Fuel scarcity is building up in Lagos as many motorists find it increasingly difficult to buy fuel. We have discovered long queues in many filling stations; in others, no sale was made at all.
Earlier this morning our observers noticed a large number of people unable to get public transport causing many people to lament over the current situation. On the other hand, the long queues of vehicles for fuel were having impact on the free movement of vehicles.
This was confirmed by our analysts who visited some filling stations along the Lagos-Ibadan expressway, Ikorodu road, Lagos Mainland; Obafemi Awolowo way, Ikoyi and Obalende; Lagos Island on Sunday evening and Monday morning.
The scarcity, according to our findings, is caused by increased demand for the product due to fears that the Federal Government may remove fuel subsidy soon.
The long queues at the filling stations which have been causing traffic in those locations seem to have persisted on Monday morning.
As the shortage of fuel, particularly Premium Motor Spirit (PMS) persists; Lagosians will experience difficulty commuting, considering the recent ban of bikes on Lagos roads. In this regard, Lagos residents fear serious transportation issues in the coming days.
The National Operations Controller of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Mike Osatuyi told vanguard : ‘’the present scarcity is due to inadequate supplyof the product. Marketers have not been getting supply in the last three days. He also noted that the high cost of moving petro petrol tankers from one point to another is a contributing factor’’.
IPMANs President also commented that: ‘’the current N165 per liter pump price for PMS cannot fit in into the present realities without the pricing template being reviewed’’.
Analysts say that the cause of this fuel scarcity is both the supply side and demand side.
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