The Major Oil Marketers Association of Nigeria (MOMAN) has predicted that pump price of Premium Motor Spirit (PMS), otherwise called petrol, will drop very soon.
The Executive Secretary of the association, Obafemi Olawore made this known on Tuesday while addressing newsmen in Lagos.
“I’m assuring Nigerians that pump price of petrol will soon drop as against claims that it will rise above the present band,” he said.
“Price won’t go up as long as the Nigerian National Petroleum Corporation (NNPC) is bringing in products.
“Although, we are expected to source for dollars at the parallel market but the good news is that we are getting dollars from our upstream divisions.
“Shell supports Conoil, Agip to support Oando, ExxonMobil supports Mobil Oil Nigeria, Total supports Total Nigeria, MRS and Forte get support from NNPC.
“The solution to fuel scarcity is full deregulation.
“If there is no policy reversal, marketers will bring in products.
“The situation will encourage us to bring in more investment. We have invested in meters presently to ensure adequate metering.
“Others are doing their calculations in how to bring in investment in refineries and once we begin to refine domestically, it means we have attained full deregulation,” he said.
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