Residents complain as petrol costs N700 in Anambra

In some areas of Anambra State on Tuesday, the cost of Premium Motor Spirit, also known as petrol, reached as high as N700 per litre as residents resorted to panic buying.

This occurs after President Bola Tinubu announced on Monday during his inauguration that subsidies would be eliminated.

The few stations that did sell the product reported long lines, with some of them selling for between N250 and N350 per litre prior to the announcement of the subsidy removal. This was despite the fact that most filling stations in the metropolis had closed their doors since Friday in anticipation of the new price regime.

However, due to the Indigenous People of Biafra’s declaration of a sit-at-home on May 30 to observe Biafra Day, petrol stations in Onitsha, Nnewi, Ekwulobia, and some areas of Awka remained closed.

Some of the few residents who disobeyed the sit-at-home order resorted to panic buying, spending between N500 and N700 on the product from black market vendors.

Additionally, the few tricycle drivers who refused to follow the sit-at-home rule increased their prices by up to 100%, making previously N100-per-mile trips into N200-per-mile ones.

According to Mama Chisom, the owner of a restaurant in Onitsha, “Since the announcement of the subsidy removal, filling stations have stopped dispensing fuel so that they can adjust their prices in line with the new market price.

“Today, I purchased the item from the black market for N700 per litre in order to power my business’ generator. As there are no petrol stations selling, the black marketers who had the product stored raised their prices. This is dreadful. By the time routine activities resume after the stay-at-home day, we don’t know what tomorrow will be like.

Kenechukwu Okonkwo, a commercial driver, claimed that the majority of petrol stations had stopped dispensing products since Friday in anticipation of the upcoming announcement regarding the removal of subsidies.

Since Friday, it has been challenging to obtain the product. Sit-at-home days were on Monday and Tuesday. By the time full activities pick back up, we have no idea how tomorrow will look. More adversity than what we already endure is not what we want.

The fuel was being sold for N500 at a few filling stations that started dispensing it later on Tuesday evening because they had adjusted their pump prices, according to our correspondent.

Two petrol stations, Altrac Filling Station and Hanaco, changed their metres to read N500 per litre as of 7:32 p.m. on Tuesday, despite the fact that few customers were swarming the locations to purchase the product.