Adeola Yusuf – Breakfast Interview (PPRA pricelist)

Breakfast Interview - by RadioNow / Mar. 21st, 2021
pppra

With the PPPRA (petroleum products pricing regulatory agency) releasing a price projection of N212.11k for a liter of petrol in Nigeria last Friday, many petrol stations were shut in cities across Nigeria, with others adjusting their pump sale to the projected price.

As only the NNPC (Nigerian national petroleum corporation) has the authority to set the price of petroleum in Nigeria, we are joined by oil and gas journalist Adeola Yusuf, to try and explain the reasoning behind this price projection.

In his opinion the reaction of Nigerians was as a result of two things:

“The issue of fuel crisis we have had over time, has made Nigerians to panic buy immediately they hear any projection they hear over time. Due to the declaration by the federal government in 2020 that they had deregulated the market, naturally people do no expect a kind of projection, once the market has been deregulated.”

queue to buy fuel

 

He also added that a market price cannot be set in a deregulated sector, as market forces are meant to be the determinant of how much the product should be sold.

You can listen to the full story in the audio player at the top of the page.

This episode of the breakfast interview originally aired live on Radio Now 95.3 FM Lagos, on the 15th of March, 2021.

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