The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed the recent adjustment in the price of petrol to the impacts of the deregulation of the sector.
IPMAN president Abubakar Garima says the recent fuel price hike cannot be called an increase but rather the removal of subsidy deregulation, saying deregulation has started taking place fully.
Recall that retail outlets of the Nigeria National Petroleum Company Limited (NNPCL) had adjusted the cost of the product in Lagos and Abuja, from the initial price of ₦855 to ₦998.
However, the IPMAN president says with the sector now fully deregulated, availability will no longer be an issue.
He said now that the NNPC is not the sole importer; the participation of other marketers will make for surplus availability of petrol.
Blaze Fm