*As fuel price hits N620/litre in Port Harcourt
Okafor Ofiebor – Port Harcourt
As the pump price of Premium Motor Spirit, PMS commonly known as petrol hits N620 per litre in some Petrol Stations in Port Harcourt, following the increment in ex-depot price by NNPC Ltd. on Tuesday.The Independent Petroleum Marketers Association of Nigeria, IPMAN has called on the Federal Government to declare state of emergency in the four refineries.
IPMAN Chairman in Rivers State, Dr Joseph Obele, disclosed that NNPCL being the sole importer of fuel in country, has increased the ex depot price from N487.7 per litre to N567.7 per litre.
Obele lamented that the increment in fuel price would quadrupled the sufferings of the masses, and urged President Bola Ahmed Tinubu to declare a state of emergency on the nation’s four refineries.
He said, “It is true, that on Tuesday 18th July. We saw a new buying rate on the NNPC Portal. The previous buying rate was N487.7 per litre. The new buying rate going forward is N567.7 per litre.
“The new selling rate from ranges from N600, N610, N620 and above.
“It is going to bring hardship to the citizens and marketers will need to source for additional trading capital in order to remain in the business.
“The Nigerian economy is in a fix and the inflation index will further rise.
“Our solution is fixing Nigeria refineries. Mr President should declare state of emergency on Nigeria refineries.”,IPMAN Chairman