There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
There were indications, yesterday, that the prolonged shortage of Premium Motor Spirit, also known as petrol, is taking a severe toll on the economy with motorists buying petrol between N300 and N350-litre in Abuja on Monday, July 11, 2022.
The lingering fuel scarcity has resulted in high transport fares, crippled the movement of goods and persons from one place to another, disrupted activities in industries, increased cost of production and prices of products, which may eventually make locally produced goods non-competitive in the international market.
Specifically, in most cities, especially Abuja and Lagos, the shortage triggered over 100 per cent rise in transport fares, thus worsening the nation’s Ease of Doing Business.
Also, hundreds of roadside petrol black marketers were sighted in various locations within the Federal Capital Territory and Lagos, trading the commodity between N350 and N400 per litre, depending on location.
Commercial transporters took advantage of the situation to hike fares to worsen the woes of the people as fare from Kurudu of Mararaba/Nyanya axis, a border town between Abuja and Nasarawa, to Garki district in the city centre, which used to be between N300 and N350, was raised to N1, 000 yesterday.
Also, the National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, however, stated that more trucks had loaded products and were heading Abuja.
He told our correspondent that “we are hopeful that very soon the queues in Abuja and environs will clear if all things remain equal and there is no continued agitation for payment of bridging claims.
“On price disparity, this is because many marketers bought their products at higher rates above what was approved by the government and they have to get the required margin in order to remain in business.”
Kekeocha added, “However, there has been no official pronouncement of any review in petrol price whether upward or otherwise. So the official price of petrol still remains at the N165/litre government-approved rate.”
