Currently, marketers are divided across state or associations as to the most appropriate price for the product, with most selling between N150 and N160 per litre, depending on the state. Last month, the approved PPPRA price ranged from N140.80 to N143.80 per litre when the landing cost with wholesale charges stood at N124.84. Its Executive Director, Dr. Zikirullahi Ibrahim, said: “Although the government is making a futile attempt to distance itself from the latest hike of PMS price, the Nigerian people are not fools and cannot be deceived. An energy expert and lecturer at the University of Ibadan, Adeola Adenikinju, insisted that full liberalisation of the petroleum downstream sector remained the way out. He said: “The government cannot continue fixing the pump price of petrol every month and expect private sector investors to be willing to resume wholesale import or build refineries in the country.”

Source: The Guardian August 08, 2020 04:40 UTC