The Petroleum and Natural Gas Senior Staff Association of Nigeria, on Monday, raised the alarm that their findings showed that the price of Premium Motor Spirit, popularly called petrol, had risen to as high as N650/litre in some locations.
“While we understand that the parameters imputed into the old PPPRA and now NMDPRA template has since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of diesel, among others, there is no sufficient justification for petrol to be selling for such highly inflated price, thereby subjecting the masses to further difficulties,” the association stated in a statement jointly signed by its President, Festus Osifo, and Secretary, Lumumba Okugbawa.
The union stated that from data available to PENGASSAN from its members, there was over 30 days PMS sufficiency across the country, hence there was no basis for the current scarcity and hardship that Nigerians were being subjected to. “They should immediately mobilise all their staff in various locations across the country to monitor compliance and anyone found wanting, should have their licence revoked to serve as deterrent,” the association stated.
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