Tinubu’s ‘Subsidy is Gone’ Pronouncement Triggers Nationwide Petrol Hoarding, Price Hike

Our Correspondents

The chaotic reaction to the removal of petrol subsidy announced by President Bola Tinubu on Monday continued yesterday, with many filling stations across the country hoarding the product, while the few that opened to customers sold at exorbitant prices

Findings by THISDAY in states across the country showed that fuel retailers shut their gates to motorists, thus worsening the petrol scarcity nationwide.

Tinubu had during his inaugural speech as the 16th president of Nigeria, on Sunday, at the Eagle Square, Abuja, declared that subsidy was gone, adding that there was no provision for petrol subsidy in the 2023 budget he inherited.

“The fuel subsidy is gone. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions”, Tinubu had said.

However, few hours after the president’s announcement ditching petrol subsidy, marketers of petroleum products started raising their pump prices from the official N185 and unofficial N200 per litre to between N350 and N600 across the country.

Lagos State: Between N500 and N800 Per Litre

In Lagos, commuters were left stranded yesterday as fare prices skyrocketed. THISDAY monitoring around some parts of Lagos revealed that several filling stations, apart from Total and NNPC, were selling way above the official price.

Checks from filling stations around Ikorodu, Owode Onirin, Ketu, Lagos-Ibadan Express Way, Alausa, Ogba, Ojota, visited showed that the filling station were selling the product between N500 and N800 per liter with long queues, thereby causing heavy traffic. This was just as many filling stations were still hoarding the product with hopes that a new price regime would be announced soon. Consequently, transport operators within the state have also raised their prices to as high as N1000 for places they would normally charge N200 or less.

Niger State: Between N250 and N300 Per Litre

Motorists in Niger State had herculean tasks getting fuel to run their vehicles as long queues surfaced at most of the petrol stations in Minna the state capital.

Though the filling stations were selling petrol to motorists majority of them were dispensing only through one pump a situation that has made the queues to move slowly

Apart from the Nigeria National Petroleum Company NNPC outlets which as at press time was selling at N197 per litre other stations were selling at between N250 and N300 per litre.

As a result of the rowdiness at the filling stations the black markets have resurfaced some of them operating almost opposite the official filling stations and were selling far above the official litre price.

Borno & Yobe States: Between N300/N400 Per Litre

Long queues emerged yesterday at filling station in Maiduguri, the Borno State capital and Damaturu, the capital of Yobe State.

In Maiduguri, queues were seen at the few filling stations that were still selling fuel the product for N300 per litre. Most of the filling stations were believed to be hoarding the product and were using the cover of the night to sell to operators of black market, who subsequently sell a litre for N400.

In Damaturu, the capital of Yobe State, most of the filling stations were closed. They were believed to be hoarding the product, gauging the situation to know what to do next after the removal of the fuel subsidy was announced by the new President. He said the people of the town woke up to find out most of the filling stations not selling fuel and the little that were selling do so at the price between N300 and N400.

Adamawa State: N350 to N600 Per Litre

Adamawa State yesterday experienced fuel scarcity and hike in price of petrol products. The product was sold between N350 to N400 per litre within the state capital.

Checks at some petrol station in the state indicated that  Jezco , AA Rano sold products for N350 per litre, while other like Ondo, Total at Maidoki roundabout and Jimeta  Market respectively were completely shutdown

However, at the borders areas of the state like Mubi and Maihia Local Government Areas which has border with Cameron, petrol was sold for between N500 to N600 per litre.

Kwara: N650 Per Litre

Fuel scarcity yesterday persisted  in  Ilorin, the Kwara State capital  as many petroleum filling stations did not open for business. Already, the pump prices of fuel has increased from N195 per liter to N650 per liter in the state.

A visit by THISDAY to some filling stations in Ilorin, yesterday, showed that, only few of the filling stations were selling, as vehicle owners had to queue for more than three hours before getting fuel.

It was also gathered that most filling stations located on major roads, starting from Mandate Estate Adewole, Olorunshogo, Geri-Alimi, Airport Road, Sawmill, Asadam, Irewolede, Taiwo road, Offa Garage and many areas did not sell.

Reports from Offa, Omu-Aran, Oro, Erin-Ile, Oko all in Kwara South senatorial district of the state, independent marketers were dispensing fuel between the prices of N450 and N600 per liter. Also in Lafiagi, Shonga, Gure, Gbugbu, Bode-saadu towns in Kwara North senatorial district, independent marketers were dispensing fuel between N500 and N650 per liter.

Cross River: N500 Per Litre

Most of the fuel stations in Calabar, Cross River state capital closed shop and stopped selling their products to motorists and other users of the commodity yesterday. But few of the fuel stations that were still selling to customers had to contend with long queues of motorists, and many of the people buying fuel in jerricans for domestic and commercial purposes. As of Tuesday, they were selling the product for between N400 and N550 depending on the discretion of the marketers.

While a few of the major stations along MCC and Murtala Mohammed Way sold for between N400 and N500, a few others, especially those in Calabar South sold for between N500 and N500 even with long queues in the stations.

Ogun State: N400

Most filling stations in Abeokuta, Ogun State, yesterday locked their gates against motorists. Checks in the state capital, revealed that few Independent Petroleum marketers that were selling fuel did so, to their customers at prices between N230 and N400. Even at that, long queues, were noticed at the filling stations.

However, queue at the NNPC Mega Station, on the Presidential Bullvard, stretched for more than one and half kilometers as the station sold at N195 per litre to motorists.

The situation, has led to sharp increase in transport fares as commercial taxi drivers, now charge N250 for a distance that hitherto cost N100.

Ondo State: Between N350 and N500

Residents of Ondo State have been groaning over the price hike and scarcity of petrol.

As early as 6am, yesterday, THISDAY observed that long queues had returned to petrol stations in Akure, the state capital, Owo and similar situation was reported in Ore, in Odigbo Local Government Area as motorists engaged in panic buying.

THISDAY also observed marketers and operators increased petrol pump price and were selling between N350-N500 per litre. The sharp increase in fuel pump price was almost 100 per cent. Two petrol stations visited in Ijoka road and Akure-Ilesha expressway were selling between N350- N500.

Enugu State: Between N350 and N500

In Enugu, some filling stations which opened for operations, yesterday, especially in the Abakpa area of the state sold their products between N350 and N500.  However, there was no scramble for petroleum products as residents of the state sat at home to observe the 2023 Biafra Remembrance Day Celebration. Many businesses were locked up and Streets empty.

Delta State: Between N500 and N700 Per Litre

Most petrol stations across Delta State have increased their pump prices from between N220 and N700 per litre depending on their locations.

THISDAY monitoring of the development yesterday revealed that some fuel stations in Warri, Ughelli, Sapele, Agbor and Asaba, the state capital revealed that fuel were being sold for N500. In some rural villages, petrol was sold for as much as N700 per litre. At one of the fuel stations along Deco road in Warri where fuel was being sold at N220 per litre, the fuel attendants had a hectic time attending to customers as both motorists and black market operators jostled to be attended to. Already, the action of the fuel marketers is having untold effect on transportation as commercial vehicle operators have increased transport fare by 100 percent.

Ebonyi State: N550 Per Litre

Many fuel stations were shut down in Ebonyi state, leading to an increase in the price of petrol to N550 per litre. Some of the available fuel stations recorded long queue while black marketers sold N750 per litre.

About five stations were selling fuel in the whole of Abakaliki capital city. When THISDAY visited NNPC mega station, it was also not selling fuel. The development has also increased the cost of transportation in the state. A source told THISDAY that some of the fuel stations that were shutdown have petrol but dealers decided to hoard the products.

Bayelsa State: Between N500 and N600 Per Litre

Residents, commuters, students, civil servants and many Bayelsans were left stranded early yesterday morning as they woke up to the sudden changes in the price of petrol and subsequent increase in the transport cost. The price of petrol which was sold at between N195 to N210 in the morning of 29th May, suddenly skyrocketed to between N400 and N500 in evening and yesterday morning. It went up to between N500 and N700, depending on the marketers.

Students and civil servants who woke up in the morning to go to school and offices respectively, were left stranded for hours as commercial drivers also adjusted their prices to reflect how much they buy the fuel.

Most filling stations quickly closed up and stopped selling the products to consumers but they resumed late at night, selling only to black marketers, who now sells to consumers at between N700 and N800 per litre.

Ekiti State: N800 Per Litre

All petrol stations in Ekiti State were under lock and key since early morning of Tuesday. Consequently, transportation per drop which used to be N100 was increased to between N300 and N500 per drop while black marketers took over the scene, selling petrol at between the rate of N800 per litre and N1,000 per litre in Ado Ekiti, the Ekiti state capital.

Katsina State: N350 Per Litre

Many filling stations in Katsina metropolis were shut yesterday, leading to lengthy queues by motorists in search of petrol. The ever-busy filling stations in the state capital, Danmarna, AA Rano, Matrix and the newly inaugurated Al-Muazzam Global Links Nigeria Limited, shut their doors to customers, leaving many motorists stranded in the state. Some of the filling stations which were seen dispensing the commodity, were selling it at the cost of N350 as against the N210, N215 and N220 prices, while government-owned filling stations (NNPC) maintained their normal price of N185.

Meanwhile, black marketers in front of the filling stations were selling at between N500 and N650 per litre.

Abia State: Between N550 and N700 Per Litre

In Abia State, petrol stations in Umuahia, yesterday, shut their gates to customers with the pretence that fuel was not available. The few stations that were opened, sold the product at between N550 and N700 per litre. On Monday, petrol sold at between N230 and N250 before the surprise announcement of subsidy removal.  Expectedly panic buying ensued resulting to long queues of desperate motorists, tricycle (Keke) operators jostling to buy the little they could afford to keep their vehicles moving.

Kano, Jigawa States: N300 Per Litre

Queues persisted in Kano, Jigawa state and people scrambled to get petrol for their cars and generators. In  some places like Gyadi Gyad, Zaria road, Maiduguri road, and BUK road, long queues were spotted with hundreds of cars waiting to buy the products.

When visited some of the fuel stations in the state, the majority of them were found locked up, with very few selling fuel at N300 per litre. THISDAY spoke with a fuel attendant said they were directed by the filling station owners to raise the price to N300 per litre.

In Jigawa state, most of the filling stations were closed and stopped dispensing fuel.

Bauchi: Between N220 and N355 Per Litre

In Bauchi, THISDAY checks revealed that many private filling stations were not dispensing the product as of the time of filing this report. As of yesterday, the product was being sold at the rate of N220 per litre by some major independent marketers like Shafa Petroleum and Matrix that were dispensing to buyers.

Other minor independent marketers however adjusted their pump price to between N350 and N355 per litre. Some of the residents who spoke to THISDAY, argued that the new administration was starting on a very wrong footing knowing that Nigerians went through hard time for eight years under the immediate past administration.

Rivers State: Between N500 and N600 Per Litre

In Rivers State, many filling stations suspended sales of product, while those still selling, increased their pump price to between N500 and N600 per liter. Checks by THISDAY at some of the filling stations in Port Harcourt, revealed that NNPC outlets within the city were selling at N187 per litre.  A major marketer that was not affected by the announcement was MRS Patrol as its outlet along Aba road by the state headquarters of Federal Road Safety Corps (FRSC), as at 6pm, yesterday, was still selling fuel at N190 per litre. But that was not the same with other major marketers like Conoil at Education bus/stop, Port Harcourt and Royal Dynasty along Ada-George Road, Obio/Akpor which at the announcement on Monday, increased their petroleum pump price to N500 per litre.

Imo State: N600 Per Litre

Almost all the filling stations in Imo State were under lock and key and the few that managed to open experienced long queues with the pump price of a litre adjusted to upward of N600.

Before the presidential inauguration speech, pump price of fuel was sold at N220 per litre and there was no fuel scarcity as all the filling stations were selling fuel normal.

Imo residents began to experience fuel scarcity and increase in the pump price as from 4pm on Monday and because of the usual Monday Sit-At-Home coupled with the Public holidays declared by the federal government to mark the swearing-in of the new president and governors, many residents did not go out for last minute rush for the fuel.