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Petrol Price May Jump To ₦‎750 Per Litre — IPMAN - Politics - Nairaland

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Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by adenigga(m): 7:32am On Aug 11, 2023
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the pump price of Premium Motor Spirit (PMS) may rise to about N750 per lit

The association’s national spokesperson, Chinedu Ukadike conveyed this while speaking in Abuja.

He pointed out that the Nigerian National Petroleum Company Limited (NNPCL) currently maintains its ex-depot price at N587.7. However, if the NNPCL adjusts its prices, “other marketers will do the same.”

Furthermore, IPMAN called on the government to implement strategies to prevent the naira from depreciating further.

Ukadike said, “There will be a 10 per cent increase because the dollar was N750, now is over N900 that is almost a 20% increase if you apply this, you should be talking about N750/ litre.

“Currently, the dollar rate at the parallel market as of today is N910 which also means that the landing cost of PMS will increase and the domestic price of PMS will also increase.

“People should understand that government is no longer subsidizing and there is no local production in Nigeria. Had there been local production, it can be able to cushion the effect of too many naira pursuing the dollar. It would have helped us and saved the naira.

“If the government does not do something drastically, before the end of this year, Naira may be close to N1,100 per dollar and this will be a serious inflation for Nigeria.”

The pump price of the product has increased twice since the Federal Government removed fuel subsidy, hence market forces are now allowed to determine prices.
Source: https:///Petrol-Price-May-Jump-To-N750-Per-Litre-IPMAN

3 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Nobody: 7:33am On Aug 11, 2023
When it has already

13 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by MEEVEET: 7:34am On Aug 11, 2023
U mean for igbos? Abi ?

244 Likes 31 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by izonborn098(m): 7:35am On Aug 11, 2023
Just matter of time'' everything will set'
No amount of fuel or what can spoil jagaban govt' he said na him turn so everybody should be patient.

11 Likes 6 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by adebayo987: 7:48am On Aug 11, 2023
Wait first, na Niger junta wahala dey our hands right now.
adenigga:


The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the pump price of Premium Motor Spirit (PMS) may rise to about N750 per lit

The association’s national spokesperson, Chinedu Ukadike conveyed this while speaking in Abuja.

He pointed out that the Nigerian National Petroleum Company Limited (NNPCL) currently maintains its ex-depot price at N587.7. However, if the NNPCL adjusts its prices, “other marketers will do the same.”

Furthermore, IPMAN called on the government to implement strategies to prevent the naira from depreciating further.

Ukadike said, “There will be a 10 per cent increase because the dollar was N750, now is over N900 that is almost a 20% increase if you apply this, you should be talking about N750/ litre.

“Currently, the dollar rate at the parallel market as of today is N910 which also means that the landing cost of PMS will increase and the domestic price of PMS will also increase.

“People should understand that government is no longer subsidizing and there is no local production in Nigeria. Had there been local production, it can be able to cushion the effect of too many naira pursuing the dollar. It would have helped us and saved the naira.

“If the government does not do something drastically, before the end of this year, Naira may be close to N1,100 per dollar and this will be a serious inflation for Nigeria.”

The pump price of the product has increased twice since the Federal Government removed fuel subsidy, hence market forces are now allowed to determine prices.

Source: https:///Petrol-Price-May-Jump-To-N750-Per-Litre-IPMAN

4 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Houseontherock1: 7:50am On Aug 11, 2023
Studies have shown that there is low drive or motivation towards self development on the part of Africans generally- leaders and followers alike! Hence the lack of vision and interest in sustainable development. Sadly, the situation in Nigeria will remain the same because every 4 years, one visionless, missionless, uninspired and unmotivated selfish individual will rise to the office of governor, senator, state and federal rep, commissioner, LGA chairperson and president and the cycle continues undecided

105 Likes 6 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Dreal1247: 7:51am On Aug 11, 2023
It's quite obvious that the price of petrol per litre is to hit a thousand Naira. Everyone needs to braceup.

54 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Racoon(m): 7:51am On Aug 11, 2023
And the shege promax continues.

80 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by SIONKPO1(m): 7:54am On Aug 11, 2023
1 Dollar - N920
Fuel - N615/Litre
Crate of Egg - N3,500
A bag of cement - N5,200
A bag of pure water - N350
A bag of rice - N45,000

Transportation tripled.
Accommodation doubled.
No significant change in salaries, except for some bankers.

People have been managing to survive - taking loan from loan shark to sort the ones they took from another.

The survival threshold will soon break and when this happens the poor will have nothing left to eat but the rich.
Nigerians were warned about APC but allowed Ethnicity and Religion to blindfold their decision.
SHEGE-PRO MAX PLUS

246 Likes 32 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by AwokenVawulence: 8:00am On Aug 11, 2023
Vawulence
We are teaching them some political lessons,that buying dollar at 1000 is better than 200 and buying fuel at 750 is the best grin grin
Anyways this is not the issue now what's is important is how we prepare for the upcoming war with Niger grin grin

128 Likes 12 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by BoldBrainz(m): 8:03am On Aug 11, 2023
adebayo987:
Wait first, na Niger junta wahala dey our hands right now.

Which shouldn't even be our problem, if you stop to think about it.

This issue of petrol price increase is being addressed here as a matter of presumption. It is not. The price of petrol is certainly going to be raised within the next two weeks, depending on when the next shipments of products arrive the sea ports. And there's literally nothing even Tinubu can do about it, as long as the naira keeps collapsing against the dollar.

8 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by easyfem(m): 8:09am On Aug 11, 2023
Is that a threat ? ..... the whole thing has scatter so jump if you wanna jump mr petrol .....seem apc gov or tinubu is reducing his term with the sad news ... but e no go better for BUARI ijn

5 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by 001Lagos: 8:09am On Aug 11, 2023
Una go see mehme

23 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Dexy4yah(m): 8:09am On Aug 11, 2023
Some dickheads are still supporting our oppressors just because they are from thesame tribe.

That's the most foolish thing i still don't seem to understand

122 Likes 7 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Warldbest(m): 8:09am On Aug 11, 2023
May thunder strike anybody that supported or rigged this current apc government

100 Likes 5 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Cheryph200(m): 8:10am On Aug 11, 2023
Una just start

4 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by NaijaCover(m): 8:10am On Aug 11, 2023
Thank God, I don Buy 40 Litres Of Fuel Yesterday

Don Over Come, This Fuel Stuff And The Increase Wahala

6 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by MrsTwrite(f): 8:10am On Aug 11, 2023
Too bad.

1 Like 1 Share

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by motionarena: 8:10am On Aug 11, 2023
Geh geh.

Once talk like this come out ee dey happen

3 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by SenatePresdo(m): 8:10am On Aug 11, 2023
Turn by turn oh
Na jagabanu turn ooh
Turn by turn oooh
Na jagabanu turn..


I dedicate this song by Asari Dokubu to jaganbandits, stupid jam grin


We obidients are learning the lesson you people are teaching us grin

46 Likes 6 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Hezmatosky: 8:11am On Aug 11, 2023
Agbado sef don add money undecided

31 Likes 1 Share

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Guyman01: 8:11am On Aug 11, 2023
This planned new increase will favour me and my family, all I need is just to drive into NNPC filling station with my APC membership card and scream Yoruba Ronu ooooo and they will sell for me at N150

74 Likes 7 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by id4sho(m): 8:11am On Aug 11, 2023
Just kill us tongue

2 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by chidiebere2020(m): 8:11am On Aug 11, 2023
God

1 Like

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Ezmans: 8:11am On Aug 11, 2023
The strategist is strategizing

11 Likes 2 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Pennywise2: 8:11am On Aug 11, 2023
People that should be begging us are now warning us chai. That's the problem of selfish politics. The owners of the oil are now government and marketers. One day, the people will rise.

18 Likes

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by rex21: 8:12am On Aug 11, 2023
Petrol subsidy was removed and import restrictions was also removed. What do you expect in an open market where the major players(importers) are united. Do you think there will be any healthy competition that will lead to price reduction ??

The restrictions on the dollar was stretched
/removed in a nation where our living is more than 90% dependent on importation. Do you expect the pressure on the dollar to reduce now that anyone can access them to import anything.

This government should rethink their economic policies please.

7 Likes 1 Share

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by Odingo1: 8:12am On Aug 11, 2023
That what Tribalism cause, Igbos are the problem of Nigerians why everyone suffers.

Reno omokiri, FKK, Keyamo etc will soon tell you how Igbos cause it.

45 Likes 3 Shares

Re: Petrol Price May Jump To ₦‎750 Per Litre — IPMAN by concreteaffairs: 8:12am On Aug 11, 2023

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