‘Fuel price go increase by July’ -IPMAN

Prices of Premium Motor Spirit (PMS) wey pipo sabi as petrol or fuel go increase from July, 2023.

Reports say na because di old stock wey di Nigeria National Petroleum Company Limited (NNPCL) bin import don finish and dem go begin import petrol for new price wen dem go market.

National Controller Operations, Independent Petroleum Marketers Association of Nigeria (IPMAN) Mike Osatuyi tell BBC Pidgin say make Nigerians prepare for di new prices wey go reach N700 naira per litre.

“So far so good, no new fuel import for di kontri, wetin pipo dey sell now, na di old stock and very soon di old stock wey dem buy for old price go finish.

Oga Osatuyi explain more about di new prices wia im explain say di single foreign exchange rate follow affect di prices.

“Di price of forex wey goment don bring down to single rate of N770 Nigerian naira, so evribody now go get foreign exchange at a price of N770 or upward as di case fit be.”

“Even NNPCL go buy forex for N770, me and you go still buy forex for N770 depending on di day you go buy.”

Im add say as swap and PES no dey again e further make tins difficult.

“Before new goods go come na around 3rd week of July, dis na for pipo wey even get money to import.

Na around dat period we go see di full deregulation.

Na dat time we go see and know di exact price, di price we dey see now, wey dey between N500 to N550 na ‘transitional price” for di old stock

Im say di highest price wey dem go sell na N700 per litre for any part of di kontri.

“Lagos fit be around N610 naira per litre but for Maiduguri, Borno and oda far states e go be 700 naira”

Dis no be speculation na wetin go happun for sure and e don come to stay.”