Many Nigerians have expressed their displeasure over the new fuel pump
price of one hundred and six two naira per litre, by the Independent
Petroleum Marketers Association of Nigeria, IPMAN.
The increase came immediately after the Petroleum Products Marketing
Company PPMC announced a new depot price regime which increased the
Premium Motor Spirit, also known as petrol, to one hundred and fifty
one naira, fifty six kobo per litre on Wednesday, September 2, 2020.
The PPMC, which is a subsidiary of the Nigerian National Petroleum
Corporation, raised the price from the previous one hundred and thirty
eight naira, sixty two Kobo per litre.
IPMAN said it was necessary to readjust the pump price to read at one
hundred and sixty two naira per litre to enable marketers pay taxes,
levies and overhead cost of lifting the fuel from depot to dispensing
point.
To this end, the ABS Correspondent Emmanuel Chigbata, had a chat with
some Nigerians on the newly announced fuel price, and reports that the
respondents believed that the hike in PMS was insensitive and uncalled
for.
An Ogidi based transporter, Mr. Stephen Okanmelu, condemed the sudden
increase of the pump price, stating that it would worsen Inflation rate which would only affect the poor masses.
A business man from Ihiala, Mr. Damian Okwara, who stated that it has
affected every aspect of human life, noted that price of goods and
transportation will now be unbearable for the masses, urging the
government to bring reverse the decision.
In a telephone interview, an industrialist based in Lagos, Mr.
Benjamin Olisah, said that some masses are now suffering hardship due
to the Covid-19 pandemic, lamenting that the recent hike in fuel price will
further plunged them into untold hardship.
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