The Rivers State Chairman of the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Francis Dimkpa has given an understanding of the staggering state of petrol pricing in the country in what he says is now “stable”.
Speaking on Nigeria Info’s Morning Crossfire, Dimkpa said the price of petrol may continue to fluctuate due to the purchasing power of the Naira to the Dollar.
He added that until the nation's moribund refineries are fixed the price of petrol will remain unstable. This follows a proposed increase in the price of petrol from 617- 720 naira per litre by petroleum marketers at the weekend.
Dimkpa also clarified that licenses have not been issued to any marketer under PETROAN to import petroleum products into the country.
This comes barely 2 months after the federal government said six new companies have received approval to import petrol into Nigeria.
Dimkpa explained that these companies are tank farm owners, noting that approval to import does not translate to immediate importation of the product.
He stated that while getting a license to import will bring down the cost of the pump price of petrol, the association is more interested in the functioning of the refineries.
Rehabilitation of the Port Harcourt Refinery
The Rivers PETROAN Chairman further expressed displeasure with the progress of the ongoing rehabilitation of the Port Harcourt refinery.
Earlier, the federal government had announced that the Port Harcourt refinery will resume operations in December 2023 in a bid to ease the harsh impact of the fuel subsidy removal on transportation.
Dimkpa also called on the government to ensure the rehabilitation of the Eleme axis of the East-West Road and other routes leading to the Port Harcourt Refinery ahead of its commencement of operations in December 2023.
Watch here:
