The Chairman, Independent Petroleum
Marketers Association of Nigeria, Mosimi,
Ogun State, Mr. Adeleke Bada, has agreed
with the former Minister of Petroleum, Prof.
Tam David-West, that petroleum pump price
can sell for N40 per litre.
He added that this could only be possible, if
the country refined all crude oil in the
nation’s refineries.
Bada said this in an interview with
journalists shortly after the association’s
Annual General Meeting in Abeokuta, the
state capital.
Bada, who was flanked by other members
of the executive of the association, reacted
to the advice given by former Minister of
Petroleum Resources, David-West, to the
President-elect to reduce the pump price to
N40.
He said “Reducing the pump price of a litre
of fuel to N40 is possible only if the
refineries are working. If you look at the
nature of the market presently, that isn’t
realistic. Do we have the refineries?
“The only reason that it can be possible is
when we have our own refineries and we
do not export our crude oil for processing.
If the processing is done in Nigeria, then it
can be sold at the rate of N40, but not until
all the refineries are fixed.”
He, however, blamed the non-compliance of
sale of petrol at the N87 per litre by some
petroleum marketers on the expenses
incurred by the marketers while trying to
get the fuel available for the use of the
masses.
He said the levies being paid by the
marketers to various regulatory
associations and unions had made the
marketers to increase the prices of fuel to
their desired amount.
He said, “The government has not increased
the price of fuel; it is still N87 per litre.
“But by the time you get to the depot, after
paying around N2.6m for your ticket, a lot
of levies are still to be paid.
“Levies from PTD, IPMAN and all others,
adding them all together with the cost of
transporting your trucks to the station, no
one is ready to run at a loss.”

That's true.. but i heard to repair the refinery company.. it takes up to 100billion.. is that the truth?

David west has promise us, but nw, he has changed his word

ok oo

I believe GMB can do it!! I expect the people's general to crash the price to at least N35/Ltr.
APC!!!
CHANGE!!!