Many petrol stations that did not have petrol days back, now have the product, but sold above the official pump price of N97 per litre.

SINCE the return of fuel scarcity in Nigeria resulting in long queues in the last two weeks, most private petrol stations in some parts of Anambra State that have not been getting regular patronage over the years because they are not used to selling at the official pump prize of N97 per litre, have suddenly bounced back into big business.

Anger, pain and indignation were not enough to explain the feelings of thousands of stranded commuters going to their workplaces and areas of businesses from different parts of Lagos five days after queues returned to filling stations in Lagos. Many of them were seen sitting in groups discussing the effect of the fuel scarcity in Lagos Metropolis.

Social and economic activities are gradually grounding to a halt in Makurdi the Benue state capital and its environs as the scarcity of Premium Motor Spirit, PMS, or fuel which surfaced in the state about two weeks ago continues to bite harder with the product presently selling for as high as N250 per litre at the black market.

The suspension of Sanusi Lamido Sanusi from office as Governor of Central Bank of Nigeria (CBN) sent shock waves into the financial market but did not damage the market as previously feared. The shock was short lived as the Federal Government quickly named his successor. The CBN Governor-nominee, Godwin Emefiele, is seen by local and international investors as a steady hand who will maintain tight monetary policy in the face of currency weakness and avoid his predecessor’s controversial foray into politics.