AMILOADED MEDIA HUB NEWS UPDATE
Nigerians across the country are groaning as the cost of Premium Motor Spirit (Petrol) has hit over N1000 per liter in many parts of the country.
Reacting to the development, the President of Independent Petroleum Marketers of Nigeria, IPMAN, Abubakar Maigandi urged Nigerians not to panic over NNPCL’s admittance of financial indebtedness and anxiety over the pump price hike.
“Nigerians should not panic about the position of financial strain by NNPCL. It is normal for businesses to be indebted.
“We are working with NNPCL to see that the product is available for Nigerians.
“If there is a price increment, NNPCL would have announced, same with the availability of the product”, he told DAILY POST.
When asked about the cost marketers are buying petrol, he said, “those who obtain their product through the NNPCL sell at N650 to N700 per liter and those who get through the private depot owners sell at N920.
“Marketers who carry the product, especially those who are carrying from Lagos State to Maiduguri in Borno or Calabar, Cross State to Maiduguri, will be above N920 because they have to add their transportation cost and profit margin.
“We want NNPCL to give petrol to our members directly.”
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