Marketers reject FG’s plan to cap petrol price

Marketers reject FG’s plan to cap petrol price

Petroleum marketers have rejected the Federal Government's plan to cap petrol prices at N1,350, insisting market forces should determine prices.

N1,350/Litre: Marketers announce new position on FG’s petrol price control as rates soar

MEMAN rejects the ₦1,350 petrol price ceiling, warning it could disrupt competition. Marketers say logistics and domestic refining are key to stable supply.

MEMAN Says Petrol Price Cap Inimical To Market Development

  Uche Cecil Izuora The Executive Secretary and Chief Executive Officer of the Major Energy Marketers Association of Nigeria (MEMAM) Mr. Clement Isong, says petroleum price capping comes with market distortions and lacks in competitiveness among operators. Though the MEMAN commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for its push in promoting [...]

Marketers Oppose FG's Move to Cap Petrol Price - Economi Confidential

Marketers Oppose FG’s Move to Cap Petrol Price   Petroleum marketers have rejected government-imposed N1,350 price caps on petrol, insisting that market forces, competition and improved distribution efficiency should determine prices in Nigeria’s deregulated downstream sector. The Major Energies Marketers Association of Nigeria (MEMAN) said arbitrary price caps would not address the underlying challenges in […]

Marketers reject govt plan to cap petrol price

Petroleum marketers have rejected government-imposed N1,350 price caps on petrol, insisting that market forces, competition and improved distribution efficiency should determine prices in Nigeria’s deregulated downstream sector. The Major Energies Marketers Association of Nigeria (MEMAN) said arbitrary price caps would not address the underlying challenges in the petroleum market, advocating transparent pricing mechanisms and measures […] The po…