As Nigerians across the nation lament the hike in fuel price, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged President Bola Tinubu to declare a state emergency on Nigeria’s four refineries.
INFORMATION NIGERIA reports that the IPMAN’s Chairman in Rivers State, Dr Joseph Obele led this out while addressing journalists yesterday.
However, Obele decried that the increment in fuel price would quadruple the sufferings of the masses, and urged President Tinubu to declare a state of emergency on the nation’s four refineries.
He 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.
READ MORE: Fuel Hike: “Pray Against Further Price Increment” – IPMAN Tells Nigerians
“The new selling rate from 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.
“The Nigerian economy is in a fix and the inflation index will further rise.
“Our solution is fixing Nigeria refineries. Mr President should declare state of emergency on Nigeria refineries.” IPMAN Chairman said.
