x

Pump price reduction excites motorists in Kano

Motorists in Kano metropolis have expressed joy over the downward review of petrol pump prices by the Federal Government.

Daybreak reports that the Federal Government had on Wednesday announced new price regime of N125 per liter of Petroleum Motor Spirit (PMS) as against its previous prices of N145.

The development came against the backdrop of oil price crash at the global market occasioned by the Coronavirus crisis.

A cross section of the motorists, who spoke to Daybreak  in separate interviews on Friday in Kano, described the gesture as “commendable”.

Abdulkarim Sarki, a commercial tricycle operator, expressed happiness over the development, saying it would enable him to cut his spending on fuel.

“I bought fuel in the afternoon and saved about N700 as against what I used to spend before the introduction of the new price,” he said.

Kamalu Abubakar, a resident, also commended fuel dispensing stations for prompt compliance with the new N125 pump price.

“I am happy that the fuel stations had complied and adjusted their pumps to the new price.

“It is a welcome development even though it came at a time of international health crisis,” Abubakar said.

Another resident, Mustapha Bello, called on the authorities to ensure compliance with the new price and ensuring effective monitoring to guard against short changing consumers by fuel stations.

Daybreak recalls that the Independent Petroleum Marketers Association of Nigeria (IPMAN) said its members had complied with the new price regime in the state.

Bashir Danmallam, IPMAN Chairman, however, advocated for palliative measures to compensate marketers who might have incurred losses due to the sudden reduction in the pump prices.

He stressed that the measure was necessary to support fuel marketers who had old stock of the products before the reduction of the pump price.

“We are happy with the development and the Federal Government should be commended for the gesture. However, government should consider the fact that many of our members with old stock will be exposed to losses.

“The measures would go a long way in reducing the loss the marketers might incur, since most of them have the old stock, which are supposed to be disposed off at the old rate of N145 per litre,’’ he said.

Hot this week

Don wants collective efforts to tackle Nigeria’s woes, awards scholarships

By Ogenyi Ogenyi,Uyo A retired Professor of Ethnocommunicology, Desmond Wilson,...

Group  empowers community in Akwa Ibom in solidarity with APC National Chairman Prof Nentawe 

By Israel Adamu, Jos  The Albert Initiative for Development (AID)...

Gov. Ododo committed to improving road networks in Kogi – Commissioner

By Noah Ocheni, Lokoja The Kogi state Commissioner for Works,...

Research Commercialization Key to Nigeria’s Economic Growth- NASENI

Executive Vice Chairman and Chief Executive Officer, National Agency...

Tinubu’s Renewed Hope Agenda Anchored on Infrastructure, Says Minister Goronyo

By Jabiru Hassan The Minister of State for Works, Barrister...

My China Story: A Journey Through Beijing, Wuxi, and Qingdao

By Michael Onjewu, Abuja When I boarded my flight to...

10 Key Takeaways from Tinubu’s 65th Independence Day Broadcast

President Bola Ahmed Tinubu, in his Independence Day address...

UK-Based Governance Report Lists Zamfara, Kwara, Benue Among Nigeria’s Poorest Managed States

A new governance performance review has ranked Zamfara, Kwara,...

FG Cancels Independence Parade, Retains Other Anniversary Events

By Francis Wilfred ABUJA, Nigeria – The Federal Government has...

Nigeria @ 65: Sen. Akume Urges Shared Responsibility for Nation-Building

By Francis Wilfred ABUJA, Nigeria – As Nigeria prepares to...

Related Articles

Popular Categories

spot_imgspot_img