Petrol Retailers Begin Implementation Of New Pump Price, ’Morrow  

More than one week after the Federal Government announced a reduction of pump price of petrol from N168.00 to N163.00, filling stations in Rivers State are yet to comply with the directives.
Petrol filling station owners in Rivers State under the  aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have, however, announced Monday (tomorrow) as the take-off of the new pump price regime.
They said they they were ready to comply with the new pump price of petrol announced by the Federal Government from tomorrow.
The Chairman of PETROAN, Rivers State, Dr. Francis Chile-Dimkpa, stated this in an interview with newsmen in Port Harcourt, recently.
It would be recalled that the Federal Government, last week, announced a reduction in pump price of petrol from N168.00 to N163.00 following a negotiation between it and the organised labour.
Chile-Dimkpa, while expressing joy with the price reduction, charged members of the association to revert to the new pump price with effect from tomorrow.
According to him, “we welcome the reduction in price following the agreement between the Federal Government and organised labour and we are looking forward to its implementation from Monday,14th of December 2020. So, by this, we urge all members of Petroleum Products Retail Outlets Owners Association of Nigeria to key into the government and labour agreements of reduction in price come 14th of December 2020 and effect the reduction as expected”.
The chairman also demanded for a reduction of the Ex-Depot price at refinery and tank farms.
He said, “our hope is that the implementation will start from the Ex-Depot price because we know by the reduction of price to the extent of N5.00, the Ex-Depot price should also be reflected and so if it is done, we have no reason why we will not reduce the pump price hoping that the ex-depot price will be published before then”.
Meanwhile, some commercial drivers and motorists who spoke to The Tide, expressed disappointment that a country, which produces oil pay as much as N168 per a litre of petrol.
A Port Harcourt based economic analyst, Mr. Solomon Aka, said he could not understand why Nigeria would fix her domestic oil prices based on global standards “especially those who are doing much better than us economically”.

By: Tonye Nria-Dappa