On Monday, long queues unexpectedly formed at some gas stations in Lagos State as panicked drivers rushed to fill up their vehicles after the removal of subsidy.
In his inauguration address, newly elected President Bola Tinubu said that the contentious oil subsidy would be eliminated.
While other customers were seen carrying various-sized kegs and jerrycans to purchase the commodity, News Central journalists observed cars lining up in a few sections of the capital.
Some gas stations took advantage of the situation to abruptly increase their prices from N184 per litre to as much as N250 per litre.
Other gas stations that had been spotted opening for business early closed their doors later, ostensibly stockpiling fuel.
Long lines that caused traffic congestion could be seen in places like Ikeja, Agege, Ojodu, Egbeda, Airport Road, Iyana-Ipaja, and Obalende, among others.
The few locations where the product is sold along the Egbeda/Idimu Road saw automobiles scrambling for them, while passengers were spotted stuck at several bus stations waiting to board commercial buses.
Few of the buses that were operating for profit raised their fares by 50% to 100% out of concern about an anticipated shortage.
A once-N200 trip from Egbeda to Ikotun was abruptly increased to N300. A journey from Egbeda to Ikeja, which used to cost between N250 and N300, now costs N400. Due to the outrageous fares, some commuters refused to board it.
The situation was the same at the local council’s Iyana-Ipaja end, where some people could be seen squeezing onto the few buses that ran the various routes.