Independent marketers of Premium Motor Spirit, popularly called petrol, plan a lockdown on their operations beginning today, Monday once the Federal Government starts enforcing the N195/litre pump price.
It was gathered at the weekend that the Nigerian National Petroleum Company Limited (NNOCL), Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria (IPMAN), security agencies, and the downstream regulator had all agreed that petrol is sold at N195/litre.
Oil marketers said the agreement was reached at a meeting in Abuja on Tuesday, as participants resolved that beginning from Monday, February 6, 2023, the pump price of petrol should not exceed N195/litre, a development which dealers, particularly independent marketers, described as tough, due to the high ex-depot price of the commodity.
They told newsmen that to avoid having their outlets sanctioned, many filling stations operated by independent marketers would be shut from Monday, as it made no business sense to sell a product lower than the cost price.
This will further prolong the petrol scarcity, and queues in many parts of the country, as independent marketers control about 80 percent of filling stations nationwide.
