“NNPCL has reduced importation. And the whole idea was for private individuals to also augment what NNPCL brings in. But marketers are not importing. So NNPCL still remains the only importer,” he said.
Meanwhile, Muhammad had stated in June that the company would cut down its fuel imports programme in August once the Dangote Refinery began to push out refined petroleum products from late July or early August. NNPCL owns a 20 per cent stake in the Dangote Refinery. “There is absolutely no reason. And that is the reason why we are interested in the Dangote Refinery. We are co-owners, shouldn’t we do business with our partners rather than do it with other people?”
Since the end of fuel subsidy, the price of petrol had risen from an average of between N180/N200 per litre, to between N614 and N700 per litre. Although it was later debunked by the NNPCL, rumour had it that the price could go as high as N720 per litre due to the rising exchange rate and increase in the cost of crude at the international market.
Further checks by The PUNCH revealed many major outlets within Lagos metropolis did not dispense fuel to customers on Tuesday. The development sparked fears among motorists who expressed concern that Tuesday’s turn of events could be a prelude to an increase in the pump price of petrol.
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Source: GuardianNigeria - 🏆 1. / 94 Read more »