On Monday, long queues unexpectedly formed at certain gas stations in Lagos State, causing panicked purchases from drivers all around the region.
The change occurred when newly elected President Bola Tinubu announced in his inaugural speech that the contentious oil subsidy would be eliminated.
READ ALSO: 7 Key Points From Tinubu’s Inaugural Speech
Objectv Media observed cars lining up in a few sections of the city as other customers were seen purchasing the commodity using kegs and jerrycans of various sizes.
Some of the fuel stations seized the opportunity to jerk up the price from N184 per litre to as high as N250 per litre.
Other fuel stations which earlier were seen opening for business, later shut their gates, apparently, hoarding the product.