Marketers seek n165 petrol price fg says no

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Marketers in Nigeria have been seeking a review of the current petrol price of N165 per liter, citing rising costs and the need for a more competitive market. However, the Federal Government (FG) has reportedly rejected their request, stating that the current price is still within the acceptable range.

The marketers, who are members of the Major Oil Marketers Association of Nigeria (MOMAN), had requested a review of the price to reflect the current economic realities and to ensure that they can operate profitably. They argued that the current price of N165 per liter is not sustainable, given the rising costs of operations, transportation, and other expenses.

However, the FG has maintained that the current price is still within the acceptable range and that any further increase would be detrimental to the economy. The government has also emphasized the need to maintain a stable and competitive market, which it believes would be disrupted by a price increase.

It's worth noting that the FG has been implementing various measures to reduce the cost of petroleum products and make them more accessible to Nigerians. These measures include the establishment of new refineries, the rehabilitation of existing ones, and the introduction of new policies to promote the use of alternative fuels.

Overall, the disagreement between the marketers and the FG highlights the ongoing challenges facing the Nigerian petroleum industry, including the need to balance the interests of different stakeholders and ensure a sustainable and competitive market.