Capt. Emmanuel Iheanacho has linked the constant scarcity of petrol to monopoly of the product by the Nigerian National Petroleum Corporation (NNPC).
Iheanacho said that this was not realistic for marketers to import and sell at that rate.
“The selling of the product at N145 per litre is no longer feasible with the current exchange rate.
“Shortage of foreign exchange and increase in crude prices have made it unprofitable to import petrol and sell same at N145 per litre.
“The problem is that importation of petrol is being handled, almost 100 per cent, by NNPC, while private importers backed out because the increase in crude price has made the landing cost high,’’ he said.
He said that most independent marketers had closed their companies due to inability to pay their workers.
Iheanacho urged the Federal Government to settle all the outstanding debts owed marketers since 2015.
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