According to the Independent Petroleum Marketers Association of Nigeria, oil marketers may not kick against plans to increase the price of PMS, popularly called petrol, but such a move will face resistance from the masses. He said, “Any increase in the cost of PMS will not work well with Nigerians. However, we marketers are not against any increase (in pump price) provided that our margins are there and clearly stated. The Major Oil Marketers Association of Nigeria and Depot and Petroleum Products Marketers Association had recently threatened to lay off employees if the Federal Government failed to pay the over N650bn debt that it owed oil dealers. In fact, in Africa, the cost of fuel in Nigeria is one of the cheapest if not the cheapest.

Source: Punch April 05, 2018 23:03 UTC