The National President of the Independent Marketers Association of Nigeria, Abubakar Garima, has disclosed that the Nigerian National Petroleum Company Limited is presently requesting that oil marketers purchase petroleum products from its depot in Lagos State for N1,010 per liter.
According to him, the price peg is much more than what the oil company paid to purchase products from the Dangote Refinery.
On Wednesday, NNPC retail stations raised petrol prices in Abuja to N1,030 per liter from N897 per liter and in Lagos to N998 per liter from N868.
Other locations experienced similar price increases, inciting outrage among Nigerians.
Speaking on ChannelsTV's Sunrise Daily on Thursday, Garima said the corporation paid between N800 and N900 for the product from the refinery but is requesting marketers to buy it at N1,010 per liter in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri.
The IPMAN chairman ascribed the recent fuel price adjustment to the effects of the sector's deregulation.
He said, “Well, we know now that we cannot call it an increase, but rather, we can call the removal of subsidy deregulation.
“Now, deregulation has started taking place fully,” he added.
