RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Fuel Scarcity Bites Harder in Lagos, Petrol Now Sells for N180 per Lite.

Rate Captain by Rate Captain
June 22, 2022
in Business
Reading Time: 2 mins read
A A
0
Fuel Scarcity Bites Harder in Lagos, Petrol Now Sells for N180 per Lite.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Fuel scarcity worsens in Lagos state as more filling stations shut their pumps to motorists and other customers. This persisting scarcity in Lagos raises fear for other states that get supplies from Lagos.

As this fuel scarcity hits harder, causing motorist to spend long waiting hours at filling stations, some fuel marketers are forcedto hike the price of the product to N180 per liter.

AlsoRead

Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

MTN Nigeria to Automatically Compensate Customers for Service Disruptions

Our analysts have noticed the continued queues outside filling stations along the Lagos-Ibadan expressway, Ikorodu road, Ikoyi, and other parts of Lagos as both commercial and private consumers of the product storm filling stations in anticipation of the removal of fuel subsidy and further hike in the price.​

Oil marketers lament over the shortage of supplies accompanied by an increased demand, and for customers, spending long hours in queues does them no good. Our analysts gathered this information as they interacted with the people.

According to Mr. Ayodeji Tayo, the NUPENG Lagos Zonal Council Chairman, in an interview with TV360 News, he stated that oil marketers rising cost of supplying the product cause the current situation. He said:  the long queue in filling station is as a result of IPMAN members who are complaining seriously about higher transportation and operational cost.

He further stress that amidst this situation, it is not advisable for government to remove subsidy now.

A commercial motorist at Obalende who preferred to comment anonymously stated that, ‘’yesterday I queued for about 3 hours before I finally got this fuel and I am not even sure if I will beable to buy another one when this one finishes’’.

Other Findings

Commuters are stranded at the various locations where the scarcity persist as commercial motorists have ceased the opportunity to raise the transport fair, causing people to incur a significantly higher amount of money to move about.

Our analyst confirmed the increment in transport cost at Onipan,Yaba, Ajah, with commuters being charged twice the usualamount to get to Falomo from Obalende.

Previous Post

World Bank say CBN’s policies continues to damage Nigeria’s business environment

Next Post

The mother of all economic crisis may be on its way

Related News

DMO offers two FGN savings bonds at N1000 per unit.

Highest Yields of 2026 Delivered in Q1 as 364-Day T-Bill Hits 18.47%

by Victoria Attah
May 18, 2026
0

Nigeria’s fixed-income market offered some of the most attractive returns in recent years during the first quarter of 2026, before...

Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report

by Victoria Attah
May 18, 2026
0

Nigerian banks are losing approximately N2.5 trillion in potential earnings every year due to the Central Bank of Nigeria’s high...

BREAKING: MTN Nigeria gets NCC approval to lease spectrum from NTEL.

MTN Nigeria to Automatically Compensate Customers for Service Disruptions

by Victoria Attah
May 14, 2026
0

MTN Nigeria has pledged to compensate millions of subscribers affected by network outages between November 2025 and January 2026, following...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Equities Market Hits Fresh All-Time High as Bulls Maintain Dominance

by Jide Omodele
May 14, 2026
0

The Nigerian equities market continued its impressive run on Wednesday, setting a new record high as strong buying interest in...

Next Post
The mother of all economic crisis may be on its way

The mother of all economic crisis may be on its way

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Exploring the data on multidimensional and monetary poverty in Nigeria.

Is the World Underestimating Nigeria?

May 21, 2026
Standard Chartered Bank Job Opening: Data Analyst

End Times : Standard Chartered to Cut Over 7,800 Jobs Worldwide Due to AI

May 21, 2026

Popular Story

  • NEC Affirms CBN $3 Billion Loan for Naira Stability

    CBN Denies Heavy Intervention in FX Market, Highlights Minimal Participation

    0 shares
    Share 0 Tweet 0
  • End Times : Standard Chartered to Cut Over 7,800 Jobs Worldwide Due to AI

    0 shares
    Share 0 Tweet 0
  • Is the World Underestimating Nigeria?

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

    0 shares
    Share 0 Tweet 0
  • Global Carbon Pricing Revenue Surpasses $107 Billion in 2025 – World Bank

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>