stakeholder value chain, so that way we do not just think that the government woke up on just these two policies.
“There is a stakeholder forum that’s already set up for the industry. It’s called the Petroleum Industry Stakeholder Forum that is being headed by the Minister of Petroleum (Oil).
And we believe that this decision should be presented to the stakeholders so we can all make input as to the pros and cons of any of these policies,” PETROAN president stated.
The organisation also stated that, prices of products will continue to fluctuate, dictated by several factors, including landing cost of products, explaining that, it cannot give a commitment on either increase or decrease in prices.
“The price of petroleum products, especially PMS, is dependent on different parameters, mostly the cost for production, cost for delivery, and the total cost of landing. So if there is a shift in any one of these, it will obviously impact the price.
“If the cost goes down, then we’ll have lower prices. If the cost goes up, then we’ll have higher prices. So it’s not fixed, and we do hope that it will keep this up-and-down movement until sometime we’ll be able to deliver it on a particular average,” he added.
Gillis-Harry reiterated an earlier statement by the organisation that Nigerians should not embark on panic buying of products, noting that the circumstances that will determine whether there will be product scarcity or not are not there yet.
