If the directive of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to its members in the South West is anything to go by, Nigerians would start paying N162 for a litre of Premium Motor Spirit (PMS), popularly referred to as petrol.
The South-West Zonal Chairman of IPMAN, Alhaji ‘Dele Tajudeen disclosed this today in a telephone conversation with journalists in Abeokuta, the Ogun State capital. He said the announcement of N151.56k loading price by the federal government leaves them no other option than to dispense to end-users at N162.
He said the N162 retail price will take care of their overhead costs like the cost of diesel to power the dispensing machines; pay the cost of transporting the fuel from the depot to their respective filling stations and also settle their statutory levies with the appropriate regulatory agencies.
He added that by the time they finished paying all these levies, the cost of discharging fuel at the petroleum filling stations would have shored up to N160, hence dispensing the product at N162 would enable IPMAN members to be able to pay the staff bills and make some profits.
Meanwhile, the National Association of Nigerian Students, NANS has kicked against the price increase, describing it as “insensitive”.
The students’ body has given the federal government 48 hours to revert to the old price saying Nigerians are already impoverished by the adverse economic policies being implemented.
The student body, in a statement signed by the South-West Zonal Coordinator, Comrade Kappo Samuel Olawale, and Comrade Nurudeen Olatunji, the Public Relations Officer, on Wednesday, said it appeared that the APC-led government was no longer ready to reciprocate the goodwill it enjoyed that made Nigerians vote it into office in 2015.
“Nigerian students believed in the ideology and the well-presented manifesto of the APC led federal government when seeking the mandate being enjoyed. Shockingly, going by the retrogressive policies of the APC led federal government, our interest in this government is beginning to wane. We think trust should be reciprocal. You should compensate Nigerians based on the delivery of the manifesto which we voted for. It’s fast becoming a criminal decorum to remain reticent in these lingering increments which are not tantamount (sic) to the expectation of Nigerians.
“These excruciating increments are not masses friendly policy neither friendly with the current situation when Nigerians are sweating profusely before food can be seen on their tables. There’s no dissenting opinion about the fact that the ravaging Coronavirus has wrecked a lot of havoc. The economy is dwindling, many Nigerians have lost their jobs, many breadwinners have kicked the bucket, and so on.
“As we speak, electricity tariff is about N5000 for 80 units depending on your choice of subscription. Petrol is now N162 per litre contrary to N87 per litre that Nigerians are used to. On this note, we urge President Muhammadu Buhari and APC bigwigs to quickly intervene and bring needed succour before it would be too late. If there’s no remedy, we shall not hesitate to storm the streets with our arsenals and demand our right through a very massive protest.”