NUPENG, PENGASSAN decry petrol price hike


Nigeria Union of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday voiced their opposition to the deregulation of the downstream petroleum sector when the country is still relying on imports for refined products.

More marketers of the Premium Motor Spirit (petrol) have raised the pump price of petrol.

The Petroleum Products Pricing Regulatory Agency,(PPPRA), is yet to issue its guiding retail petrol price for the month of August, leaving operators confused.

The PPPRA has also said it will advise the Nigerian National Petroleum Corporation, (NNPC), and other oil marketing companies on the monthly guiding retail price at which the product shall be sold across the country as there has been a sharp drop in crude oil prices which led to the reduction in the pump price of petrol in March.

The agency announced in July, a new price band of N140.80 to N143.80 per litre, up from N121.50 to N123.50 per litre in June.

Although the PPPRA released the ex-depot price for the commodity on Tuesday, it has since then remained silent as regards the retail price for the month.

The Chairman, Major Oil Marketers Association of Nigeria, and Managing Director/Chief Executive Officer, 11 Plc, Tunji Oyebanji, confirmed that some members of the association had increased petrol price to N148 per litre.

He further said marketers had interpreted PPPRA’s silence to mean that they should fix the price themselves.


Uchechi Ojo
Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn
Mike Ojo

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