A litre of petrol may sell for N150 from next week

Unless the Federal Government address the concerns of petroleum importers, a litre of petrol may sell for N150 from next week, Industry operators have warned.

 The importers who spoke to Daily Sun yesterday under anonymity said mounting subsidy debt owed marketers is taken a toll on their businesses. As of yesterday, the acute shortage of petrol  have forced petroleum marketers in Lagos and its metropolis to sell at N100 a litre as against the official recommend price of N87.

Majority of the major and independent petroleum marketers who have stock have refused to sell while those selling are doing so at N100 a litre. The development has led to traffic build up across the metropolis, especially at Oba Akran and its Ikorodu road, Ikoyi, with the worst hit being Lekki –Ajah axis.

Findings by Daily Sun revealed that marketers have suspended further importation of petroleum products over the inability of government to settle about N291 billion owed petroleum marketers...