Fuel marketers ignore new price regime
Sequel to the slash in pump price or Premium Motor Spirit (PMS) popularly called petrol by N20 from N145 to N125 per litre by the Federal Government, petroleum products marketers are yet to comply fully with the new pricing regime.
Market intelligence in Lagos shows that both the major and independent marketers have not adjusted their meters to reflect the new pricing regime expected to have commenced throughout the country.
Most of the managers and attendants approached to comment on the delays in adjusting the meters feigned ignorance of the new pricing policy, while consumers were ‘forced’ to buy petrol at the old price of N145 per litre.
This development seems strange as marketers are quick to adjust their metres whenever prices are increased.
A private car owner, Mr. Adams Orilowo who spoke with MARKETING EDGE at a filling station in Pen Cinema area of Agege, Lagos, said the Nigerian National petroleum Corporation (NNPC) should deploy its officials to ensure that marketers sell at stipulated price so as to ensure that Nigerian petrol consumers benefitted.
Orilowo, however, commended the government for the price reduction of N20 per litre, adding that this would ameliorate the harsh economic condition being experienced by poor Nigerians.
Mrs. Aminat Danda who also spoke on the issue carpeted the marketers for their greedy tendencies, even as she noted that petrol should not sell more than N100 per litre as, according to her, “Nigeria is an oil producing country and I see no reason why petrol should not be cheaper”.
Meanwhile, in compliance with the Federal Government directives on Wednesday, the NNPC has reviewed its Ex-coastal, Ex-depot and NNPC retail pump prices accordingly.
“Effective from today, NNPC’s Ex-coastal price for pms is now N99.44 per litre as against N117.6 per litre before the price reduction, while Ex-depot price is now N113.28 per litre compared to N133.28 in the old price regime. NNPC Retail pump price is also pegged at N125 per litre,” the statement said.
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