stations operated by Ardova, Conoil and TotalEnergies were attending to motorists.

With more stations opened the long queues and chaotic scenes witnessed in the past six days eased.

NNPC Ltd had said: “The adverse weather condition has also affected berthing at jetties, truck load-outs and transportation of products to filling stations, disrupting station supply logistics.

“The NNPC Ltd also states that due to the flammability of petroleum products and in compliance with the Nigerian Meteorological Agency (NIMET) regulations, it was impossible to load petrol during rainstorms and lightning.”

The NNPC also called on the public not to embark on panic buying as efforts were being made to flood the market with adequate supplies.