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

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

Air Peace and United Nigeria Claim Over N2 Billion Losses After Union Disruptions

NGX Loses N1.17 Trillion as Profit-Taking Hits MTN Nigeria and First HoldCo

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

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

by Jide Omodele
August 17, 2026
0

The Nigerian Exchange has postponed the introduction of its revised pricing methodology for equities trading, one day before the new...

Air Peace Chairman Raises Concern Over Delay in Accessing $14 Million Held by CBN

Air Peace and United Nigeria Claim Over N2 Billion Losses After Union Disruptions

by Victoria Attah
August 17, 2026
0

Two Nigerian airlines, Air Peace and United Nigeria, have reported combined losses exceeding N2 billion following the disruption of flight...

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

NGX Loses N1.17 Trillion as Profit-Taking Hits MTN Nigeria and First HoldCo

by Jide Omodele
August 12, 2026
0

The Nigerian equities market reversed course on Tuesday, August 11, 2026, ending a four-session winning streak as investors locked in...

Nigerian Stock Market Witnesses N35 Billion Dip in Market Cap as Key Stocks Decline

NGX Closes Week Higher at 245,573 Points as Banking Stocks Rally

by Jide Omodele
August 10, 2026
0

The Nigerian equities market ended the week of Friday, 7 August 2026, in positive territory, supported by strong buying interest...

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

Charges on cash transactions skyrocketed by POS agents.

E-Payment Transaction Volume Falls 9.2% as Value Rises to N1.053 Quadrillion in Q1

August 27, 2026

CBN Offers N700 Billion Treasury Bills in Second and Final August Auction

August 27, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    0 shares
    Share 0 Tweet 0
  • EFCC Facilitates $60 Million Nestoil Debt Payment to Creditor Consortium

    0 shares
    Share 0 Tweet 0
  • Fair Money Job Opening: Regional Sales Manager

    0 shares
    Share 0 Tweet 0
  • World Bank Report Reveals Nigeria’s logistics performance drops massively.

    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}
?>