It was gathered that the cost of AGO was still between N990 and N1,100/litre on Monday, though many filling stations lacked the product, as they blamed this on the high price of diesel.
The Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, said, “Yes, we heard the announcement yesterday that VAT on diesel has been removed, but as I speak with you, the cost of diesel is still between N990 to N1,100/litre, depending on where you are getting it from.
Reacting to the directive after the Federal Government met with the leadership of the Nigerian Labour Congress and the Trade Union Congress on the Independence Day, Chairman Satellite Depot, the Independent Petroleum Marketers Association of Nigeria, Akin Akinrinade toldon Monday, that prices of diesel would still not reduce until a new directives was issued from the regulator of the downstream sector, the Nigerian Midstream and Downstream Petroleum Regulatory Authority to the effect.
“And don’t forget, we buy from the depots. So, let us see how much they would sell to us first once new stocks start coming in. For now, we still have old stock that would be sold at an old price. We would need to sell off our old stock before we start buying new products. This implies that there won’t be an immediate drop in price until we finish selling the old stock and new products start coming into the country; and that could take as long as the next three weeks.
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