A Review of the Nigerian Energy Industry

Fuel stations close shop in Osun, transport fares up 300% in Ondo

03 January 2012, Sweetcrude, OSOGBO/AKURE—Most filling stations in Osogbo, the state capital and other major towns in the state were, Monday, under lock and key, just as travellers faced tremedous hardship following the non-availability of vehicles on the roads.

The sudden hike in the price of Premium Motor Spirit, PMS, otherwise known as petrol, made transporters who could not afford the new price to withdraw their vehicles from the road.

Checks by Sweetcrude revealed that the few petrol stations that had the commodity in the state capital and other major towns of the state sold a litre of petrol for between N150 and N160.

Also, the cost of transport fares increased outrageously as intra-bus fare within Osogbo which was N30 per drop shot up to between N50 and N70.

Travellers condemned the removal of the oil subsidy and scarcity of the commodity, describing the development as unfortunate.

In Ondo State, transport fares have shot up astronomically following the removal of fuel subsidy. Intra-town and inter-town fares shot up by almost 300 per cent.

The NNPC mega station in Akure sold petrol for N138 per litre while major marketers and independent marketers sold for between N140.50 and N150 per litre.

Dealers who have been hoarding petrol since immediately the removal was announced adjusted their pump across Ondo State.

Pockets of filling stations sold fuel yesterday while others shut their gates to customers despite having the commodity.

Commuters returning to base after the New Year festival paid triple the fares as transport fare from Akure to Lagos which used to be N1, 250 is now N3,500; from Akure to Port Harcourt that used to be N2,500 jumped up to N7,000, while Akure to Abuja that used to be N3, 000 now cost N7,500 while Akure to Ibadan which was formally N700 is now N1, 500.

Many commuters who were not prepared for the hike in transport fares went back home disappointed. They described the development as a sign of bad things to come in the country.

Some petrol dealers,who spoke under the condition of anonymity, said they decided not to sell petrol for now because they are not sure how much they are to dispense the product.

Petrol attendants took advantage of the situation to make brisk business as they collected additional money before dispensing petrol to motorists.

Petrol sold into jerry cans attracted between N100 and N200 for fifty litres.

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