There is a possibility that the price of a liter of petrol will go up - IPMAN According to the Association of Independent Oil Dealers in N...

 

There is a possibility that the price of a liter of petrol will go up - IPMAN

According to the Association of Independent Oil Dealers in Nigeria, it's possible that oil prices may soon surpass 600 naira per litre.

According to IPMAN, this will occur because traders who import crude oil from other nations are unsure about the supply of dollars.

The price of a litre of petrol will increase nationwide after private traders begin importing it in the month of March, according to data.

The head of the Oil Dealers Association in Northern Nigeria, Bashir Dan-Mallam, confirmed this matter to the BBC and stated that the government must take proper action to stop this from happening.

According to Dan-Mallam, the availability of sufficient money for dealers will stop the price of a litre of fuel from rising.

The National Petroleum Corporation (NNPC) has stated that it will provide 30% of the petroleum the nation needs, with merchants providing the remaining 70%.

The withdrawal of fuel subsidies was announced by Nigeria's president, Bola Tinubu, on May 29, 2023. As a result, the cost of a litre of fuel increased throughout the nation.

Because of this, IPMAN wants to raise the price of petrol in Nigeria.

What is a fuel subsidy, and why is its elimination a concern for Nigerians?

I'll stop providing fuel subsidies if Nigerians don't protest. the Tinubu