Oil Marketers have countered the Nigerian National Petroleum Corporation Limited's stance on Premium Motor Spirit, known as Fuel subsidy. The oil marketers insisted that without petrol subsidy, the product would have been sold at N800/per litre not the N580/litre and N617/litre current pump price. The National Secretary, Independent Petroleum Marketers Association of Nigeria, Chief John
Kekeocha disclosed this on Tuesday. Recall that on Monday, the Group Chief Executive Officer, Nigerian National Petroleum Corporation Limited, Mele Kyari, denied the reintroduction of petrol subsidy and claimed that the pockets of queues by motorists observed in petrol stations across the country stemmed from hiccups in products’ distribution from the South to the North and not a lack of supply. But, Kekeocha insisted that the government is not telling Nigerians the true situation of things.
' On claims by NNPCL that it had enough product, the IPMAN secretary said this was not entirely correct. “The situation in the downstream oil sector is very painful. How can Kyari go to the open and be telling people that he is not subsidising the product? He also said they have billions of litres of fuel and that nothing is going to happen, let him come out and watch what is happening in town right now.
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