Fuel Hike: Marketers Forecast N700/litre In Coming Days
Oil marketers have warned Nigerians to prepare to buy petrol for as much as N700/litre in the coming days. This development follows the sudden petrol hike from N540 to N617 per litre on Tuesday by the Nigerian National Petroleum Company (NNPC) Limited. The NNPCL Group Chief Executive Officer, Mele Kyari, on Tuesday, attributed the recent rise in petrol pump price from N540 to N617 per litre to market forces. Kyari offered this explanation Tuesday following a meeting with Vice President Kashim Shettima at the Aso Villa. Against this backdrop, oil marketers have forecasted that petrol might sell as high as N700/litre once fresh products being imported by independent firms start arriving in Nigeria, Naija News gathered. According to the National Controller, Operations, Independent Marketers Association of Nigeria, Mike Osatuyi, Lagos residents should prepare to buy petrol for as high as N600/N620/litre. At the same time, those living up North could pay as high as N700/litre. Osatuyi told ...