Reports say fuel is selling for as high as N300 in the black market, while it is selling between N110 and N150 in filling stations across Lagos state.

The national operations controller of IPMAN, Mike Osatuyi, said “There is supply gap over a period of time now, the NNPC imports 75 per cent of the petrol needs of the country. I can only say you should tell them to improve on imports. They have access to forex because they do the SWAP deal and therefore, are not constrained by the challenge. But for marketers, it is difficult to source the dollar and therefore not profitable to import under the present condition.”

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Also, the national chairman of the Petroleum Tankers Drivers (PTD), Salimon Akanni Oladiti,  said “Government is responsible for this problem, because if they bring enough oil into the country, we as distributors are ready to sell it out. It’s so sad that we are one of the largest producers of oil, but we are still suffering from scarcity.”