Bleak Christmas appears on the horizon for Nigerians, as the Federal Government, again, jerked up the ex-depot price of the premium motor spirit (aka petrol), which now stands at N155 .17 to marketers as at Thursday night.
Pursuant to this, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to effect a new product pump price of N170 per litre.
IPMAN National Vice President, Alhaji Abubakar Maigandi, who disclosed this Friday morning, said the new ex-depot price of N155 .17 would ordinarily follow the market forces of demand and supply, that is, ‘sell as you buy.’
This is coming two days after the Nigerian National Petroleum Corporation (NNPC) had pacified Nigerians not to engage in panic-buying of the product as there would not be scarcity following ongoing disagreement between the Federal Government and members of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) on the implementation of the Integrated Payroll and Personnel Information System (IPPIS).
While expressing hope that the industrial dispute would soon be settled amicably, NNPC Group Managing Director, Mallam Mele Kyari, had assured that the Corporation has, thus far, emplaced a stock of over 2.9 billion litres of petrol to guarantee seamless movement of people, goods and services across the country in the forthcoming Christmas season and beyond.
But as it now appears, the increased ex-depot price to N155. 17 per litre and eventual pump price of N170 per litre, would invariably make the product unaffordable.
This is even as Nigerians have mounted calls on the Federal Government to consider the option of introducing palliatives to the poor masses against the backdrop of the ravaging Covid-19 pandemic on the nation’s economy.
A frontline rights activist and lawyer, Dr. Kayode Ajulo, had urged the Ministry of Petroleum Resources to direct its agency, Petroleum Products Pricing and Regulatory Agency (PPPRA) to reactivate the nation’s dormant Petroleum Support Fund (PSF) scheme with a view to allowing Nigerians buy the PMS at affordable price.
- Tags: Alhaji Abubakar Maigandi, IPMAN