Filling stations throughout Lagos State have began effecting the brand new N125 per litre pump worth regime for Premium Motor Spirit (PMS) which was accredited by President Muhammadu Buhari on March 18.
A News Agency of Nigeria (NAN) correspondent who monitored the state of affairs on Friday morning at Ikeja, Fadeyi, Abule Egba, Onipan, Surulere, Ebute Metta and Yaba areas noticed that some main oil entrepreneurs had been promoting on the new worth.
Also, all Nigerian National Petroleum Corporation (NNPC) shops visited had adjusted their meters from N143 to N125 in step with the directive given by the administration.
However, some unbiased entrepreneurs had been nonetheless meting out at N145, notably these situated within the outskirts of the state.
Mr Chinedu Okoronkwo, President, Independent Petroleum Marketers Association of Nigeria (IPMAN), informed NAN that every one the filling stations would undertake the brand new worth in the end.
“This is going to come naturally because they cannot afford to lose their customers if they continue to sell at N145.
“Some of the marketers just took product before the reduction so it came as a shock, but hopefully, we will find a way to deal with the situation, ” he stated.
A motorist, Mr Wale Adebiyi, informed NAN that motorists would reasonably search for the stations that had adopted the brand new worth to gasoline their autos than purchase at N145.
“There is no scarcity of fuel, so I can drive and look for where I can get it for N125.
” I commend the federal government for the discount as a result of it is going to scale back the quantity I spend on gasoline, ” he stated.
NAN reviews that Mr Mele Kyari, Group Managing Director, NNPC, had in an announcement on Wednesday stated the brand new worth of PMS would start from March 19.
“In compliance with the directives of the Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump costs accordingly.
“Effective March 19, NNPC Ex-Coastal worth for PMS has been reviewed downwards from N117.6/litre to N99.44/litre whereas Ex-Depot worth is diminished from N133.28/litre to N113.28/litre.
“These reductions will, therefore, translate to N125/litre retail pump price,” he stated.