NewStats: 3,261,358 , 8,173,782 topics. Date: Thursday, 29 May 2025 at 12:22 AM 70444e

The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Yakubu Suleiman, has said that even with the sudden hike in the pump price of petrol in Nigeria, the country still has the cheapest price of the product among other African countries.

He stated this during a chat with ARISE TV concerning the recent hike in the price of Motor Spirit, otherwise known as petrol.

Suleiman also blamed the sudden hike in the pump price of petrol on the cost of dollars.

He explained that petroleum products are imported to Nigeria using dollars, hence the increase.

He said, “The rise in price was caused, as usual, by the market forces. Market now determines prices. And secondly because of the dollar. You know the higher the crude oil price, the product price locally will also be higher. So at the time the crude oil comes down, the product will also come down.

“To be frank, it’s just speculation that people are thinking marketers are happy with the new price. If any marketer would tell you that he’s happy with the new price, he just wants to deceive you.

“When you import petrol from abroad to Nigeria as at today, it’ll arrive in Nigeria at the the price of N565. So when you think of it, yes, marketers are trying. But I still want to reiterate to Nigerians that we need their understanding that a further rise in price is what we don’t pray for. Let’s hands together and pray so that we have a regime in which products will be cheaper than what we have now.

“And also compared to other African countries, we still have the cheapest petrol price. But we don’t pray that the price will be higher than we currently have. We don’t pray for that.”

On Tuesday, the Nigerian National Petroleum Commission Limited (NNPCL) and other oil marketers raised the price of petrol from about N537/litre to (between) N617 and N630/litre, a development that triggered widespread anger across the country.

https://dailytrust.com/nigeria-still-has-cheapest-fuel-price-in-africa-ipman/

Petrol is overrated in Nigeria. Very soon, things will settle.

All those who built petrol stations to steal subsidy money then and run black market operations during artificial fuel scarcity period are literally out of business today. The era of petrol subsidy is gone for good.

Only an ignorant and irresponsible poor man will keep subsidising petrol that the rich use to fuel their expensive cars while he treks or idles away on social media.Check my signature for free stuffs!

Eya..to defend failure no easy.

You go explain tire. Because no evidence.

Damnnn niggar
We don hear
Make una dey console una gullible followers
Wetin me know say the shege just dey start

Dr unanever C. Enitin says hi from Benin city
Barr unago C. Shege says hello from enugu

Filled up my lexus Es 350 V6 engine with almost 40k yesterday
And I was like wait o na people minimum wage I just take buy fuel so
Hahah men mount o men mount we all must chop breakfast untill we stop to dey step into the polling unit with sentiment, religion and tribalism

Nigeria Still Has Cheapest Fuel Price In Africa but Nigerians sees it as a satanic oppression against the citizens

Abi

The reason why its harmful is due to how poor the average nigerian is, the minimum wage is low, unemployment is high, so fuel end up taking a larger % of their wages.

Edit: i apologise the chart i shared is inaccurate, the actual minimum wage is N30,000(37.85 dollars), the average wage is N71,185(89.83 dollars) https://wagecentre.com/work/work-in-africa/salary-in-nigeria. Considering this, the cost of living crisis seems even worse then i thought

slawomir:
Damnnn niggar

We don hear

Make una dey console una gullible followers

Wetin me know say the shege just dey start

How much exactly did you invest in Eluup wey kupe wey you dey para like this..

I no dey give shishi effects

Even devil dey get ers...

So am not suprise if I see people ing tinubu

Maazieze:
The reason why its harmful is due to how poor the average nigerian is, the minimum wage is low, unemployment is high, so fuel end up taking a larger % of their wages

No. It's because some Nigerians were gullible enough to think petrol subsidy favours them. You are collecting N25K but your money is being used to subsidize the cars of Billionaires. It's ignorance.
If petrol subsidy had gone since, that salary would have gone up or money would have gone into infrastructure to force down high prices

If una like sell for #2000 per liter before the East and South go cry the North and West don die.

Except there is a different market for mandate thieves.




Don't waste your data mentioning me cos I don't respond to fools!
Peace!

FreeStuffsNG:
Petrol is overrated in Nigeria. Very soon, things will settle.

All those who built petrol stations to steal subsidy money then and run black market operations during artificial fuel scarcity period are literally out of business today. The era of petrol subsidy is gone for good.

How soon? Any specific time frame?
Just mere conjecture and assumptions laced with hope of things changing by luck.

Hope is not a strategy
Just like Tinubu you keep referring people to fictitious FREE STUFF

So the target is to make it highest in Africa

greatiyk4u:


How soon? Any specific time frame?
Just mere conjecture and assumptions laced with hope of things changing by luck.

Hope is not a strategy
Just like Tinubu you keep referring people to fictitious FREE STUFF

Ignorance is bliss. Go and work hard first.

The era you were born with the hope that govt will train, feed and educate you for your parents is gone. Go and create something valuable in the market place and exchange it for money. Subsidy on petrol is gone.

If crude oil price falls, petrol, like kerosene, diesel and gas, will fall. We don't give free petrol o so go and work hard and quit the social media idle banters.

No Nigerian should be subsidising petrol for same ruling class that are overpaid and privileged. Let the poor man breathe. If the huge trillions wasted on petrol subsidy benefits the poor man, it can unleash his potentials. Enough of giving privileged people like you subsidy on petrol and electricity.

Maazieze:
The reason why its harmful is due to how poor the average nigerian is, the minimum wage is low, unemployment is high, so fuel end up taking a larger % of their wages

Av monthly min wage of Nigeria isn't as reflected in this chart. It is less than 50usd and not 375usd

FreeStuffsNG:
No. It's because some Nigerians were gullible enough to think petrol subsidy favours them. You are collecting N25K but your money is being used to subsidize the cars of Billionaires. It's ignorance.
If petrol subsidy had gone since, that salary would have gone up or money would have gone into infrastructure to force down high prices

Is it not same Tinubu and his gang of thieves that kicked against during GEJ? A period that had beautiful policies that cussions the effect of subsidy removal
YOUWIN
SURE P
FG ASSISTED MASS TRANSIT BUSES
ETC,

FreeStuffsNG:
No. It's because some Nigerians were gullible enough to think petrol subsidy favours them. You are collecting N25K but your money is being used to subsidize the cars of Billionaires. It's ignorance.
If petrol subsidy had gone since, that salary would have gone up or money would have gone into infrastructure to force down high prices

2 months going yet zero increase on salary. The smell of the farts indicates the taste of the faeces

I hear petrol is now 488 in Lagos is it true. Private depot not NNPC

Stop the rants...

You didn't analyze this, when Jonathan did it. When Buhari did it 4 times (increment), nobody saw the useless development or infrastructural advancement.
Now Tinubu with his renewed shege has done the worst and you want to use foolish Propaganda to it?

When people will revolt against you, it will be like a tsunami. The resentment is building up and the avalanche of rebuke will NEVER make you take people for granted again, with your Foolish Propaganda.

FreeStuffsNG:
No. It's because some Nigerians were gullible enough to think petrol subsidy favours them. You are collecting N25K but your money is being used to subsidize the cars of Billionaires. It's ignorance.
If petrol subsidy had gone since, that salary would have gone up or money would have gone into infrastructure to force down high prices

One thing is certain, the fuel price will still go up as long as dollar keep raising

Tinubu will cause real hardship and anarchy with his egocentric tax economic reform

Actually, it is not true.

Libya, Angola and Egypt are the first, second and third cheapest in Africa.

Libya sells at the equivalent of N25 per liter. Egypt N293, Angola N286.

(Libya by the way has a population of 6.8 million and produces 1.2M barrels of crude a day. They can earn enough cash to pay for subsides and keep their refineries working. They also gat a big smuggling problem to the point that airstrikes are in use to stop smugglers of fuel

Lies used to rationalize the situation.

The most irrational decision by this government is removing subsidy without having functional refineries and increased electricity generation.

This should be basic Economics for someone who claimed studied in Chicago! Despite not doing elementary Economics, Buhari even knew this that's why he refused to totally remove subsidy in his tenure.

Which cheapest fuel in Africa when we are oil producing country. You see why APC and Thiéfnubu ers are bunch of clowns. An oil producing country still struggling to refine how crude oil!! It will never be well with our useless politicians. APC can fool people like the op, and his fellow agbado munchers. That shege banza pro max go teach una lesson. It's just getting started. Bunch of tribalist.

We are our own worst enemy!

But many African countries have stable power supply. Why is Nigeria different. Dey lie to ur head there o. Mumu.