Petrol Marketers Reveals Shocking Revelation On Petrol Price: Fuel Drops to N200/litre With Refinery Revival

 

In a surprising turn of events, Joseph Obele, the Chairman of the Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter, has unveiled a game-changing solution to the ongoing petrol price woes in Nigeria. Obele's statement, released on Friday, highlights the potential for the price of Premium Motor Spirit (petrol) to plummet to just N200 per litre if the country's ailing refineries are revitalized.

This revelation comes in the wake of the soaring fuel prices that followed the removal of fuel subsidies in June, sending shockwaves across the nation. President Bola Ahmed Tinubu's administration had previously pledged to resurrect the Port Harcourt refinery, aiming to kickstart production by December 2023. Minister of State for Petroleum Resources, Heineken Lokpobiri, recently reaffirmed the government's commitment during his visit to the Port Harcourt refinery. CONTINUE READING........

For Joseph Obele, the solution to Nigeria's economic challenges arising from fuel subsidy removal lies in the revival of the country's local refineries. He passionately urged the federal government to translate its promises into concrete actions in order to breathe life back into the Port Harcourt refinery.

Obele emphasized, "Until our nation-owned refineries are functional, fuel prices will keep increasing due to international variables. But when our refineries are functional, Nigerians will buy fuel for less than N200 per litre."

It's worth recalling that after the removal of fuel subsidies, the price of fuel skyrocketed to over N600 per litre nationwide, burdening the citizens and sparking widespread concerns about the cost of CONTINUE READING.......

The revelation from Joseph Obele serves as a glimmer of hope for Nigerians who have been grappling with the relentless rise in fuel prices. With the potential for petrol to become more affordable with refinery revival, the government's actions in this regard will undoubtedly be closely monitored, as the nation awaits a more sustainable solution to its fuel price challenges.

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