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Arokoyo Denies Allegations of Determining Fuel Price in Kabba

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Olayinka Babatunde

The Managing Director of Maktot oil and Gas Limited and Chairman AF Ralph Progressive Ventures, Ralph Arokoyo has cleared the air on rumors making it round that he determines the fuel price in kabba and environs.

 

Arokoyo disclosed this in an interview with journalist on Tuesday in Abuja.

 

The entrepreneur said oil and gas business is highly competitive saying every marketer sells what they purchase.

 

He explained that in recent time,the product has not been gotten directly from NNPC saying they equally buy from private depot’s who sells to them at different prices, he added that the challenges in the business has been availability of the product and supply confirming the report that in the last one year, marktot oil and gas have not gotten a single litre from NNPC.

 

While answering questions from journalist on reasons for increase in price recently, Arokoyo said alot of bottlenecks have  made it so while purchasing from private depot.

 

“We get the product at exorbitant price of #670 naira per litre from Lagos, Warri, Portharcourt and other and pay as high as #45 naira per litre to transport to Kogi state making the landing cost #715 naira for Marktot oil and gas originally.

 

Arokoyo further explained that the reduction in price due to the fact that we have private trucks to load it down to Kogi state thereby making it #709 naira as at today in Marktot oil and gas.

 

The oil magnete said selling at #709 per litre is well subsidised for there customers adding that they pay tax to the Federal, state and Local government as filling station owner.

 

He however threw his weight behind the international business mogul, Alhaji Aliko Dangote as his role model who has developed his state and the nation at large by investing in sustainable businesses and an employer of labor.

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