Kwara: More Woes as Fuel Price Hits N1,000 Per Litre, Details Emerge
- Residents of Ilorin are struggling as petrol prices soar to N1,000 per litre, worsening economic hardship
- Transport operators and business owners lament the rising costs, which have led to increased fares and reduced profits
- Independent marketers blame the price surge on the collapse of the naira-for-crude agreement between NNPC and Dangote
Residents of Ilorin, the Kwara State capital, are reeling under the burden of skyrocketing petrol prices as private filling stations now sell the commodity for as high as N1,000 per litre.
A survey by TheTalk.NG revealed that several independent marketers have adjusted their pump prices between N950 and N1,000 per litre, exacerbating the economic hardship on motorists and commuters.
The fuel cost hike has inflated the prices of all other goods and products in the market.Source: Getty Images
Independent marketers increase cost of fuel
At Al-Iman filling station, located at Adeta roundabout in Ilorin, petrol is sold at N980 per litre, while other independent stations in the area sell for N990 and N1,000 per litre, depending on the location.
Meanwhile, some major marketers have kept their prices slightly lower but still high. Total filling stations sell at N965 per litre, Bovas at N930, NIPCO at N935, while MRS and NNPC retail stations are selling at N930 per litre.
Residents lament inconveniences
Speaking to TheTalk.NG, Tunde Issa, a commercial tricyclist(Keke Maruwa Driver) in Ilorin, lamented the impact of the price surge on transportation fares.
“The situation is even worse now for us that work till late at night. You know that time, stations like Bovas may have closed. That is when you will see them(filling stations) selling petrol for price even above N1,000.
“How do they expect us to survive? Fuel was already expensive before, but now it is completely unbearable. There was a time we bought it for N1,200 before it was reduced to around N850. And that was the price as on Friday. I remember vividly.
“But now,now it’s almost N1,000 everywhere including NNPC. Transport fares will have to go up, and passengers will suffer more,” he added.
A shop owner at Adeta, Mrs Taiwo, expressed frustration over the rising cost of living.
“Like me now, my shop is here(Adeta) and I live around Okolowo area. What used to be N200 is now N350. Everything in the market is expensive because of fuel prices. And my profit per day is not increasing“ she lamented.
Filling stations blame collapse of Naira-for-crude agreement
A manager at one of the independent filling stations, who pleaded anonymity, blamed the high price on the abrupt termination of the naira-for-crude deal between the Nigerian National Petroleum Company Limited and the Dangote Petroleum Refinery.
The six-month deal, which began in October 2023, officially ends today, Monday, March 31, 2024. Discussions about extending the deal or discontinuing it are still ongoing among the involved parties.
Reports from Sunday indicate that the committee responsible for the negotiations has not yet reached a decision. As this uncertainty continues, it is beginning to affect the pump prices of refined petroleum products.
The station manager stated that the development has created unnecessary tension within the petroleum sector, leaving marketers uncertain about the future landing cost of fuel.
“We buy fuel at a very high price from depots, so we have no choice but to sell at a rate that will keep us in business. The government needs to address the supply chain issues and settle the issue with Dangote.” he stated.
Fight among communities lead to death of 9 people
Earlier, TheTalk.NG reported that Jigawa State Police Command confirmed on December 4 that a communal clash that occurred on December 3 in the Miga Local Government Area resulted in the death of nine people and left four others injured.
The incident has led to significant unrest in the community, with many others hospitalized.
Source: TheTalk.NG
