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Fuel scarcity: Marketers give conditions to sell petrol at N145

Marketers give conditions to sell petrol at N145


The cost of petrol in the pricing template that is currently being reviewed will be determined by the rate of foreign exchange, oil marketers have said.

According to them, marketers will only import Premium Motor Spirit, popularly known as petrol, if the rate of forex is suitable enough to encourage the importation of the commodity, despite the ongoing review of template by the Federal Government.

On Friday, the Federal Government announced that it had commenced a review of the pricing template for petrol and insisted that the commodity would sell at N145 per litre.

However, oil marketers on Saturday, said the Federal Government could retain the cost of petrol at N145/litre after reviewing the pricing template, but outlined the conditions that will make this feasible for importers of petrol.

The National Vice President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, told SUNDAY PUNCH that it was possible to review the pricing template for PMS and retain the cost of the commodity at N145/litre.

He said, “Yes, anything government says it wants to do on this issue can be considered possible because the minister had already outlined three conditions.

“The first condition has to do with regulation and the next is for the NNPC to sell at a given rate to marketers who will now add their margins, while the third is through forex (foreign exchange).

“So if the government can give forex to marketers, then automatically marketers can be able to sell at the rate of N145/litre.

“So whether the template is reviewed or not, one major factor is the issue of forex. Currently, the dollar is about N365 and if the government can make it available to marketers at a rate of about N250, then marketers will be able to sell the product at the rate of N145/litre when they import.”

The IPMAN official also stated it is expected that Nigeria’s refineries will start functioning properly in about 18 months based on what the petroleum minister said recently at the National Assembly.

Maigandi said, “We hope that in the next 18 months our refineries will be in order, because that is what the minister said recently and he (Kachikwu) also said we are expecting other refineries to come on stream, like the Dangote refinery, as well as other modular refineries.

“But the truth is that as it is now, marketers cannot import petrol because of the cost of the commodity in the international market and the high forex rate.

“So we are expecting government to tell which of the listed conditions it will adopt so that this fuel crisis will end once and for all.”

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Another oil marketer, however, wondered how the template would be reviewed to retain the cost of petrol at N145/litre, considering the price of the commodity in the international market.

This is coming as the Nigerian National Petroleum Corporation on Saturday stated that the pump price of petrol was N143/litre in NNPC retail outlets and N145/litre in other filling stations, while PMS ex-depot price of N133.28k per litre to marketers was still being maintained
Source: The Punch


We can no longer sell fuel at N145 per litre, marketers

Marketers insist petrol can’t sell for N145 per litre

Olalekan Adetayo, Abuja

Fuel marketers on Tuesday insisted that they could no longer import Premium Motor Spirit at a control price of N145 per litre.

They also said they were not responsible for the recent scarcity of the product witnessed across the country.

The Chairman of Depot and Petroleum Marketers Association of Nigeria, Dapo Abiodun, disclosed these to State House correspondents at the end of a meeting stakeholders in the oil industry had with Federal Government’s delegation led by the Chief of Staff to the President, Abba Kyari.

The meeting which was held at the Old Banquet Hall of the Presidential Villa, Abuja was also attended by the heads of the Department of State Services and the Nigeria Immigration Service as well as representatives of other paramilitary services.

Abiodun said neither the Nigerian National Petroleum Corporation nor the independent marketers could be blamed for the recent fuel scarcity.
Source: The Punch

DPR seals eight petrol stations for selling at N220 per litre

DPR seals eight petrol stations for selling at N220 per litre

A fuel queue on the outskirts of Lagos

By Bassey Anthony, Uyo

The Department of Petroleum Resources (DPR), Eket field office has sealed 8 petrol filling stations for their refusal to revert to the government approved pump price of N145 per litre.
The DPR Operations Controller in Eket, Mr Tamunoiminabo Kingsley-Sundaye disclosed this to newsmen after while leading the surveillance team of the department to petrol stations across the state yesterday.
He said the eight filling stations were also sealed for various offences including diversion, and hoarding of the product.
Kingsley-Sundaye said that the filling stations sealed were located in Eket and Uyo, Local Government Areas of the state.
“The DPR surveillance team visited 25 filling stations in Eket, it was disheartening that one outlet who got product from NNPC station in Calabar, diverted the product.
“We have sanctioned those who violated government regulations and they are few who later comply and ready to reverse to government approved pump price.
“And others were selling above pump price of N220 per litre, it is unacceptable, those stations have been penalised and sealed.
Kingsley-Sundaye said that the department had begun surveillance to ensure sanity until normalcy return to the country.
He said that those filling stations sealed would be sanctioned and pay penalty to the Federal Government purse.
The Operations Controller observed that major marketers in Uyo are trying while most Independent marketers were selling above government approved pump price of N145 per litre.
Also read: Petrol pump price hits N250 per litre

He said that those stations who agreed to reverse to N145 per litre were supervised to sell their product to large extent in the areas.
Kingsley-Sundaye described the attitude of some of the marketers who refused to reverse their pump price as “impunity”.
“Surprisingly some of them show the attitude of impunity and therefore those once were been shutdown and appropriate sanction will be prescribed by DPR regulation,” Kingsley-Sundaye said.
He warned private depot owners and Independent marketers to sell their products at government regulated price, saying that there are rule and regulations guiding petroleum sector.
“Any depot who flaunt the government laws would be dealt with, everybody must respect the laws of the land,” he said.
Kingsley-Sundaye appealed to the public who buy fuel at the mega station to be orderly and behave themselves within the ambit of the law.
He called on marketers to bring evidence of buying fuel above ex- depot price from the depots so that the department would dealt with private depot owners who flout government laws.
Source: The Nation