Petrol will soon cost less than N200 – IPMAN
Premium Motor Spirit (petrol) will cost less than N200. The Independent Petroleum Marketers Association of Nigeria made this known. The Rivers State chapter of the association gave this information yesterday.
According to Joseph Obele, the chairman of the chapter said that the cost of petrol will reduce if the refineries are functional.
President Bola Tinubu has removed subsidy from the commodity, which drives Nigeria’s economy. And since the removal, the price of the PMS has skyrocketed and this has brought hardship to the people of the country.
The president has assured Nigerians that the. Port Harcourt refinery would be rehabilitated and that it would start functioning by December, 2023. The IPMAN chairman said that the scarcity of dollars has continued to impact the supply and cost of petrol.
He said, “Until our nation-owned refineries are functional, fuel prices will keep increasing due to international variables. But when our refineries are functional, Nigerians will buy fuel less than N200 per liter.”
The IPMAN chieftain further explained to the Punch Newspaper that scarcity of dollars “has made it difficult for importers of petrol products to continue further importation. For about two weeks now the petroleum distribution chain has experienced turbulence. This is evident on the NNPC buying portal of marketers.”
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