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Fuel station queues worsen, PMS sells at N200/litre at black market

yinka ogunlami

March 1, 2016 12:09 PM

According to recent reports Premium Motor Spirit (PMS) popularly called petrol in Nigeria is currently being sold within N120 and N200 per litre by black market merchants in Lagos, Abuja and other cities.

Fuel station queue worsen, PMS sells at N200/litre at black market

According to recent reports

This comes against the official pump price of petrol which is priced at N86 per litre in Nigerian National Petroleum Corporation (NNPC) stations and sold at N86.50 per litre by independent marketers.

Read: Central Bank to award banks, merchants for contribution in cashless programme

Late hours of yesterday, February 29, 2016, NNPC tweeted that they have stepped up their collaboration with major oil marketers and other downstream industry players to put a stop to emerging oil queues across the country.

According to the report NNPC has increased the daily fuel supply to filling stations in the Abuja (Suleja Depot) & Lagos area by an additional 50 trucks while supply in Port Harcourt, Calabar,Kano & Kaduna have also been increased to ensure availability of petroleum products across the country.

Read: 4 banks sanctioned last year for not complying to e-payment directive

yinka ogunlami

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