SAN FRANCISCO, January 04, (THEWILL) –Â Oil marketers have agreed with the Federal Government to allow the pump price of petrol remain at N145 per litre, reversing their previous stance on the pricing of the commodity.
The decision was reached at the meeting of the ad hoc committee, set up by the Presidency to get the oil marketers to restart the importation of refined petroleum products, chaired by the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu.
THEWILL recalls that the Chairman, Depot and Petroleum Products Marketers Association (DAPPMA), Dapo Abiodun, had stated that the marketers could no longer import petrol at a controlled price of N145 per litre.
Following the decision meeting, the marketers, however, appealed to the Federal Government to grant them tax holidays and other incentives that would help cut their costs when they resumed fuel importation.
It was also decided that the Nigeria National Petroleum Corporation (NNPC) will sell petroleum products directly to marketers thereby eliminating the middlemen in the chain in one of the moves to combat fuel scarcity.
Also, four sub-committees were constituted at the meeting, including those on logistics and business conduct, with heads of some parastatals under the Federal Ministry of Petroleum Resources as members of some of the committees.
