Fuel Marketers Raise Concerns Over Ghost Purchases  At Stations

Gillis-Harry explained, “Marketers and retail outlet owners across the industry are finding it hard to sustain operations under these conditions. Just a few months ago, 45,000 litres of petrol cost us less than 8.5 million naira. Now, it costs around 49 million naira.”

He added that financial support has been scarce, with lenders charging high interest rates, making it difficult for station owners to operate. “The fuel we manage to bring to our stations doesn’t sell quickly because Nigerians are also struggling with their purchasing power,” he noted.

Similarly, Ukadike Chinedu, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), described the stations as “ghost towns” as many middle-income Nigerians opt for public transportation to avoid the high fuel costs. “Most of the investment capital is borrowed, and with high-interest rates, there’s little to no return on investment,” he said.

Both PETROAN and IPMAN are urging President Bola Tinubu to establish a N100 billion relief fund to help petrol marketers stay afloat, similar to the government’s support of the aviation and agricultural sectors