Joseph Obele, the chairman of the Rivers State chapter of the Independent Petroleum Marketers Association of Nigeria, has urged the federal government to see that the nation’s refineries are repaired in accordance with schedule.
If the refineries start operating, Obele predicted that the price of petroleum motor spirit, better known as petrol, would fall below N200 per litre.
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The withdrawal of the petrol subsidy, which caused a proportional increase in gasoline costs and a rise in the cost of living, is the background to this.
During a visit to the Port Harcourt Refinery last Friday, Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), reaffirmed the Federal Government’s commitment to getting the refinery up and operating.
However, Obele expressed concern in an interview with Saturday PUNCH that the lack of dollars had continued to impact importers, adding that the goods will escalate if the government did not provide a temporary fix.
He said, “Until our nation-owned refineries are functional, fuel prices will keep increasing due to international variables. But when our refineries are functional, Nigerians will buy fuel less than N200 per litre.
“The scarcity of dollars has made it difficult for importers of petroleum products to continue further importation. For about two weeks now, the petroleum distribution chain has experienced turbulence. This is evident on the NNPC buying portal of marketers.”
