Petrol fit sell at N750 per liter if FG remove subsidy — Stakeholders warn
Stakeholders for di Nigerian oil and gas industry don give warning say make consumers ready to pay N750 per litre for petrol as di Federal Government dey prepare to fully remove subsidy for di coming months.
Dis information about Stakeholders warning on petrol come out after an online workshop with di theme “Deregulation of the Nigerian Downstream Sector: The Day After”. Di participants include representatives from various industry bodies such as ARDA, NMDPRA, MOMAN, DAPPMAN, IPMAN, NRL, PETROAN, FCCPC, PwC, and CITAC Africa.
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During di workshop, stakeholders stress di importance of di government addressing di challenges wey di sector dey face, while dem express dia full support for di planned full deregulation.
Di National President of IPMAN, Mr. Chinedu Okoronkwo, warn say di projected pump price of petrol fit rise to N750 after di full implementation of subsidy removal, but e fit drop to around N500 if di government provide foreign exchange for marketers for di official rate.
Also, Okoronkwo advise di government make dem allocate expected savings from subsidy removal to di provision of palliatives for di masses and to dey aware of public backlash.
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