Lagos residents groan as kerosine price hits N150 p/litre

Fuel scarcity hits Owerri22 November 2013, Lagos – Some residents in Lagos have called on government to set up a task force to enforce the official N50 per litre pump price of kerosene.

The resident told the News Agency of Nigeria in separate interviews in Lagos on Friday many dealers were selling kerosene as high as N150 per litre.

Mr. Felix Balogun, an official of First Bank, told NAN that many marketers were not selling kerosene at the official price of N50 and this had made cooking difficult in some homes.

Balogun urged the regulatory agencies to sanction marketers selling above the official pump price.

He also urged the Federal Government to find a lasting solution to the persistent high cost of the product.

“The high price of kerosene is exposing many Nigerians to difficulties and causing a drain in their pockets.

“Most families have been forced to use firewood in spite of its cumbersome process,’’ Balogun said.

Mrs. Deborah Yakubu, a kerosene retailer in Onipanu area of Lagos, blamed the high cost of the commodity on both major and independent marketers.

“They sold a litre of kerosene to me at N105 per litre with other charges; how much did they expect me to sell it to make my gain.

“Government should set up an independent task force to sanction any erring marketer,’’ she said.

Alhaja Modinat Ojora, a food seller in Maryland, said that the situation was pathetic and urged the Federal Government to find a way of addressing the problem.

Mr. Bamidele Ogunshakin, the Managing Director of Ollymore Oil and Gas Ltd., said the station was allocated 10,000 litres to sell at N50 per litre and all had been exhausted.

Ogunshakin said marketers, who were selling above the official pump price, were sourcing the product on their own at the rate of N98 per litre, excluding other charges.

“Marketers should not be blamed for the hike in the price of kerosene. Government should live up to expectations by supplying the commodity at the official pump price of N49.50. We are businessmen. We cannot keep our storage facilities empty without the product.

“We have to source the product at any price to keep the company running so that we will be able to pay for utilities and other expenses,’’ he said.

NAN reports that in spite of the launch of the campaign on “sale of kerosene at N50 per litre” nationwide, some filling stations in Lagos are still selling it above the pump price of N50 per litre.

Consumers often spend hours on queues at filling stations to buy the product at the official pump price.

A litre of kerosene costs between N160 and N170 outside the filling stations.


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