NIGERIANS have been told to get ready to pay N1,000 for a litre of kerosene in the coming days.
National Operations Controller of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mike Osatuyi, dropped the bombshell during an interview in Abuja, yesterday.
Blaming what he described as federal government’s ‘doublespeak’ for the imminent hike in kerosene price, Osatuyi explained that marketers have no choice to adjust their rates since only market forces will determine price if government goes ahead with its plan for total deregulation of energy sector.
“It’s a deregulated market. It is also a function of the dollar to naira rate and the crude price in the international market. Since cooking kerosene is deregulated, prices can go up, but do not expect it to come down. All this is coming from federal government’s doublespeak on the matter, because they will say subsidy today and tomorrow it will be deregulation. Therefore, marketers have no choice that sell at rates commensurate with cost,” Osatuyi said.
But many people are already lamenting continuous increase in price of cooking kerosene which currently sells for over N800 per litre in many cities across the nation.
For instance, while a recent survey shows the product now sells at between N800 and N850 in urban parts of Lagos State, residents of Awka and environs say they buy kerosene at N900 in shops and N820 in filling stations.