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Black Market Hits Akure As 10 Litres Sold For N3,000 - Nairaland / General - Nairaland

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Black Market Hits Akure As 10 Litres Sold For N3,000 by catchfun: 8:25pm On Nov 19, 2015
As fuel scarcity continues to persist across the nation, black market dealers have flooded the street of Akure, the Ondo state capital, selling 10 litres of fuel at N3000.
Our reporter, who monitored the situation today, observed that the few fuel stations, which opened for business, were selling at the rate of N140 per.
Despite the fuel stations selling above the official price of N87, their stations witnessed long queues as buyers struggled for hours before getting fuels.
Also, some young men have taken this as opportunity to make quick money as they struggled to get fuel at the fuel stations and later sell it at high price to motorists.
A banker, Mr. Olawale Badmus said “you can’t believe that I have been finding it difficult to get fuel for so many hours, until a guy approached me with 10 litres of fuel and asked if I would buy? I don’t have a choice and I bought it at N3000”.
It was learnt that those who are in dire need of fuel normally stormed fuel stations that may likely open for business as early as 5.a.m.
A taxi driver, Mr. Olarinde Bolu said “I have been at this particular station since 5 a.m just to get fuel for me to work for some hours; it is so painful that I am still struggling to get fuel as at 8 a.m.
“I have just been informed about a guy selling black market and I think I will go to him and get fuel but the passengers will pay for it”.
Bulo, who is a graduate of business administration urged President Muhammadu Buhari to remove the fuel subsidy.
“Until government take that bold step to remove subsidy, Nigerians will still continue to experience the issue of fuel scarcity. Let the oil market be freed. Oil price has dropped but Nigerians are still paying high prices all in the name of fuel subsidy and scarcity”.
A human rights activist, Mr. Morakinyo Ogele asked Buhari to look for means of breaking the fuel cartels.
He particularly blamed the petrol marketers for the scarcity of fuel nationwide
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http://dailypost.ng/2015/11/19/black-market-hits-akure-as-10-litres-sold-for-n3000/

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