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Business News of Tuesday, 21 June 2022


Breaking: Petrol marketers increase pump price amid scarcity

Long queue for fuel Long queue for fuel

Nigerians are now paying more for petrol despite the official price still fixed at N162.50 and N165 per litre.

Independent marketers, who started implementing a new price regime of between N170 to N190 at the weekend, insisted yesterday that it would be difficult for them to sell at the official pump price.

Besides, scarcity of the product resurfaced in Lagos, Akure, Ado-Ekiti, Abeokuta, Jos, among other towns in the Southwest.

Independent Petroleum Marketers Association of Nigeria (IPMAN) in a statement by its Lagos State Depot Secretary, Akeem Balogun, said:

“With the current price, there is no way we can sell less than N180 per litre.

“Members are hereby advised to sell at a sustainable price within their environment. Just make sure that the price is on your pump.

“Kindly contact the Secretariat should you have any authority challenging your operations.”

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