The Nigerian National Petroleum Corporation has called for patience on the part of fuel consumers over the implementation of the new fuel pump price, which from Wednesday dropped from N145 per litre to N125.
According to him, whereas NNPC stations have complied with the new pump price, eventual compliance by independent marketers would be gradual because they had bought the product at a higher price. He added that the force of competition would eventually force down the price and the market would consequently correct itself.
“What we also know is that private marketers have bought products above this price from the market, and we know this is a transition.
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Those forces are in the pocket of the govt. and its allies.