The Nigerian National Petroleum Corporation (NNPC) and oil marketing companies have ignored the directive issued by Government on the implementation of a new pump and ex-depot prices of petrol, which was to take effect on January 1, 2016.
The government had approved two pump prices – one for the retail outlets of the NNPC, which would sell at N86 per litre, and another for the retail outlets operated by the private oil trading companies, which would sell at N86.50 per litre, But the marketers have argued that all the basic assumptions, permutations and projections by the government in the new pricing model are unrealistic in view of the high cost of foreign exchange.
Omolara Adegoke- Abuja
thebreakingtimes.com
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