By Ime Silas, Uyo

About 48 hours after the federal government of Nigeria led by His Excellency, President Muhammadu Buhari, announced the reduction of pump price for the Premium Motor Spirit (PMS), popularly known as petrol, from N145 to N125 per litre, marketers of the product in Akwa Ibom state still sell at old cost of N145.

It would be recalled that on 18th March, 2020, the NNPC had announced the fuel price reduction across the country which followed the fallen price of crude oil in international market.

The continuous fall in crude oil price is as a result of the effects of the dreaded novel Corona Virus codenamed, Covid-19.

Announcing the reduction on behalf government, the Nigerian National Petroleum Corporation (NNPC), had stated in a release by Mele K. Kyari, Group Managing Director, thus, “in compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.

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Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre.

These reductions will therefore translate to N125/litre retail pump price.

Despite the obvious cost implication of this immediate adjustment to the Corporation, NNPC is delighted to effect this massive reduction of N20/litre for the benefit of all Nigerians…”

About 48 hours after the announcement, filling stations in Uyo still dispense fuel at N145 per litre.

All the Petrol stations visited as at 4pm, Friday, had yet to adhere to the federal government directive on the new price regime.

Upon enquiries, the Pump Attendants said they have yet to receive such reduction instructions from their directors.

Fuel dispensing meter
President Buhari