NAN- The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday lauded the Federal Government’s reduction of the pump price of petrol from N97 to N87 per litre.
The National President of IPMAN, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) in Lagos that the reduction would go a long way in cushioning the economic challenges faced by Nigerians.
“It was a right decision taken by the Federal Government.
‘It is a fruitful decision, it will go a long way in addressing the agitation of the people but there should be a holistic approach towards passing the Petroleum Industry Bill (PIB).
“Federal Government has been steering the oil and gas industry in the right direction.
“This has shown that government has great concern about the people,’’ he said.
Mr Seyi Ganbo, a former National Public Relations Officer, Petroleum, Natural Gas Senior Staff Association of Nigeria (PENGASSAN), described the reduction as “a two edged sword.”
He said the pump price reduction was in tandem with the public outcry following the persistent fall of crude oil price in international market and the attendant low-landing price of refined petroleum products.
It will be recalled that the reduction is coming after immense pressure on the Federal Government by the opposition party and other commentators to reduce the pump price of petrol.
NAN recalls that the Minister of Petroleum, Mrs Diezani Allison, late on Sunday night announced the reduction in line with the prevailing attitude of most OPEC countries and the U.S.
Allison also said that the price change was with immediate effect.
