Friday, May 14, 2021

Petrol marketers revert to N175 per litre in South East

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Naija247news, Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Awka, March 13, 2021 Consumers of Premium Motor Spirit (PMS) in Awka, the Anambra capital and its environs heaved a sigh of relief following the quick reversal of price of product from between N200 and N212 to between N175 and N180 per litre.
Naija247news reports that customers woke up on Friday to see that most filling stations had adjusted their metres to a new rate of more with N37 over what they sold the previous day.
The development, the marketers claimed was a response to the directive from the Petroleum Product Pricing Regulation Agency (PPPRA), even when the Nigerian National Petroleum Cooperation (NNPC) insisted there was no hike in prices.
Mr Geoffrey Muoma, told the News Agency of Nigeria (NAN) that the prompt return to old price was a welcome development.
Muoma said he had concluded arrangement of how he would park his car and start using commercial transportation.
He commended the marketers for effecting the reversal unlike in the past when they would wait to be forced to do so.
Also speaking, Patricia Anwulika, a pump attendant in an outlet on Enugu-Onitsha expressway, said her boss gave the directive for the reversal of price in contradiction of what he said on Friday.
NAN reports that the most marketers have reverted to the former N175 except two that were selling at N180.
Recall that, Mr Chinedu Anyaso, chairman of IPMAN, Enugu Depot Community in charge of Anambra, Ebonyi and Anambra States on Friday night directed members to revert to N170-N175 price range as the increased had been reversed.
“There was uncertainty on price of the product this morning which made some of our members to increase their rates, but I can confirm to you that the increase had been reversed by PPPRA.
“So, we have directed our members to revert and respect the old rate pending further development, but I must add that some of my members bought at high price already,” he said.

Anyaso commended IPMAN members for complying with the directive and minimising the pains of the public while assuring them that the association would always fight for their interest.

He, however, called on PPRA, NNPC and other regulators to always synergise and stop issuing directives capable of sending wrong signal to industry players.
According to him, petrol has far reaching effects on the economy and the marketers and members of the public

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