N125/L petrol price: Lagos, Abuja, Anambra, Kano, others, marketers yet to adjust pump

*DPR to shutdown defaulters station Monday

Image result for nnpc filling station pump price

Two days after the Federal Government announced a downward review of the price of Premium Motor Spirit, PMS, from N145 to N125, marketers in Lagos, Abuja, Anambra, Kano are yet to adjust their pump to the new price.

The Federal Government on March 18 announced a reduction in the price of petrol from N145 to N125 per litre in response to falling crude oil prices to less than 30 dollars per barrel.

iBrandTV exclusively gathered that the Department of Petroleum Resources, DPR will from Monday 23, shutdown down filling stations that fails to comply with the directive.

Meanwhile, iBrandTV reporter who monitored the situation on Friday reports that retail outlets in Ojodu Berger, Apapa, Sabon Gari, Awka, Maitama, Garki, amongst other places in the country were still selling at N145.

READ ALSO: Nigerians to enjoy N125/litre petrol till March 31 — FG

A source said the reduction in pump price was good, but marketers should not be made to bear the cost.

When iBrandTV visited a Nigerian National Petroleum Corporation, NNPC filling station in Ojodu Berger, their pump price was still at N143.5 per litre.

Also, a manager of one of the outlets on Enugu-Onitsha expressway said it was not realistic that they would adjust immediately when they still had products procured at the old rate.

“We cannot sell at N125 for now because the product we have came at above N141, let them allow us to sell off what we have now.

READ ALSO: Atiku advices Buhari: Reduce petrol price, suspend stamp duty now

“The depot owners have to start loading based on the adjusted price and that will make us sell at the new government price,” he said.

According to Anambra Chairman of Petroleum Dealers Association of Nigeria, Cletus Obi-Okoye, implementation of the new price regime should start with the depots. 

“Most of our members still have old stock and appealed that the marketers be allowed to exhaust their stock before enforcement commences.

READ ALSO: Fuel price slash: Reduce your fares, FG tells transporters

However, the Department of Petroleum Resources (DPR) says it would ensure that marketers adjust to the new price.

Mr Okiemute Akpomudjere, DPR Operations Controller in the state, faulted the marketers for refusing to adjust their meters to reflect the new pump price, saying that the adjustment should be automatic.

“Our people are already in the field because there is an ongoing operation.

“The government pronouncement of reduction in pump price is a policy that has to be implemented.

“DPR will ensure that Nigerians, petrol customers are protected by ensuring immediate adjustment, “ he said.

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