Business New N145 Petrol Pump Price: 4 Important Things Every Nigerian Must Know

[LequteMan]

There was public outcry on Wednesday after the federal government, in a bid to deregulate the downstream oil sector, announced a change to the pump price of petrol.

Here are the facts:

1. Minister of state for Petroleum Resources, Ibe Kachikwu, said the decision was made at a stakeholders’ meeting presided over by Vice-President Yemi Osinbajo and attended by the leadership of the Senate, House of Representatives, the Nigeria Governors’ Forum and labour unions, including the Nigeria Labour Congress, Trade Union Congress, Nigeria Union of Petroleum and Natural Gas Workers, and Petroleum and Natural Gas Senior Staff Association of Nigeria.

2. While the Petroleum Products Pricing Regulatory Agency would be announcing the new price, it would not be more than N145 per litre, - the final approved fuel price could be around N100 per litre, (just saying).

3. The Nigerian Labour Congress, NLC, has vowed to resist the change. (read more about that here)

4. Any Nigerian entity (any Nigerian firm) is now free to import the product, subject to existing quality specifications and other guidelines issued by regulatory agencies.

 

[Bright Odei]

There was public outcry on Wednesday after the federal government, in a bid to deregulate the downstream oil sector, announced a change to the pump price of petrol.

Here are the facts:

1. Minister of state for Petroleum Resources, Ibe Kachikwu, said the decision was made at a stakeholders’ meeting presided over by Vice-President Yemi Osinbajo and attended by the leadership of the Senate, House of Representatives, the Nigeria Governors’ Forum and labour unions, including the Nigeria Labour Congress, Trade Union Congress, Nigeria Union of Petroleum and Natural Gas Workers, and Petroleum and Natural Gas Senior Staff Association of Nigeria.

2. While the Petroleum Products Pricing Regulatory Agency would be announcing the new price, it would not be more than N145 per litre, - the final approved fuel price could be around N100 per litre, (just saying).

3. The Nigerian Labour Congress, NLC, has vowed to resist the change. (read more about that here)

4. Any Nigerian entity (any Nigerian firm) is now free to import the product, subject to existing quality specifications and other guidelines issued by regulatory agencies.

 

[stato]

Need to go and buy myself a tank farm [USERGROUP=15]@News Hub Team[/USERGROUP]

 

[mrsam]

Need to go and buy myself a thank farm [USERGROUP=15]@News Hub Team[/USERGROUP]

Where would you get fuel to power your farm?

 

[stato]

Where would you get fuel to power your farm?

I have corrected my spelling --> tank farm.
Thank farm sounds like a church... might not be a bad idea at this time. The only game in town is to sell hope, although the government have increase the price of that too

 

[LequteMan]

Need to go and buy myself a tank farm [USERGROUP=15]@News Hub Team[/USERGROUP]

I'll do the rest if you'll provide the capital and running expenses. *rolls up sleeves*

 

[mrsam]

I have corrected my spelling --> tank farm.
Thank farm sounds like a church... might not be a bad idea at this time. The only game in town is to sell hope, although the government have increase the price of that too

Even churches are complaining. Pastors claim that the rate of tithing has decreased by 10%