The Major Oil Marketers Association of Nigeria (MOMAN) says the deregulation of the sale of Premium Motor Spirit (PMS), also known as petrol, will be beneficial to Nigeria and Nigerians in the long run.
MOMAN’s Chairman, Mr Tunji Oyebanji made the assertion in a statement issued on Friday in Lagos while reacting to the outcry over the recent increment of the ex-depot price of petrol.
The PPMC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), had on Sept. 2 announced a new ex-depot price of N151.56k for PMS against the N138.62k announced in August.
The development had led to an increment in the pump price of the product to between N160 and N163 in filling stations across the state.
Oyebanji said: “So, as things stand, we are into full deregulation.
“Unfortunately, this is coming at a time when most of our citizens are struggling with difficulties created within the context of the post COVID-19 economy.
“However, we believe that Nigeria is been…
Source: Vanguard Newspaper