By Dada Ahmed in Lokoja.
Long queues of vehicles resurfaced in many filling stations in Lokoja, capital of Kogi state on Tuesday, The Reporters reports.
Our correspondent who visited Rano on Lokoja-Kabba Road, Shafa on Ganaja Road among other filling stations in Lokoja between 8 a.m. and 9 30 a.m on Tuesday sighted long queues of vehicles.
The online publication, however, reports that there was no increase in the pump price of fuel as the price tag remained at N210 per liter at Rano and Shafa filing stations, respectively as at the time of this report.
Some of the motorists, in a separate interview with our correspondent, said they embarked on panic buying of the product in anticipation that the price of fuel would soon go up.
"I decided to come and fill the tank of my car since the new government said it has removed fuel subsidy because according to them, such policy is no more justifiable within the current economic reality of the Nigerian economy.
"At least, this is what our new President, Asiwaju Bola Ahmed Tinubu, told us on Monday in his inaugural presidential speech in Abuja," Mr.Michael Babola, a civil servant said while speaking with The Reporters.
Our correspondent further reports that the removal of fuel subsidy dominated the headlines of many national newspapers on Tuesday, citing the Tinubu-led administration's resolve to remove subsidy on fuel.
This development, some members of the public argued while speaking with our correspondent, might have increased the fear of a possible increase in fuel price, hence many motorists rushed to filling stations to buy the product.
The online publication gathered that some filling stations in Lokoja have fuel but hoarded it in anticipation of what they envisage could be a possible increase in fuel price, to sell the old product with the new price they perceive.
Our investigation revealed that the "artificial scarcity of fuel" has promoted the re-emergence of fuel black marketers in Lokoja with some of them selling a liter of the product as high as N600.
Commercial motorcycle riders, popularly called Okada riders as well as Tricycle riders( kekenapep), have cashed in on the situation to increase their fares.
A trip by keeping from Ganaja junction of three kilometers, which used to cost passengers N50 on Monday has gone up to between N100 and N150 on Tuesday morning.
Some keep drivers told The Reporters that some filling stations had also increased the pump price of fuel, adding that they needed to jack up their fares too to break even, if not to make a gain.
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