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Petrol is now N200 in black market

01 March 2016, 15:05

Lagos - Following the scarcity of premium motor spirit across the country, illegal hawkers of the commodity on the black markets are now selling the product for between N120 and N200 per litre to motorists and other users.

In some areas in Lagos, the product was sold on the black market for between N150 and N200 per litre.

Petrol hawkers at Gbadaga, near the Mobil filling station, and those at Palmgrove and Fadeyi on Ikorodu Road, offered to sell 10 litres of the product for N2 000.

Black market hawkers in Abuja, Nasarawa and Kaduna were selling petrol at exorbitant prices on the major roads.

Also read: Petrol now sells for N120 in Ibadan

They sold the product in jerry cans to willing motorists who could afford the cost. The prices ranged from N1 200 to N1 500 for 10 litres of petrol.

Many filling stations belonging to independent marketers in Lagos and Abuja were shut on Monday, as they claimed not to have the product to dispense.

In Ibadan, Oyo state capital, most filling stations were shut with only a few selling between N110 and N120.

Source: Punch

- News 24


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