Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,340 members, 7,780,896 topics. Date: Friday, 29 March 2024 at 03:26 AM

Forex Scarcity: Marketers Still Depend On NNPC - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Forex Scarcity: Marketers Still Depend On NNPC (259 Views)

Naira Appreciates As Manufacturers Lament Forex Scarcity / Emefiele: Forex Scarcity Bringing Out The Best In Nigerians / Forex Scarcity: Banks In Multi-million-dollar Racketeering (2) (3) (4)

(1) (Reply)

Forex Scarcity: Marketers Still Depend On NNPC by ifyan(m): 9:10am On May 25, 2016
By Clara Nwachukwu

Despite the ‘relief’ from the pains of scarcity, following the increase in the pump price of premium motor spirit, PMS, also called petrol to N145 per litre, and liberalisation of sourcing for foreign exchange, FOREX, majority of the oil marketers still depend on the Nigerian National Petroleum Corporation, NNPC, for their supplies.

Dependence on NNPC supplies follows challenges being faced by petroleum products importers and oil marketers in sourcing for the requisite forex to enable them bring in refined products.

Nevertheless, with the gains of the pump price increase, marketers are now more willing to expand investments in downstream operations, including investing in private refineries.

Pending final decisions on the refineries, the Major Marketers Association of Nigeria, MOMAN, revealed that its members has already invested about $2 million in ultra-sonic metering system for a more reliable volume capture from the vessel.

Read more@http://www.nairausd.com/2016/05/forex-scarcity-marketers-still-depend.html?m=1

Twitter@naira usd

(1) (Reply)

Happy Eid El Ftr From Productionpanel / Linkedin Cofounder Pledges To Donate Up To $5 Million To Trump If......... / Personal Income Tax Nigeria

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 7
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.