A yet to be substantiated report, but already published by credible mainstream media, claims that the Federal Government of Nigeria may have “quietly” approved ₦185 as the new petrol pump price per liter.
The Guardian newspaper said it had received exclusive information that “the approved pump price was communicated to significant marketers in a memo early Friday, Jan. 13, 2023.
Media reports claim that “fuel stations in Lagos have started adjusting their pump price to the approved ₦185 per liter.
Bay-6 News Online can report that the new price regime for petrol pump prices came after months of heightened scarcity and product sales beyond the general cost, especially in the northern part of the country.
Though the scarcity has been felt nationwide since November of 2022, the northeast has battled with queues and lack of fuel since the beginning of 2022.
In Borno and Yobe states, for example, fuel was sold between ₦250 and ₦310,until now, even though the official pump price was N165.
This news gathered that some significant marketers known for selling at the official rate of ₦165 were forced to jerk up their pump price to ₦200 per liter due to the austere economy. But the ₦200 per liter is still below the rate sold at the independent markets.
It is expected that in the coming days, marketers will begin to adjust their pumps by next week.
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Bay States News 