Marketers accuse FG of encouraging market ‘monopoly’:


Private and independent oil marketers have accused the Petroleum Products Pricing Regulatory Agency, PPPRA, of encouraging a monopolistic system in the downstream petroleum sector run by the Nigerian National Petroleum Corporation, NNPC, and major marketers. The accusation followed the PPPRA’s introduction from January 1st of a new pricing template of N86.50/litre for premium motor spirit, PMS, also called petrol, as well as what they described as the lopsided import licence award, which favoured more the NNPC and the majors.
According to the independent marketers, current downstream operation, especially as regards refined petroleum products is fraught with a lot of irregularities tending toward monopoly.Among the contentious issues in the new PPPRA pricing template include: PMS sales losses, NNPC’s monopoly of the household kerosene, HHK market, and higher than stipulated ex-depot price of automotive gas oil, AGO also called diesel at Pipelines and Products Marketing Company, PPMC, a subsidiary of NNPC.

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