By David Kabiyesi
Word was rife in Abuja that there are moves by oil marketers to ensure fuel pump price sell for N700 per litre in Northern Nigeria, while those in Lagos should be ready to buy a litre of PMS at N600, iwitnesslive.com can report.
Indeed, this new projected price, iwitnesslive.com gather will take effect from July this year, as residents in the northern and southern Nigeria are said to be bracing up for what is ahead.
Also, residents outside these two geo-political zone are expected to pay N610 per litre as well.
National Controller Operations, Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, told newsmen on Wednesday that the new price will come into full effect when independent marketers start importing products in July.
“What I am seeing is around N600 and above, depending on the exchange rate, the current crude price at the international market, and the landing cost. Those in Lagos will pay around N600, those outside Lagos around N600 plus, while those in the north would be paying anything from N700 and above,” he said.
The downstream sector currently awaits fresh petroleum products as the Nigerian Midstream and Downstream Petroleum Regulatory Authority continue to license operators willing to get involved in the importation business.
