Final Decision on New Fuel Price in Nigeria NNPCL Marketers Speak
Final Decision on New Fuel Price in Nigeria NNPCL Marketers Speak
New Fuel Price in Nigeria NNPCL Marketers Speak: The reports of an impending hike in gas prices have finally been refuted by marketers and NNPC Limited. The NNPC’s decision to keep rates at the current N600 and N630 per liter has also received complete backing from marketers. In addition, clarification has been provided regarding the reinstatement of the gasoline subsidy that President Bola Tinubu revoked.
There are no plans to raise gas pump prices, according to the Nigerian National Petroleum Corporation Limited and the Independent Petroleum Marketers Association of Nigeria (IPMAN).
This guarantee was provided by IPMAN President Abubakar Maigandi, who also emphasized that the existing N600 and N630 per liter pump prices would not alter unless instructed by NNPCL. According to The Nation, Maigandi disclosed that NNPCL provides marketers with gasoline at a rate of N568 per liter. His quote:
“Yes, we currently sell our products for very little profit, but everyone has to make this sacrifice for the good of the nation.
“We have not received any such instruction to increase the price from NNPCL who is the only importer of the product.”
There are no plans to raise the price of gas at the pump. The final decision on gas pricing was verified by Billy Gillis-Harry, the National President of the Petroleum Retailers Outlet Owners Association of Nigeria (PROOAN), who also spoke.
Speaking on AriseTV, he stated: “There is a clear mandate that we cannot go above that, and NNPC is managing to make it work if the government has declared that they are not providing subsidy and allow petroleum products to climb from where they were about N480 to N630. Let’s acknowledge and commend them.
NNPC discusses gas prices. The public was recently reassured by the NNPCL that the N1,200 new petrol pump pricing that was reported in reports would not occur. NNPC released the following message on its X account:
“NNPC Ltd. reassures Nigerians that there are no intentions to revise the PMS price higher and exhorts them to ignore baseless rumors.
“Motorists everywhere are advised against engaging in buying in panic, as there is still ample availability of PMS in the country.”
Marketers pinpoint the conspiracy responsible for the surge in cooking gas prices in Nigeria. As previously reported by Legit. ng, cooking gas marketers affiliated with the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) have blamed the nation’s high cooking gas prices on LPG terminal owners.
The association’s president, Oladapo Olatubosun, revealed this to the Senate committee on gas while the group members were there. The cost of the commodity has just gone up to N1,200 per kilogram, and many Nigerians are complaining about how expensive it is given the country’s high living standards and rising inflation.
New Fuel Price in Nigeria
