• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, May 24, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Natural Resources

AGO price hike will worsen inflation – IPMAN

IPMAN

The Matters Press by The Matters Press
March 12, 2022
Reading Time: 1 min read
0
NBS reports increase in Inflation

Mr Chinedu Anyaso, a chietain of the Independent Petroleum Marketers Association of Nigeria (IPMAN) says the hike in the price of Automotive Gas Oil (AGO), popularly called diesel, will worsen inflation in the country.

RELATED POSTS

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

Anyaso, who is the Chairman of IPMAN, Enugu Depot Community, in Awka on Friday that the situation was unhealthy and that the hike portended stiffer hardship for Nigerians.

The price of the commodity went up about two weeks ago in Awka and its environs from N400 per litre to N650 per litre.

Diesel is the major source of energy for articulated vehicles, industries and hotels largely due to irregular public power supply.

Anyaso said the price hike of most refined petroleum products may not be unconnected with the rise in price of crude in the international market, arising from the Russian invasion of Ukraine.

He said the instability in prices was not good for IPMAN members and businesses generally.

“We are worried with the rise in the price of diesel and other petroleum products.

“The development is affecting our members because each time we go to depot to load, we see new price.

“It will certainly lead to general inflation because AGO is the major source of fuel for most transporters and manufacturing concerns across the country,” Anyaso said.

He, therefore, charged the Federal Government to take urgent steps to fix the country’s refineries or build new ones to protect citizens from the harsh effects of fluctuating international crude price.

He regretted that the downstream sector relied completely on importation and feared that there would always be supply problems, should the Russia/Ukraine war persist.

He gave assurance that IPMAN would continue to ensure seamless distribution of available products in the South-East at the prevailing market price.

Tags: InflationIPMAN
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Court visits Patience Jonathan’s money palaver
Economy/Technology

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

May 20, 2025
Nigeria suspends mining in Zamfara
Economy/Technology

Revival of mining sector causes increase in licensing fees in Nigeria

May 19, 2025
Make cash accessible, remove obstacles —stakeholders plead
Economy/Technology

Nigeria’s fast-track of cash transfer to 15m vulnerable households laudable – TMSG

May 17, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

Group faults Peter Obi’s claim on deteriorating education sector

May 16, 2025
Next Post
Trading in Nigerian stock market dips further N83bn

Stock market records N40bn gains

Intimidation, cyber-bullying by loan sharks

Exploitation of Nigerians by online loan lenders worries FCCPC

Recommended Stories

Free public transportation for retirees begins in Lagos

“I Am Alive” confirmation’’ of PTAD continues

February 1, 2024
Infrastructure gulp N2,7tn in Nigeria

Germany provides €10m to NEPAD-IPPF to boost infrastructure in Africa

July 7, 2023
Africa’s confab on tech innovation for Morocco

56,000 ITF-NECA trained technicians secure jobs, grants

November 24, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration
  • Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine
  • Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us