The Major Oil Marketers Association of Nigeria has expressed its belief that reducing the price of petrol to N200 per litre is an unattainable goal, even with the refurbishment of the country's refineries. This statement was issued in response to recent claims made by the Independent Petroleum Marketers Association of Nigeria, suggesting that petrol prices could fall below N200 per litre if the refineries were operational.

Joseph Obele, the Chairman of the Independent Petroleum Marketers Association of Nigeria in Rivers State, had urged the Federal Government to prioritize the repair of the nation's refineries. He argued that as long as these refineries remained non-functional, fuel prices would continue to rise due to international factors. However, when the refineries were fully operational, Nigerians could expect to purchase fuel for less than N200 per litre.

Tunji Oyebanji, the Chief Executive Officer and former chairman of the Major Oil Marketers Association of Nigeria, also weighed in on the issue. He highlighted the impact of the exchange rate between the dollar and the naira on petrol prices. Additionally, Oyebanji pointed out that the price of crude oil on the global market had been steadily increasing due to high demand and production cuts enforced by the Organization of the Petroleum Exporting Countries (OPEC).

In conclusion, it is the stance of the Major Oil Marketers Association of Nigeria that the notion of petrol prices dropping to N200 per litre is misleading, primarily attributing the current pricing challenges to exchange rate fluctuations and international oil market dynamics.