The National Public Relations Officer of Petroleum Retail Outlet Owners Association of Nigeria, PETROAN, Dr. Joseph Obele, has described the gradual increment in the cost of Petroleum products as worrisome and disturbing.
Reacting to the increase in the pump price of Petroleum Products, Dr. Obele, while noting that the Federal Government’s Crude for Naira Policy was an effective policy that ought to shield Nigerians from International Oil Price fluctuations, questioned the rationale behind the rising cost of Petroleum Products sold in Naira.
”The worry of Stakeholders is that few months ago, The Federal Government of Nigeria under President Bola Tinubu signed a policy of Naira for Crude and it is running till this hour, the Federal Government is consistent and intentional about delivering crude oil at the rate of Naira to the Refineries in Nigeria so why the quick adjustment of Refinery selling rate at the gantry to marketers?”
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The PETROAN National Public Relations Officer frowned at the antics of some Nigerian Commodity producers who compare prices of goods sold in the country with what is obtainable in International markets when the raw materials for such goods are sourced from Nigeria and paid with Naira, calling for producers to place patriotism above high profit margins.
Dr. Obele added that the continued hostility between the United States of America, Israel and Iran points to continued fluctuations in the prices of Petroleum products across the country
