Black market hits N1,300 to N1,500 as petrol stations shut down in Calabar

Black market operators have been cashing in following the shutdown of most filling stations in Calabar.

Its been gathered that independent and major marketers filling stations in Calabar have shut down operations in compliance with the ongoing strike declared by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

Most stations stopped selling fuel late Monday night, while a few dispensed briefly in the early hours of Tuesday before shutting their gates. The closures followed fears of sanctions from NUPENG’s task force and monitoring team amid the raging dispute between the union and the Dangote Group.

Some major marketers such as Fynefield and MRS remained closed, including Mobil, Eterna, Shafa, Uddy King, and Total were also locked up only NNPC outlets were selling, but with long queues.

Black market prices have soared to between ₦1,300 and ₦1,500 per litre.
The situation has left residents stranded at major bus stops, as transport fares have tripled. .

Many residents Unable to afford the new fares, were seen trekking long distances.