Pump price: Oil Marketers surrender, seek soft-landing

By Editor on 04/01/2018

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Petroleum marketers have agreed with the Federal Government to allow the pump price of petrol to remain at N145 per litre, changing their previous stance on the pricing of the commodity.

On Tuesday, the Chairman, Depot and Petroleum Products Marketers Association (DAPPMA), Dapo Abiodun, had stated that the marketers could no longer import petrol at a controlled price of N145 per litre.

The marketers reversed their stance at the meeting of the ad hoc committee set up by the Presidency to get the oil marketers to restart the importation of refined petroleum products.

The marketers also appealed to the Federal Government to grant them tax holidays and other incentives that would help cut their costs when they resume fuel importation.

“Four sub-committees were inaugurated by the minister and we agreed on a price that is good for Nigerians, which of course, is the current price. All these and more will be in the communiqué that will be released soon,” the source who spoke said.

Another source stated that the committees included those on logistics and business conduct, adding that the agreements reached at the meeting would be relayed to the Presidency before the communiqué would be made public.

It was also learnt that heads of some parastatals under the Federal Ministry of Petroleum Resources were members of some of the committees.

It would be recalled that Nigerians became apprehensive of a further rise in the cost of petroleum products at the beginning of this series of meeting.

 

 

Source Whirlwindnews

Posted on January, 4 2018

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