There has been a recent surge in the price of petrol in Abuja, with the cost per liter hitting an alarming N1,000. As a result, long queues have formed at petrol stations in the city, as motorists scramble to fill up their tanks before the prices rise even further.
There is a severe petrol shortage in Abuja, which has caused petrol retailers to sell the product at exorbitant prices of up to N1,000 per liter. This crisis is affecting the downstream sector of the petroleum industry and has led to long queues returning to the streets of Nigeria’s capital city.
Despite Nigerian National Petroleum Company Limited (NNPCL) denying the return of subsidy on the product, most filling stations in Abuja were closed on Tuesday, with few that were dispensing fuel charging higher prices.
Most independent retailers sold petrol at N625 per liter, while NNPCL dispensed at N613. Furthermore, black marketers selling petrol in yellow kegs have raised their prices from N750 to N1,000 per liter. These events came after President Bola Tinubu assured Nigerians that there would be no increase in the petrol pump price, despite the deregulation of the downstream market.