Current Date: 20 Apr, 2024

Black market gasoline costs N300 per liter due to scarcity.

The lack of supply in many parts of Lagos on Tuesday caused the price of gasoline on the black market to rise to N300 per liter, forcing many drivers and other users to do so.

The activities of black marketers have increased around the gasoline lines at the filling stations. According to reports, many gas stations in Lagos had long lines outside; some sold N200 per liter.

Black market gasoline costs N300 per liter due to scarcity.

On Monday, BusinessDay noted that a few gas stations in the Lagos area closed down or had lines in the evening.

Ngozi Okafor, one of Satellite Town's residents and a petrol black marketer, claims she purchased fuel from an Eterna gas station in Alakija, Satellite Town, Lagos.
She said it was sold for N190 per liter and sold to locals unable to buy petrol during the day for N300 per liter in the evening.

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A resident of Satellite Town named Nwaze Chukwuma told reporters that he arrived home late due to the bus drivers' strike and was forced to purchase gasoline on the black market. As a result, he claimed, "I spent N4,800 to buy gasoline from the black market at N300 per liter.

Another black marketer, Olaleye David, claimed to BusinessDay that a Petrocam filling station in Abule Ado sold gasoline for N220 per liter instead of the N250 he was charging.

Excellence Chukwuma Chukwunaedu

Excellence Chukwuma Chukwunaedu

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