The Chairman, Independent Petroleum Marketers
Association of Nigeria, Mosimi, Ogun State, Mr. Adeleke
Bada, has agreed with the former Minister of Petroleum,
Prof. Tam David-West, that petroleum pump price can sell
for N40 per litre.
He added that this could only be possible, if the country
refined all crude oil in the nation’s refineries.
Bada said this in an interview with journalists shortly after
the association’s Annual General Meeting in Abeokuta, the
state capital.
Bada, who was flanked by other members of the executive
of the association, reacted to the advice given by former
Minister of Petroleum Resources, David-West, to the
President-elect to reduce the pump price to N40.
He said “Reducing the pump price of a litre of fuel to N40 is
possible only if the refineries are working. If you look at the
nature of the market presently, that isn’t realistic. Do we
have the refineries?
“The only reason that it can be possible is when we have our
own refineries and we do not export our crude oil for
processing. If the processing is done in Nigeria, then it can
be sold at the rate of N40, but not until all the refineries are
fixed.”
He, however, blamed the non-compliance of sale of petrol at
the N87 per litre by some petroleum marketers on the
expenses incurred by the marketers while trying to get the
fuel available for the use of the masses.
He said the levies being paid by the marketers to various
regulatory associations and unions had made the marketers
to increase the prices of fuel to their desired amount.
He said, “The government has not increased the price of
fuel; it is still N87 per litre.
“But by the time you get to the depot, after paying around
N2.6m for your ticket, a lot of levies are still to be paid.
“Levies from PTD, IPMAN and all others, adding them all
together with the cost of transporting your trucks to the
station, no one is ready to run at a loss.”
Source:www.punchng.com/news/petrol-price-can-be-n40-per-litre-ipman/?utm_source=twitterfeed&utm_medium=twitter

This whole issue is just regrettable. Petrol has no business powering homes even in urban cities of Nigeria. I just keep imagining how much spend daily to power their homes, money that should be invested in other areas. Well, I believe the incoming government knows the enormous task ahead of it to rebuild a badly managed and divided nation.

That's good news...if it is achievable. #and I think it is too#

Am not discussing about any public issue again till after 100days of Buhari in office. Because I just discovered some people may eventually succeed in making me hate the buhari I loved due to all of this their utterance. Some of this things people are saying is just set up for Buhari. However, we are all been hopeful a better tomorrow for A better Nigeria.

I am 100% sure that pump price will still drop below the mediocre N87 election pump price when Buhari becomes president and on the long run drop to the least possible price.

We don tire for could be. We want to hear is now 40 naira