Index to Nigerian Newspapers

Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly known as petrol, would hit N515/litre once they source foreign exchange rate at the parallel market. The Independent Petroleum Marketers Association of Nigeria has called on the Federal Government to provide opportunity for marketers to start importing petrol by enabling dealers to have access to foreign exchange. Currently, the Nigerian National Petroleum Company is the sole importer of PMS into Nigeria, as other marketers stopped importing due to their inability to access the United States dollar. Ukadike called on the government to give oil marketers the opportunity to start importing petrol, as the commodity was now deregulated. He identified the lack of the United States dollar as a challenge, but the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced that it was no longer going to fix the prices of petrol or release templates for the commodity.

Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly known as petrol, would hit N515/litre once they source foreign exchange rate at the parallel market. The Independent Petroleum Marketers Association of Nigeria has called on the Federal Government to provide opportunity for marketers to start importing petrol by enabling dealers to have access to foreign exchange. Currently, the Nigerian National Petroleum Company is the sole importer of PMS into Nigeria, as other marketers stopped importing due to their inability to access the United States dollar. Ukadike called on the government to give oil marketers the opportunity to start importing petrol, as the commodity was now deregulated. He identified the lack of the United States dollar as a challenge, but the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced that it was no longer going to fix the prices of petrol or release templates for the commodity.