More Hardship?

Nigerians should prepare for another increase in the pump prices of petrol, due to the continued scarcity of foreign exchange to finance the importation of the product, oil marketers have said.

According to them, the United States dollar hit an all-time high last week, as it exchanged for N400 at the parallel market.

Worried by the development, the marketers say if not urgently addressed, the pump prices of petrol will not remain at the approved rates.



The Federal Government liberalised the downstream sector of the petroleum industry on May 11, 2016, and announced an increase in the pump prices of petrol from N86 and N86.5 per litre to between N135 and N145 per litre.

It also stated that the market was to be driven by the factors of demand and supply, as it was now largely in the hands of private sector players.

But oil marketers told our correspondent on Monday that despite the competition in the business, they were struggling to retain the price of the Premium Motor Spirit within the approved range.

“The truth is that Nigerians just have to brace for higher PMS price; there are no two ways about it. The government cannot fund this market; the money is not just there. Even if the government wishes to assist, it does not have the wherewithal to do. So, Nigerians should brace for higher rates,” an official of one of the notable oil marketing companies, who spoke to our correspondent on condition of anonymity, said.

I don't just know what to say. Nigeria which way nw.

Everyday Badnews!!!
NA here Satan land when Jesus pursue am from Heaven?

I must go back to sleep bcs i just on my phone and check NL na bad news i first read everyday bad new oti su mi

naija Hwfar na which way forward.... things jxt getting from bad to worst#o lord save us all

Petrol is no longer a Government only affair. If the marketers buy Dollar high then they will equally sell high. Those destroying pipelines and being supported by human beings are responsible for Dollar scarcity as Nigeria doesn't get enough to satisfy basic demand. I blame a combination of our past rulers but with the highest blame to Jonathan regime for failing to come out plain on time and deceiving Nigerians until we got stretched and was borrowing for recurrent expenditures.

This country sha..

Our story is similar to a man who cultivates yam but could not roast same for his family to eat. He would rather give more yams to his neighbours to roast the ones his family will eat than preparing it himself.

APC thinks say na gragra dem dey take rule a country. Within a year they just mess up this our country this bad. If care is not taking they will go down as the worst Naija govt. I dey laugh oo