As recession bites harder, price of fuel goes up in filling stations
- The price of petrol has gone up in some parts of Lagos
- The NNPC said the agency responsible for monitoring prices will act on it
- The federal government insists it will not increase price of fuel
As Nigerians battle to survive the current economic recession, the price of fuel has gone up in some parts of Lagos.
A check by Vanguard revealed that in some petrol stations in the Badagry area of Lagos, fuel was being sold between N147 and N150 per litre..
READ ALSO: We will stop importing fuel by 2019 - Ibe Kachikwu
“The National Bureau of Statistics, Premium Motor Spirit (Petrol) Price Watch had indicated that Lagos have been recording average fuel price of about N144.4 per litre in the last three months, though national average and South West average stood at N146.7 and N148.4 respectively as at December 2016. “
The Nigeria National Petroleum Corporation (NNPC) and it expected the agencies saddled with the responsibility of monitoring prices to do their jobs.
Mr. Ndu Ughumadu who is the group general manager, public affairs of the NNPC explained that there was no need for panic-buy as there was enough to satisfy demands.
“We have about 36 days sufficiency of PMS (petrol).”
“There are agencies responsible for price monitoring. However, in our (NNPC) retail outlets we sell within the price band.”
Similarly, the Major Oil Marketers Association of Nigeria said those selling beyond the limit stipulated will be apprehended.