MON. 23 JANUARY, 2023-theGBJournal| Petrol marketers said Sunday that the cost of the petrol could cross N800 per litre once subsidy on petrol (PMS) is removed.
Mohammed Shuaibu, the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, speaking on subsidy removal argued that it should be unthinkable to remove subsidy on petrol products when the product is unavailable.
”If the government fails to take the appropriate measures, and they say they want to remove fuel subsidy, the situation will be worse than this, the masses will suffer”
In response to the bleak price projection, the marketers urged the Federal Government to ensure that all the necessary measures and infrastructure to ensure a less stressful subsidy removal regime were put in place before implementing the decision.
The Federal Government said emphatically recently that subsidy on the product will go. The Minister of Finance, Budget and National Planning, Zainab Ahmed empasised that the removal will be gradual while stressing that the budgetary allocation for subsidy would end in June this year.
Meanwhile, motorists and users of the product in the country continue to queue endless hours in search of the product. The product, where seen sells for between N260 and N300 per litre and in the Northern parts of the country for as high as N500 per litre.
Both the marketers and federal government has been trading words on the removal and the reasons for the scarcity despite the state oil company, the NNPC Limited publishing reports on the product availability regularly.
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