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Black Market Thrives In Yobe, As Fuel Sells For N600 Per Litre

LEADERSHIP News by LEADERSHIP News
4 years ago
in News
A man fills an automobile with fuel sold on the black market as others queue to buy fuel on a major road in Lagos, Nigeria, on Thursday, April 7, 2016. International energy companies in Nigeria have agreed to provide about $200 million to help fund fuel imports amid a foreign-currency shortage, which has caused widespread supply shortages Petroleum Minister of State Emmanuel Kachikwu said. Photographer: George Osodi/Bloomberg

A man fills an automobile with fuel sold on the black market as others queue to buy fuel on a major road in Lagos, Nigeria, on Thursday, April 7, 2016. International energy companies in Nigeria have agreed to provide about $200 million to help fund fuel imports amid a foreign-currency shortage, which has caused widespread supply shortages Petroleum Minister of State Emmanuel Kachikwu said. Photographer: George Osodi/Bloomberg

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As the scarcity of fuel bites harder across the country, the product is now available at the black market at the rate of N600 per litre in most parts of Yobe State.

LEADERSHIP discovered that most of the filling stations in the state, especially Damaturu, the state capital, were locked while the few that opened had very long queues.

Some of the motorists who queued for the product said they had spent a whole day before it could get to their turn.

One of the black market operators told LEADERSHIP that he bought the product at a filling station at the cost of N250 per litre and sells at N600. The seller, who refused to give his name, said he usually buys the product at night.

He said, “We buy along the expressway between 10 pm and 11 pm. In fact, I am looking for money to buy more.”

It was gathered that, Initially, the sellers were concealing the product, but as of yesterday, many of the sellers were bold to display the product by the roadside, especially along Maiduguri Road.

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“I have no choice but to buy black market because there is no fuel anywhere and I have to go out,” Bukar, a resident said.

 

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