Independent Petroleum Marketers Association of Nigeria has blamed the failure of the government to fix the nation’s refineries on some cabals owning international refineries…..CONTINUE READING...CONTINUE READING
IPMAN Rivers State Chairman, Dr Joseph Obele, disclosed this to our Correspondent, who said the effect of globalisation on a local economy could be minimised where crude production is done locally.
Obele maintained that the government has refused to address the root cause of the continuous rise in Crude oil increment by fixing Nigeria’s refineries, noting no palliative is better than fixing the nation’s refineries.
“OPEC has projected that the recent aggression of Russia war in Ukraine will cut production of member nations and push the price of Crude oil higher.
“Price of PMS in Nigeria saw a sudden rise above #500 per litre on 29th May when Mr President announced subsidy removal. A few days later, crude oil was increased in the international market by $5; the Nigeria PMS price also increased above #600 per litre.
“Daily Crude Oil Price for three days
20th July, it was $81.4.
21st July, it was $84.5.
24th July was $85.6.
“On Monday, 24th July 2023, there was a significant increment to the price of Crude oil in the international market to $85.8 per barrel, and the indicators for further rapid increase are imminent.
“Arising from the recent Crude oil increment. NNPC, on Thursday, 27th July 2023, increased the price of AGO from #540 litre to #620. As we speak, they are reviewing the cost of PMS following the new rate in the international market. I can tell you that the PMS price will increase in the next few days.
“I firmly believe that Nigerian cabals own the international refineries supplying us; hence they have refused to fix Nigeria refineries.
“When you fix the Refineries, our Youths will be employed; the economy will experience a boom, and prices of commodities in the market will not be high as it is today. PMS will not sell above #200 when we are refining locally.
“The circumstance demands urgent remedy actions by Mr President, yet Mr President is saying we should give him some time to do what? When people are suffering seriously, did he give us some time when he removed the fuel subsidy without consultations?
“Mr President should declare a state of emergency on Nigeria refineries and give a Marching order that Nigeria-owned refineries should be fixed within a short time frame. By that, the suffering of the citizens will be minimised”.
Speaking on the proposed Nigerian Labour Congress (NLC) suggested nation wide protest, Dr Obele said it will not hold water as Labour Union have betrayed the trust of the masses.
“The threat of NLC will not hold water because they are toothless bulldogs; they are selfish individuals. They have allowed their interest to cause untold hardship to the citizens of Nigeria.
“Nigerians do not trust them anymore; Nigerians are suffering, people are hungry, people are in pain…..CONTINUE READING
