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A pump attendant dispensing petrol. PHOTO: FEMI ADEBESIN-KUTI
A Former President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has faulted the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) for announcing an increase in the pump price of gasoline.
Mr Peter Esele told a correspondent of the News Agency of Nigeria (NAN) in Benin on Saturday that PETROAN had no right to increase petrol pump price unilaterally.
On Feb. 8, the President of PETROAN, Dr Billy Gillis-Harry announced an increase in the retail price of fuel from N160 to N178 per litre. x
Findings by NAN correspondent showed that although filling stations in Benin had adjusted their prices upwards, none is selling for as high as N178 as announced by Billy Gillis.
A former Trade Union Congress president, Peter Esele, said the recent announcement of increment in fuel pump price by Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) showed that the federal government is still subsidising petrol.
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Identify cause of high production cost, PENGASSAN tells FG
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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASAN) has urged the Federal Government to identify the real cause of the high cost of crude oil production in the country.
PENGASAN President, Mr Festus Osifo, made the appeal at the inauguration of the Nigerian Upstream Cost Optimisation Programme (NUCOP), in Abuja, on Tuesday.
Osifo said that the drive to reduce the cost of crude oil production was a good initiative which the association had championed over the years.
He said that many International Oil Companies like Exxonmobil, Chevron, Total had in the past set up cost-effective initiatives team to look at the high cost of production.