President Bola Tinubu has been urged to declare a state of emergence on the nation’s refineries.
Chairman, Independent Petroleum Marketers Association of Nigeria, IPMAN,
Dr Joseph Obele, in Rivers State, made the call in response to an increase in the price of Premium Motor Spirit, or PMS, popularly known as fuel, at the pump.
This in response to Tuesday increase in the price of petrol at the pump, reaching N612 a litre.
Obele, however, said that the ex-depot price went from N487.7 per litre to N567.7 per litre.
A statement by Obele 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 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.
“Our solution is fixing Nigeria’s refineries. Mr President should declare a state of emergency on Nigeria refineries.”