Transport fares double in Lagos, Port Harcourt, as fuel price hits N1,300/litre
Transport fares within Lagos and Port Harcourt metropolis have doubled, following the unofficial increment in the pump price of PMS from N650 to N860 per litre.
Recall that in the last few weeks, the country has faced fuel scarcity with the product selling between N700 and N900 per litre in different parts of the country, as NNPC Ltd blamed the shortage on financial constraints and backlog of $6billion debt owed petrol suppliers.
In Port Harcourt, the Rivers State capital, fuel is currently being sold between N1,080 and N1,300 depending on the filling station, while NNPC Ltd’s mega stations are dispensing at N855 per litre with extremely long queues. In Lagos metropolis, the price ranges between N850 to N900.
The hike in fuel price has led to a 100 percent increase in public transport fare as the shortest distance hitherto charged N100 by commercial drivers in Port Harcourt is now N200, while in Lagos the price has also doubled in many areas. For example from Ogba to Berger that used to cost N200 is now N350, while from Ishaga to Ogba that used to go for N300 is now N500.
From Choba to Rumuola is now N1200, 100percent increment from hitherto N600; similarly, Choba to Mile III hitherto charged N400 is now N800; Rumuokoro to Choba is now N800 up from N400; Rumuokoro to Mile 1 is now N800 up from N400, Airforce junction to Mile 1 is now N600 up from N300.
Reacting on the development, an energy expert, Dr.Olufemi Omoyele , attributed the fuel price hike to high importation costs, with NNPCL facing debts from purchasing PMS at about N1,300 per liter from the international market.
Although NNPC Limited denied issuing a directive for the price adjustment, allegedly due to pressure from organized labor and industry associations, Omoyele said major marketers and NNPC Retail outlets were already instructed to adjust their meter prices upward.
