“Further investigation into the allegation also revealed that the oil marketers had continued to obtain petroleum products from the government without proper payment, in violation of the NNPC/PPMC credit facility regulations.”
Browsing: Major Oil Marketers Association of Nigeria
The study showed that NNPC Mega Stations and its affiliates across the country sold the product for N160 per litre while many major and independent marketers in Abuja, Lagos, Kaduna, Onitsha, Enugu, Makurdi and most major cities were selling between N160 and N165 per litre. In Port Harcourt the average price is as low as N150 per litre.
In the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.
There had been apprehension that the federal government was planning to increase the pump price of petrol after marketers complained that the landing cost of the refined products could no longer be sustained the price of N145 per litre.
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