The Oil Marketers Association of Nigeria has called upon the Federal Government to increase the pump price of petrol to about ₦155 per liter.
The Chairman of the association who is also the Managing Director and Chief Executive Officer of 11plc, Mr. Adetunji Oyebanji, disclosed this to CNBC on Tuesday, oyogist.com reports.
The pump price for a liter of petrol was increased to ₦145 to ₦150 by the Petroleum Products Pricing Regulatory Agency (PPPRA) in August.
The price was reduced in March following the decline in crude oil prices around the world due to the coronavirus pandemic.
The federal government had earlier claimed to have removed subsidy from petrol and set the price limit for marketers.
The oil marketers want the Federal Government to fully liberalized the sector and leave the unseen forces of demand and supply to determine the price of the products.
The chairman of the marketers association urged the Government to move beyond a subsidy to full liberalization of the sector.