FOLLOWING Monday's announcement by President Bola Tinubu on his administration's removal of fuel subsidy, panic ensued among motorists and residents of the Alimosho LGA, resulting in a rush to buy fuel in large quantities, and a reported hoarding of products by some filling stations.
According to media reports, some petrol stations even went as far as adjusting their pump prices, even though they did not buy any product whatsoever within the time frame of the removal.
Alimoshotoday observed cars lined up in front of filling stations across Alimosho, as residents also trooped out in their numbers with kegs to purchase petrol for domestic and business use.
According to checks by Vanguard, some of the fuel stations seized the opportunity to jerk up the price from N184 per litre to as high as N250 per litre with the black market selling as high as N500/N700 per litre.
Other fuel stations, which were earlier seen open for business, later shut their gates, hoarding the product.
Along the Egbeda/Idimu Road, the few places where the product is being sold had vehicles scampering for it, while commuters were seen stranded at various bus stops waiting to board commercial buses.
Few of the buses that were on the road for business hiked the fares between 50 and 100 per cent over the fear of impending scarcity.
A trip from Egbeda to Ikotun which formerly was N200 was jerked up to N300. Also a trip from Egbeda to Ikeja, formerly between N250 and N300 cost N400. Some commuters refused to board it because of the exhorbitant prices.
It was not a different story at the Iyana-Ipaja end of the local council as some passengers were seen jostling to board the few buses plying the various routes.
