It was a jubilation galore for Nigerians as the federal government of Nigeria directed depot operators to sell premium motor spirit (PMS) also known as petrol at the official price of N172 per litre to independent markets.
This follows the supply of over 150 million litres of petrol to the Ijegun tank farm in Lagos State, which accounts for up to 35 per cent of national consumption volume, making it critical in ending the distribution crisis.
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Officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) gave this directive while speaking on Channels Tv while on a site inspection to the Ijegun Tank farm on Friday.
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NMDPRA also assured that independent fuel marketers under the aegis of Independent Petrol Marketers Association of Nigeria (IPMAN) will now get petrol at the ex-depot price of N172 per litre like their major marketers’ counterparts.
This will enable them sell petrol at N184 per litre in the West and South or N194 in the Northern parts of the country as approved by the regulator.
