The current fuel scarcity is taking its tolls on businesses across major cities in Nigeria, BusinessDay learns.
Consumer goods within major cities have seen up to 20 percent increase in prices, just as artisans complain that they are losing revenues because they spend so much time looking for petrol for their generators, instead of being at their shops attending to customers.
The artisans, such as those operating hairdressing salons, barbing salons, business centre owners and printers, depend more on petrol-powered generators to work.
Their problem is further compounded by the lack of electricity supply, which has become more deplorable in the last few weeks with major areas in Lagos going weeks without power supply from the electricity distribution companies.
Comfort Adaobi, who operates frozen foods business, said: “I struggled to get some money, rent a small shop, put a deep freezer and sell frozen foods, but there is no power for three weeks and now there is fuel scarcity too.”
This situation has subsequently affected some food items, according to some food vendors.
Also, the fares within the metropolis of Lagos, Port Harcourt and Abuja, have gone up, and in some cases by about 50 percent.
Ali Aminu, a foodstuff trader, said: “The transporters that help us to convey food items to various markets within Lagos are complaining of not getting fuel, and when they get it, it is black market.”
Transport fare for inter-states has slightly increased. For instance, from Lagos to Kogi State that used to be N2,500 has increased to N2,800, while those travelling from Lokoja in Kogi State to Akure in Ondo State, have had their fares increase by about 20 percent. These fares may further go up should the situation persist.
Fuel stations monitored in Lagos, Kwara, Kaduna, and Port Harcourt saw long queues impeding the free flow of traffic and loss of man-hours. The ubiquitous black marketers were seen peddling petrol in jerry cans.
Filling stations at Ikorodu and other suburb of Lagos sell petrol at N110 – N120 per litre, while it goes for between N140 – N160 on the black market. However, major filling stations like Forte Oil, MRS and Conoil in the metropolis are selling at the official rate of N86.50 per litre.
Meanwhile, the NNPC has released a statement announcing that Ibe Kachikwu, minister of state for petroleum resources, had activated an intra-ministerial joint monitoring task force made up of officials of Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA) and Pipelines and Product Marketing Company (PPMC), working to end the problem.
“Within the last 48 hours, we have received six cargoes of petrol, and from March 1, we shall begin to receive a cargo of petrol daily. We appeal for understanding and support from members of the public, as we work towards a stable supply of products across the country,” according to the statement.
