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Reps Fight To Reduce Price Of Petrol… See New Price

The House of Representatives has called on the Ministry of Petroleum Resources and Petroleum Products Prices Regulatory Agency (PPPRA) to review the current price of petrol to N70.04 per litre.

The call followed a motion by a member, Abubakar Fulata, titled “Urgent Need to Review the Petroleum Price Template”.
fuel-pumpFulata, who revealed that NPA’s inability to dredge the ports despite collecting N0.84 for every liter of petrol, had caused Nigerian users to pay N4.56 for every liter of petrol they buy, said:

“I am aware that the current cost of freighting PMS stands at N109.1, Lightening expenses N4.56, Nigeria Ports Authority charges N0.84, NIMASA charges N0.22, Financing N2.51 and Jetty put charges at N0.60.

“Storage charges N2.00, retailers margin N6.00, transport allowance N3.36, dealers margin N2.36, bridging fund N6.20 and marine transport average put at N0.15 bringing the total cost to N137.81,”

“Thus, the total of both the landing and distribution costs is N138.11, while marketers are allowed to sell the product within the range of N140 and N145 per litre,”

“Bridging is supposed to be an annual event only when refineries are carrying out their turn around maintenance which should not exceed three months,”

“However, due to the fact that pipelines linking the various depots have been vandalized or in a state of disrepair, bridging has remained a permanent feature of the oil industry in Nigeria.”

“Also a realistic template would bring down the price of petrol to N70.04,”

The House also set up an ad-hoc committee to liaise with the Federal Ministry of Petroleum Resources on the review of the price of petrol.

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  • Cornel Nwankwo

    All these corrupt men, they are fighting for this so that they can start to market these fuel out of Nigeria as their personal businesses

  • Kenny D Osonwa

    Seen, let’s keep watching..

  • chika bibian

    Is alright

  • comrade segun

    Good news

  • Mohammad Isah

    It will be well

  • emekachilaka

    Lol 😁 de just de wake up from sleep rubbish

  • Mezzy Gilbert

    OK make we watch na

  • Olovo Obinna

    It will be the joy of all Nigerians unless the person na witchcraft….because transport this days na something else

  • kayode akinsanya

    That would be a good one i hope they’re not trying to give us BOBO to drink sha

    • Olovo Obinna

      Lol

    • Mezzy Gilbert

      I tell u

    • chika bibian

      Hahaha

  • Anytime these ones are fighting something is fishy

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