NNPC official: N145 no longer sustainable… pump price will increase


Mele Kyari, group general manager, crude oil marketing division of the Nigerian National Petroleum Corporation (NNPC), says the increase pump price of petrol is inevitable.

According to Vanguard, Kyari said this in Lagos at the 2016 Oil Trading and Logistics (OTL) Conference.

He reportedly said it was impossible to import products at the current foreign exchange rate, sell at the rate of N145 per litre, and make any gain.

“We have a very difficult business environment. It is impossible today to import products at the current market price – at the current foreign exchange rate. There is no way today you can take the product to retail and sell at N145. It is not possible today,” Kyari reportedly said.

“If that is true and I believe that it is true because we all go to the market, why can’t we sell above N145? I also know today that it is impossible for this government to announce tomorrow that petrol is about N150.

“The people will not take that number. That is why suppliers are not importing. It problem here is not FX. We have created a niche market for FX.

There we go again!
God EPP us

Plz dnt let us experience anoda scarcity again Mr president.

Why nt standardize those illegal refineries you are destroying up and down, so we can cut those import.

Refining crude oil is not rocket science.

The so called uneducated youths are doing it, why nt help by cordinating a standadization program for the locally refined product

Let us stop deceiving ourselves

May this NNPC slump and not recover

If only we had functioning refineries with good capacity . . .

Another strategy is for every looter who has above N20b to establish a modular refinery.

Ona fada there..

Zombies will still vote buhari if by 2019, fuel sells 250 per litre standard price.

Sibrah:
If only we had functioning refineries with good capacity . . .

The person that would av given u a good functuning refinery; u voted him out. With d cabals at d helm of things, don't expect any functuning refinery.

Pavarottii:

The person that would av given u a good functuning refinery; u voted him out. With d cabals at d helm of things, don't expect any functuning refinery.

The person under whose watch petrol subsidy grew by 600% ?
Or the one under whose watch we defended the Naira with over $120B and Naira still depreciated?
Please answer cos your obsession with 2019 is clear . . .

I don't blame them. Nobody does business to loose. I blame the clueless government of the day that keeps learning on the job with their ineffective policies. Every sane mind knew with the cbn forex policies that it will come to this. Only BLIND praise singers and zom+bees didn't.

Sibrah:
If only we had functioning refineries with good capacity . . .

But apc and buhari said the refineries will start working a long time ago or has it suddenly became "rocket science"

Sibrah:
The person under whose watch petrol subsidy grew by 600% ?
Or the one under whose watch we defended the Naira with over $120B and Naira still depreciated?
Please answer cos your obsession with 2019 is clear . . .

compared to today? What can you say about his strategies ? Slay or Nay? All these which is presumably my this roforofo regime ? And yet they want to borrow more
...

Nigeria jaga jaga, poor man dey suffer.

Sibrah:
The person under whose watch petrol subsidy grew by 600% ?
Or the one under whose watch we defended the Naira with over $120B and Naira still depreciated?
Please answer cos your obsession with 2019 is clear . . .

Jonathan defended the naira with over $120bn? Seriously,where do they manufacture people like you from? Do you guys think at all when talking or lying? Do you know what $120bn is? If they call you a slowpoke now, you'll say you were insulted. No wonder Nigeria is messed up.

chronique:


Jonathan defended the naira with over $120bn? Seriously,where do they manufacture people like you from? Do you guys think at all when talking or lying? Do you know what $120bn is? If they call you a slowpoke now, you'll say you were insulted. No wonder Nigeria is messed up.

Retàrds appear to doubt simple facts & statistics.

Don't just try the 2012 style, Christmas is near. Only God knws what the price of a bag of rice would be then.

chronique:


You mean retards like yourself? Always regurgitating silly stupid unverifiable facts and also inflating figures. Not everyone has a fish brain like you lots. Keep up with your stupidity. I'd be waiting for you to pull out a silly link to back up your claims.

Which one is silly link again? Clearly, you are afraid of the truth . . . Lol

There is nothing has worst n terrible other than dis useles wicked govt of buhari