Breaking: NYCN, Yala Chapter protests against Filling station owners over non-compliance with FG N123.5 per litre sale of PMS.

Protest by Yala NYCN

Adoga Michael Oyi || TheEaglesVoiceblog

The National youths council of Nigeria, Yala local government Area, Cross River State chapter led by Comr. Abraham Okayi as her coordinator has today 1/04/2020 taken to the street of Yala LGA in protest against the noncompliance of filling station owners with the Federal Government directives on N123.5 sale of Premium motor spirit (PMS) also known as Fuel. 

Remember, the FG under the leadership of president Muhammad Buhari on the 18/03/2020 ordered the immediate reduction in pump price of PMS from N145 to N123.5 mandating the NNPC to effect the changes immediately. 

The Minister of State for Petroleum, Timipre Sylva, who gave an insight into the development after the meeting presided over by Buhari, said: “The drop in crude oil prices has lowered the expected open market price of imported petrol below the official pump price of N145 per litre.

Protest by NYCN, Yala chapter

“Therefore, Mr. President has approved that Nigerians should benefit from the reduction in the price of PMS which is a direct effect of the crash in global crude oil prices.

“In view of this situation, based on the price modulation template approved in 2015, the Federal Government is directing the NNPC to reduce the ex-coastal and ex-depot prices of PMS to reflect current market realities.

“Also, the PPPRA shall subsequently issue a monthly guide to NNPC and marketers on the appropriate pricing regime.

“The agency is further directed to modulate pricing in accordance with prevailing market dynamics and respond appropriately to any further oil market development.

“It is believed that this measure will have a salutary effect on the economy, provide relief to Nigerians and would provide a framework for a sustainable supply of PMS to our country.

“The Ministry of Petroleum Resources will continue to encourage the use of compressed natural gas to complement PMS utilization as a transport fuel.”

“We are still consulting, we are still following it closely. Of course, usually, the product prices follow the crude oil price but we are still consulting. We will get back to you, please, be patient,” he stated.

Up to this moment, while other part of country has effected the change, Yala LGA petrol dealers has fragrantly refused to adjust their pump to N123.5 per litre which has neccesitated the protest by Comr Abraham Okayi NYCN, after several weeks of deliberation.