NAIJA NEWS:
The Ore depot branch of the Independent Petroleum Marketers Association of Nigeria, PMAN, has undermined to build cost of oil from the affirmed cost of N145 to about N160 per litre.The chairman of the branch, Shina Amoo, disclosed to Punch that marketers in a few states in the South-West would not need to build oil cost since Depot and Petroleum Marketers Association of Nigeria had expanded the costs of fuel sold to marketers by N16.
As indicated by Amoo, such activity would push petroleum price to about N160 per litre.
He noticed that however the Nigerian National Petroleum Corporation, NNPC, did not build the value they provided the item to private depot proprietors.
He said the private depot owners had sold the item to advertisers at N144 per litre.
He said, “We want members of the public to know that we can no longer continue to sell fuel at the government approved price.
“The private depot owners sell a litre to us at a price between N142 and N144 per litre, which should be sold at N133.28. They got the product from the NNPC at N117 per litre.
“We will transport the product from the depots to our various stations and pay workers as well as incur other expenses.
“So, how will anybody expect us to continue to sell fuel to consumers below the cost price? It is not possible. We will have to increase fuel price to about N160 per litre.”
The Chairman, therefore, summoned NNPC to expedite action on the Ore depot so that marketers in Ondo, Osun and Ekiti states would be able to lift petroleum products directly from the depot.
