Deregulation: Marketers alert Nigerians to expect N195 per litre of petrol for policy inconsistencies

*The Independent Petroleum Marketers Association of Nigeria decries what they described as ‘inconsistencies’ on the part of the Federal Government, Nigerian National Petroleum Corporation, and its subsidiary on downstream sector deregulation policy

Isola Moses | ConsumerConnect

Blaming their projection policy inconsistencies by the stakeholders’ in the downstream sector of the economy, the Independent Petroleum Marketers Association of Nigeria ( IPMAN) have advised Nigerians to expect a higher petrol pump price, possibly at N195 per litre in the coming days.

The IPMAN members decried what they described as “inconsistencies” on the part of the Federal Government, the Nigerian National Petroleum Corporation (NNPC), and its subsidiary, Pipeline and Products Marketing Company (PPMC), on deregulation policy, reports Vanguard.

The NNPC recently ruled out immediate price rise until a scheduled meeting between the Federal Government and Labour unions at the end of February 2021.

Whereas the Trade Union Congress (TUC) said it would not react until the price was officially announced, the pro-Labour civil organisation, Joint Action Front (JAF) rather said the marketers’ position did not come to them as a surprise.

JAF blamed the development on the failure of the trade union movement to defend workers against policies inimical to their interest.

Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the NNPC, reacting to the development was quoted to have said: “NNPC has not increased its ex-depot price, and has no plan to do so in February 2021.”

However, IPMAN members said that despite NNPC’s assurance of product availability, independent marketers could not access the product from NNPC depots.

According to the marketers, this has forced them to rely on independent depot owners for supplies.