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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Fuel Scarcity: PENGASSAN threatens to down tools if...........

Drivers refuse to work


By Akinola Ajibade


Nigeria may experience a more daunting economy, if the threats by the  Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN),to down tools over the lingering fuel scarcity soon, is anything to go by.

Penultimate week, PENGASSAN through its President and General Secretary,  Comrades Festus Osifo and Lumumba Okugbawa respectively threatened to embark on a national strike, in the event that the Federal Government and other relevant authorities in the nation's petroleum industry, refuse to stop the on-going r as racketeering in the fuel supply chain and further put an end to acute shortage of fuel, which has entered its third months in Nigeria.

According to a statement, signed and issued to the News Mirror yesterday ( Monday), the body does not see any justification for increase in price of fuel and the attendant agony imposed on majority of Nigerians.

The group further carpeted oil  marketers for selling fuel to Nigerians at a very expensive prices, adding that marketers have , by do doing, created artificial scarcity of the product in the country.

The statement said:”While we understand that the parameters imputed into the old PPPRA and now Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) template has since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of AGO amongst others, there is no sufficient justification for PMS (Petrol) to be selling for such highly inflated price, thereby subjecting the masses to further difficulties.

“Even though we have some good marketers who tend to play by the rules, others who are overbearing have deployed methods of creating artificial scarcities in other to hike the price of the product uncontrollably as the prices of the product now sells between N185 to N400 depending on your location and outlet.

“From data available to us from our members, there is over 30 days PMS sufficiency in the country; hence there is no basis for the current scarcity and hardship that Nigerians are being subjected to. We hereby call on the management of NMDPRA to compel all marketers and retailers to make the products available at approved price.

“They should immediately mobilize all their staff in various locations across the country to monitor compliance and anyone found wanting, should have their license revoked to serve as deterrent.Should this collusion go on unchecked, we will not hesitate to partner with other stakeholders in ensuring that Nigerians are not further exploited.A stitch in time saves nine

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