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Fuel Scarcity Looms As Depots Increase Petrol Price To N720 Per Litre

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A fuel shortage is emerging in Lagos and other parts of Nigeria, prompted by private depot owners increasing the wholesale price of petrol from N630 to N720 per liter.

This development comes as fuel scarcity worsens in Abuja and surrounding states, with some gas stations selling petrol as high as N900 per liter.

According to The Punch, many gas stations in Lagos, Ogun, and other states have depleted their fuel stocks, refusing to purchase fuel from private depots at inflated prices.

Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria, stated in an interview that numerous gas stations were closed due to empty tanks, urging the Nigerian National Petroleum Company Limited, the sole petrol importer, to provide explanations for the shortage.

“Those that shut their stations do not have fuel to sell. When you don’t have fuel, you cannot open your station. That is the problem. You know the NNPC is the sole importer of this product. I think it is in the best position to tell us what is actually going on.

“Currently, independent marketers cannot buy what the private depots are selling. They are selling fuel between N715 and N720 per litre. How much will marketers sell the product? Look at the cost of bringing it to their depots; with transportation and other depot expenses, it will be too costly for them. That is why the stations are shut down. Some marketers refuse to go and buy because they know the masses cannot afford high-priced petrol in this economy. That is the situation for now,” the IPMAN leader stated.

It was gathered that the third parties, who are private depot owners, used to sell PMS to independent marketers at the rate of N630-650/litre before now, while the NNPC sells petrol to major marketers at a price below or around N600.

On many occasions, leaders of IPMAN have appealed to the NNPC to supply them with petrol directly like they do to major marketers, but the NNPC has yet to yield to that call.

Fashola appealed to Nigerians to avoid panic buying, saying they should buy what they need so that the fuel in circulation could go round.

It was gathered that the major marketers sold petrol below N650 while the independent marketers sold between N750/litre and N800/litre.

Multiple officials confirmed to one of our correspondents that officials of the Nigerian National Petroleum Company Limited stormed the various depots in Apapa on Friday, mandating depot owners to prioritise fuel supply to the Federal Capital Territory, Abuja, where the fuel queues were initially noticed on Friday.

Abuja prioritised

On Saturday and Sunday, many trucks were reportedly directed to Abuja to reduce the queues in the FCT, leaving Lagos and other places with little supply.

One of the officials disclosed that the NNPC was rationing PMS to depots due to the fuel supply gap.

This is coming barely three days after a report by Reuters claimed that Nigeria’s debt to suppliers of Premium Motor Spirit had surpassed $6bn, doubling what it was since early April, as the NNPC struggled to cover the gap between fixed pump prices and international fuel costs.

Although this was denied by the NNPC, the Reuters report stated that the national oil company began struggling early this year when late PMS payments surpassed $3bn.

The company, it said, had yet to pay for some January imports which traders put between $4bn and $5bn.

“The only reason traders are putting up with it is the $250,000 a month (per cargo) for late payment compensation,” one industry source said.

At least two suppliers were said to have stopped participating in recent tenders after hitting self-imposed debt exposure limits to Nigeria, meaning they will not send more PMS until they receive payments.

It was reported that Nigeria’s tenders to buy gasoline in June and July were smaller, traders told Reuters. NNPC will import via tender about 850,000 tonnes in July, according to the Reuters report quoting sources, down from the typical one million tonnes in previous months.

Meanwhile, findings show some marketers have refused to supply petrol to independent marketers, who own the larger percentage of the filling stations in Nigeria. This, it was gathered, was because the depots/marketers were getting limited supplies from the NNPC.

“Currently, we focus on our filling stations. We get less than 50 per cent of what we usually get from the NNPC now. So, we make sure we feed our stations first before we consider selling to independent marketers. That is why most of them are out of stock. You know they don’t have access to the NNPC and the little we get is not even enough for our stations,” one of the depot operators said on condition of anonymity because was not authorised to speak on the matter.

The operator mentioned that the few depots selling to IPMAN members sell at higher prices as demand overshoots supply.

Queues were returning to Lagos as of Sunday, creating fears among residents, who have yet to forget the fuel scarcity that almost grounded the economy in May.

It was observed in some fuel stations across the state, that some fuel stations had adjusted the prices of PMS upward.

Fresh queues for the product surfaced in Abuja, parts of Niger and Nasarawa states on Friday, following the closure of many filling stations operated by independent marketers.

Dealers closed their retail outlets due to their inability to access petrol as a result of the hike in the ex-depot price of the commodity to N710/litre by private depot owners.

Motorists besieged the few stations that dispensed petrol on Friday; particularly those operated by the Nigerian National Petroleum Company Limited and some major oil marketers in Abuja and neighbouring states.

It was noted that the situation was extending to Lagos. Out of about 10 fuel stations along the Ikotun to Egbeda axis, only about two stations were dispensing at the time of filing this report.

At Ikotun, one of the outlets belonging to the NNPC that was selling for N568 per litre had long queues while others were not dispensing. At the Igando-Ikotun axis, only an outlet belonging to Petrocam sold at N820 per litre.

Long queues

It was also observed that an outlet belonging to TotalEnergies along Mushin Road, in Isolo, sold fuel at N615 per litre with a long queue of waiting buyers.

Meanwhile, a Technoil filling station at Isolo Bustop was not selling fuel at the time of filing this report. Also, the NNPC filling station on the same axis that sold for N568 per litre was crowded with cars.

It was further observed that there were no fuel attendants at an AP filling located along Okota Road, as the outlet was closed at the time of filing this report.

Al Morouf filling located along Ilasa Road only sold to a few customers.

A motorist who simply gave his name as Mr Emmanuel Anyebe, said, “They said they have removed fuel subsidy and by that, we assumed that what happened in the telecommunication industry would happen to the oil and gas sector, but it didn’t. It is not as if there is scarcity, there is no scarcity anywhere. I asked at the fuel station why the queue all they could say was that they had not been able to get the product. He said that about six tankers they ordered in the last two weeks were only able to get one tanker delivered to their station. This is just unnecessary suffering that is how I see it, they suffer people and waste people’s time unnecessarily.”

It was gathered that the AP Fuel Station at Ilasamaja experienced intermittent fuel sales on Sunday.

The station sold fuel in the morning but stopped operations in the afternoon, resuming sales later in the evening. Customers willing to pay a premium could purchase five litres of fuel at a rate of N4,000.

“We sold at N615 per litre today but we have stopped for now. However, if you are desperate, we can sell to you at a higher rate,” a customer attendant at the AP Fuel Station revealed.

Meanwhile, the General Fuel Station in Sadiku had no fuel available when visited by our correspondent, exacerbating the fuel scarcity crisis in Lagos.

A motorist simply identified as Segun in Nepal, Akowonjo, Lagos State, told our correspondent that he purchased fuel at the rate of N650, adding that the queue was becoming unbearable.

“I paid N650 per litre, and it is annoying because I have been buying it like this for the longest time, and I think the government needs to do something about it, but then again, we have no choice.

A commercial driver, Timothy stated that he purchased fuel at Petrocam in Ikeja for N670.

He said, “Things keep increasing, the dollar is high, and all these producers are storing the fuel somewhere. They even mentioned that the prices might be higher.”

In Ogun State, checks by our correspondent revealed that petrol was sold between N700 to N800 amid long queues.

It was gathered from a resident, Emmanuel Ogbonna, that Ebefem fuel station in Abeokuta dispensed petrol at the rate of N720.

Emmanuel decried the difficulties experienced in getting petrol as there seems to be a return of fuel scarcity.

Emmanuel said, “I bought fuel at N720 in Ebefem filling station. There was no queue at the time I visited the station but major fuel stations like NNPC were not dispensing fuel when I visited yesterday (Saturday) evening. It seems petrol is scarce.”

A fashion designer in Abeokuta who identified himself as Ibrahim told our correspondent that he purchased the product at the rate of N750 at a private fuel station.

“My apprentice got the fuel at N750 at Oyinkansola. This is affecting my business.”

Further checks in the Oloka area of Imeko-Afon revealed that petrol was dispensed at N850 per litre.

A resident, Ade Akinola, told our correspondent that petrol was dispensed at the rate of N850. He blamed the Federal Government’s decision to ban the supply of petroleum products within 20 kilometres of the nation’s borders.

Akinola said, “Over the years, petroleum products have been expensive in border communities because of the 20km ban on the supply of crude to the nation’s border.

“As of today (Sunday), the last filling station permitted to dispense petroleum products sells fuel at N850. In places like Ilara which is the border town, petrol sells for N1,500 per litre. This is making life tough for residents of border communities.”

Ado-Ekiti stations

Report has it that many of the petrol stations in Ekiti State, particularly in Ado-Ekiti, the state capital, have not been dispensing fuel to customers in the past few days.

At the few stations where the product is sold, there are long queues of vehicles especially where the price per litre is a bit low.

On Saturday and Sunday, the filling stations sold for between N650 and N760 per litre.

A motorist, Olaniyi Olaogun, said, “We have been in this fuel situation for some days now and nobody is ready to give an explanation. I bought fuel on Saturday at N650 per litre at a filling station in the Adebayo area of Ado-Ekiti. The queue there was unbelievable at that amount.

“It is only NNPC that sells at N580 per litre, others are above N600 per litre. I know NNPC along Iworoko Road sold at N580 per litre on Friday,” he said.

Another car owner, Mrs Lydia Igbala, said she bought fuel at N750 per litre and N760 per litre at different locations in the state capital on Saturday and Sunday respectively.

In Kwara, it was gathered that there was availability of PMS in Ilorin, on Sunday as most of the stations were selling fuel to motorists. However, the prices ranged from N600 to N750 per litre in most of the petrol outlets.

The AP filling station at Murtala Mohammed Road, a major commercial area in Ilorin, dispensed fuel at N620 per litre while MJK in the same area sold at N750. The MRS located on Unity Road sold at N600 per litre while Abanik at Sawmill sold at N660.

Shafa station sold at N700 per litre; Rain Oil at Asa Dam road and Lao area respectively were selling at N720 per litre; Tigress at Odota sold at N750 per litre, while Bovas sold at N670 per litre in all its stations located in various parts of the metropolis.

However,  the price of diesel at stations that have supply ranged from N1,450 to N1,700 per litre while kerosene was sold at N1,650 per litre.

In Benin, Edo State, independent marketers sold PMS between N700 and N730 per litre, while the major marketers sold between N660 and N680.

Report has it that the prices were higher in Edo North with a litre going for between N730 and N900 by the Independent marketers who are mostly in that area. In Edo Central, a litre sold for between N750 and N850 on Sunday.

The NNPCL fuel station sold PMS at N591 per litre, but motorists had to queue for long hours to buy the product.

It was learnt that the NNPC filling stations in Rivers State were selling fuel for N591. However, others sold between N750 and N760 as of Sunday.

Sokoto

Long queues of motorists resurfaced at the mega station of the NNPC in Sokoto State as fuel scarcity hit the state. Our correspondent who monitored the development gathered that only the NNPC station sold the product at N620 naira per litre.

Other fuel stations that sold fuel between N720 and N750 before now sell between N850 and N900, depending on the filling stations.

In Kaduna, fuel is sold between N720 and N800 along the Sabon-Tasha expressway by Command Junction, in the southern part of the state.

At the NNPC Mega stations along Stadium Roundabout and Aliyu Makama Road by Living Faith Church, Barnawa, fuel was being sold at N620 per litre but with a long queue.

At the black-market rate, motorists buy a gallon of petrol at N4,000 and N4,500 depending on the locations within the Kaduna metropolis and its environs.

NNPC spokesperson did not immediately respond to calls and messages seeking reaction on the developments on Sunday

Abuja scarcity lingers

Meanwhile, some filling stations in locations far from the city centre of the FCT dispensed Premium Motor Spirit, popularly called petrol, at N900/litre on Sunday, as the scarcity of the commodity lingered in Abuja and neighbouring Nasarawa and Niger states.

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Hundreds of motorists besieged the outlets operated by big dealers such as Nipco, Salbas, and Conoil, among others, to get the product at between N660/litre to N690/litre, whereas smaller stations operated by independent marketers sold the product at higher rates.

One of the remote stations along the Kubwa Village market road dispensed its product at N900/litre and had fewer queues compared to those at the few outlets of major dealers that sold petrol on Sunday.

Attendants at the Kubwa facility confirmed the position that was earlier stated by the National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, that the ex-depot price of petrol had been increased to N710/litre at depots.

“The price of petrol at depots is now more than N710/litre. You have to pay for transportation to bring it from Lagos, Port Harcourt or Warri to Abuja, That cost has to be factored in. There are other operational costs to include too.

“When you add all this, there is no way you will sell at even N800/litre and be able to get a sensible margin. This applies mainly to independent marketers who operate smaller stations.

“For the major marketers, some of them have their private depots, so they can afford to sell at lower prices,” an attendant who simply identified himself as Austin, stated.

The IPMAN president had earlier told our correspondent that some dealers closed their retail outlets due to their inability to access petrol as a result of the hike in the ex-depot price of the commodity to N710/litre by private depot owners.

He said private depot owners had raised the ex-depot price of PMS to N710/litre, whereas the pump price of the commodity at NNPC retail stations was N617/litre.

Maigandi said, “The current situation is a result of the way private depot owners have been selling their products. It has been very difficult for independent petroleum marketers to get the product and sell it in Abuja and neighbouring states, as well as in other states in the North.

“So the queues you are seeing now are because of the cost of PMS by private depots. The private depots are selling at N710/litre, but if you check the price of the same product at NNPC retail outlets, it is N617/litre.

“Therefore, by the time we independent marketers buy from private depots and bring it to our filling stations, we will not be able to sell our product because our cost price is already so high, while the cost at NNPC retail outlets is far lower.

“And you know that when we buy it at the rate of N710/litre we have to add transportation cost again because there is no equalisation. And when we add the cost of transportation, the pump price is going to be higher than the N710/litre ex-depot price, whereas NNPC stations sell at N617/litre.”

Maigandi explained that because of the widespread number of stations operated by IPMAN, any distortion in the supply of products to members of the group would eventually lead to fuel queues because major marketers and NNPC stations are fewer in number.

On whether IPMAN members cannot get direct PMS supply from NNPC, instead of buying the product from private depots, he replied, “That is what we have been negotiating with them (NNPC), and they promised us that they will start giving us our allocation.

“They have started but the quantity is small compared to the number of retail outlets operated by IPMAN nationwide. We are getting products from NNPC, but the volume is too small for our members.

“So we are requesting additional volumes because in Abuja alone we have over 250 retail outlets belonging to IPMAN members. This is just for Abuja, we’ve not talked about Niger, Kaduna, and other states in the North, not to talk of the number nationwide.”

Maigandi, however, stated that the queues for petrol were not pronounced in remote villages, adding that “when you go to the villages you will see that there are no queues.”

 

Credit: The Punch

BIG STORY

Your Support Symbolises Great Honour To My Father’s Memory — Buhari’s Son To Tinubu

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Buhari’s son became emotional as he expressed gratitude to Tinubu for honouring his father with a dignified state funeral.

Yusuf, the son of former President Muhammadu Buhari, conveyed his appreciation to President Bola Tinubu for the honour given to his late father.

He made the statement during an expanded Federal Executive Council meeting held in Abuja on Thursday in Buhari’s honour.

Yusuf, who was present at the special session alongside his siblings, extended his thanks to President Tinubu and his administration for their support to his father and family.

He also acknowledged the National Assembly, Katsina State Governor Dikko Radda, other governors, and Nigerians for their solidarity with the grieving family.

Yusuf said, “It has shown that he (Buhari) was regarded far more than a politician, but regarded as a friend and a father. To all members of the Federal Executive Council, for the care and befitting burial accorded to our late father, we appreciate you all.

I also wish to thank the Senate President, Speaker of the House of Representatives, and all the distinguished and honorable members of the National Assembly for honoring the memory of our late father during the state burial in Daura.

Your visits, calls, and prayers symbolise a great honour to the memory of our late father, and we’re sincerely grateful for all the support and solidarity extended to the family. May Allah continue to bless us all.”

Fighting back tears, Yusuf added, “Thank you, daddy. Thank you, Daddy. Thank you, Daddy. May Allah continue to bless, provide, and protect you throughout your tenure.”

Buhari passed away on Sunday at a medical facility in London.

His remains were received by Tinubu and interred in Daura, Katsina State, on Tuesday.

President Bola Tinubu paid his final respects to former President Muhammadu Buhari at the burial in Daura, Katsina State, on Tuesday, July 15, 2025.

Buhari served as Nigeria’s president from 2015 to 2023.

He was also the country’s military head of state between 1983 and 1985.

He died at the age of 82.

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FG, Bi-Courtney May Resume Talks On Lagos Airport Mega Projects

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The Minister of Aviation and Aerospace Development, Festus Keyamo, is likely to step in to resolve a long-standing legal dispute involving a multi-billion naira, unfinished four-star airport hotel and International Conference Centre, returning it to Bi-Courtney Aviation Service Limited, the operators of Murtala Muhammed Terminal Two, after nearly two decades in contention.

A private meeting took place last Thursday between the minister, key Bi-Courtney executives, and the Managing Director of the Federal Airport Authority of Nigeria, Olubunmi Kuku, at FAAN’s headquarters in Lagos.

Sources familiar with the meeting said the discussions focused on putting an end to the drawn-out conflict that has left the hotel and conference centre locked up.

The dispute began in 2005, when Bi-Courtney started building the hotel and conference facility on land provided by FAAN. The project later came to a halt due to disagreements over the terms of the concession.

In 2013, FAAN reportedly revoked the lease agreements given to Bi-Courtney, citing contract breaches and the firm’s failure to complete the developments within the agreed timeline.

Bi-Courtney responded by obtaining a court injunction stopping FAAN from reclaiming the sites, arguing that the delay was caused by FAAN’s lack of cooperation and support.

The company had previously expressed readiness to complete the hotel project, stating that FAAN’s conduct hindered progress.

Bi-Courtney reportedly stated, We are ready to finish the two projects, but we are completely scared of FAAN because of its antecedents. For example, we spent $2m to buy tiles and another $1.2m to airlift them for the projects, only for FAAN to frustrate us. What is more painful is that an international company that we signed agreements with on the two projects pulled out of Nigeria because of the harsh business environment.

Multiple insiders suggested the minister appeared inclined to authorize a restart of the hotel and conference centre developments. From what I gathered from the meeting, the Federal Government may allow the project to resume.

Efforts to reach the minister for comments were unsuccessful, as he did not reply to messages sent to his phone. Likewise, phone calls and texts to the spokespersons of FAAN and Bi-Courtney, Obiageli Orah and Yinka Olawuyi, respectively, went unanswered.

Aviation analyst John Ojukutu reacted positively to the move, advocating for more comprehensive concessioning in the sector. Government should have no business in the business of aviation. Anyways, if they give him back his property, I will congratulate him, and whenever they release it to him, he should then start counting his 35 years, he said.

The minister’s potential involvement could bring closure to the 19-year impasse and enable work on the hotel and conference centre to resume.

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‘The People’s General, The Farmer President’ — Tinubu’s Tribute To Buhari At Special FEC Session [SEE FULL TEXT]

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President Bola Tinubu delivered a speech during Thursday’s special federal executive council meeting at the State House in Abuja, held in honour of former President Muhammadu Buhari.

Today, we gather in a moment of stillness, surrounded by the absence left behind by a leader whose presence deeply shaped our nation.

We are here to honour a man who once led this chamber, whose voice called for our best efforts, and whose convictions stood strong against the tide of opinion.

President Muhammadu Buhari, GCFR, former Head of State and President of Nigeria, has passed away.

He was a soldier during war, a calm figure during peace, and a citizen admired not for seeking praise, but for simply being himself.

But it was in private that his greatest strengths were clearest: he was devoted without show, just without being harsh, kind without being sentimental, reserved without being distant, and honest without deception.

His nature was consistent and his spirit steady. He moved with grace and earned the respect of those who encountered him. That inspiration remains with us.

He showed humility toward his equals, gave respectful kindness to those he led, and offered love and loyalty to those close to him. His life challenged wrong and gave shelter to what was right. His moral character gave deeper meaning to the discipline he held in public life.

Even at the end, he kept the calm dignity that marked his life. He met death with the same quiet acceptance of God’s will. This is the man Nigeria mourns today.

President Buhari lived with rare honour. He stayed upright in his values, untouched by the temptations of power, unmoved by applause, and unfazed by the loneliness that often comes with doing what is right over what is popular.

His courage was unspoken, and his integrity needed no announcement. His loyalty to the country showed in action more than words.

His path reflected that of Nigeria. Born before independence, he chose to defend the nation. In war and peace, he showed careful attention and unwavering commitment, as if he believed protecting Nigeria was his life’s purpose.

From his military years to civil service, he remained consistent. He governed the North-Eastern State, led as Head of State, and later managed the Petroleum Trust Fund with firm discipline and focus on national interests.

Still, his most lasting mark came through democracy. At a time when many doubted that change was possible, Muhammadu Buhari placed his hope in the will of Nigerians.

We stood together. With others from across political backgrounds, regions, and languages, we built a coalition that made history with Nigeria’s first true democratic transfer of power from one party to another.

When he became our party’s first elected President, he led with humility, governed with dignity, and carried the responsibilities of leadership with patience.

Those who knew him closely saw that the presidency did not change him. He remained calm in pressure, firm in challenge, humble in victory, and always cheerful in spirit.

After completing his tenure, he returned to Daura. Not to control from behind the scenes, but to live quietly, just as he always had—trusting others to move the nation forward.

President Buhari was not without flaws—no leader is—but he was a good man, a decent man, an honourable man.

His legacy will be discussed, as all legacies are, but the values he brought to public service, the strength of his character, and his incorruptible standards will be remembered. He lived entirely in service to Nigeria and with devotion to God.

Now he rests. And we must remember him not just with words, but with actions: by showing humility in power, integrity in duty, kindness in leadership, and courage in doing what is right.

On Tuesday, July 15, 2025, a grateful nation laid to rest one of its finest sons. It was a deep honour for me and Vice President Kashim Shettima to lead the funeral procession to Daura and witness his burial, which reflected the dignity he deserved.

I thank the Inter-Ministerial Committee, led by Secretary to the Government of the Federation, George Akume, and Governor Dikko Radda, for organising a fitting State Funeral within 48 hours.

As we mourn, I extend my deepest condolences to Hajia Aisha Buhari, her children, the wider Buhari family, the government and people of Katsina State, and to everyone who knew and loved him.

We thank President Buhari’s family for giving him the strength and support to serve Nigeria for more than five decades.

We remember his contributions, reflect on his impact, and pray for peace upon his soul.

Mai Gaskiya, the People’s General, the Farmer President—your duty is complete.

May Almighty Allah forgive his shortcomings and grant him Aljannah Firdaus.

May his life continue to inspire generations of Nigerians to serve with courage, conviction, and selflessness.

President Buhari, thank you. Nigeria will remember you.

Bola Ahmed Tinubu, GCFR
President, Commander-in-Chief of the Armed Forces
Federal Republic of Nigeria

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