₦airaland Forum

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

When it has already

U mean for igbos? Abi ?

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.

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

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

It's quite obvious that the price of petrol per litre is to hit a thousand Naira. Everyone needs to braceup.

And the shege promax continues.

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

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
Anyways this is not the issue now what's is important is how we prepare for the upcoming war with Niger

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.

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

Una go see mehme

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

May thunder strike anybody that supported or rigged this current apc government

Una just start

Thank God, I don Buy 40 Litres Of Fuel Yesterday

Don Over Come, This Fuel Stuff And The Increase Wahala

Too bad.

Geh geh.

Once talk like this come out ee dey happen

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


We obidients are learning the lesson you people are teaching us

Agbado sef don add money

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

Just kill us

God

The strategist is strategizing

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.

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.

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.