N125 Per Litre : Filling Stations in Kogi State Disobey Federal Govt Directives

Motorists in Lokoja, the Kogi State capital, were on Thursday, startled as most of petrol stations in the metropolis failed to comply with the Federal Government directive on downward review of fuel pump price from N145 per to N125.

President Muhammadu Buhari had on Wednesday approved a reduction in the price of Premium Motor Spirit (PMS), otherwise called petrol, starting Thursday, in the wake of falling crude oil price on the international market.

The Federal Government also directed the Nigerian National Petroleum Corporation (NNPC) to reduce the ex-coastal and ex-depot price of fuel to reflect current market realities.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, in a statement, on Wednesday, said that the PPPRA would embark on monthly guide to NNPC and marketers on pricing, in line with prevailing oil market price.

However, fourty eight hours after the directive was issued, most marketers in the capital were yet to reflect the new pump price.

While few stations, including the mega NNPC filling station along Felele, complied with the directive, others including Rain Oil, by NTA roundabout, Total and Oando, both located along the Murtala Mohammed way, sold at the old retail pump price of N145 per litre.

Some of the station managers told The Nation that their engineers were yet to adjust the metres and were being awaited, while other independent retail outlets said that the directive was too sudden, as they still have the old stock of N145 and as such could not sell at N125, which would result in huge loss on their part.

At HABSO filing station, consumers bought at N145 per litre as at Friday (today) afternoon.

A dealer in the state who pleaded anonymity said that they could not sell at the new price since they bought at higher depot price.

He said selling at the new price will affect them since the product they have were purchased at the old depot rate.

According to him: “We cannot sell at N125 per liter now, because what we have is old stock. We did not buy at that amount. There will be great loss for us if we sell what we bought at the old depot rate. We are not saying that we are not going to sell at N125, but that will have to be after selling our current stock.”

A tricycle operator who spoke with The Nation however applauded the Federal Government for the reduction of fuel pumop price, adding that it will reduce the cost of goods and services.

The operator who gave his name as Baba, however said government should not stop at approving the reduction alone, but should also enforce the new price.

He said: ‘’I like the reduction. But, it does not end there. As you can see, no filling station is selling at N125 per litre now, here in Lokoja. And they will not do so until they are forced to. So, government has to force them to sell at the new price of N125 per litre, if not, it will just be on paper and on radio without people enjoying it.’’

Credit : The Nation