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Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans - Politics - Nairaland

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Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by comos: 9:47am On Jan 10, 2017
The inability of petroleum marketers to pay or service banks loans in the last two years is threatening further importation and could worsen the financial position of banks.

The marketers under the aegis of the Independent Petroleum Products Importers (IPPIs) said in a communiqué yesterday that members owe some banks as much as N305 billion ($1 billion) which has increased to N465 billion due to accumulated interest. They cited government’s discontinuation of the fuel subsidy regime and failure to pay outstanding arrears before the new pricing regime as reasons for their problems.

Already funding for fuel imports is affected and this could create product scarcity and raise pump prices. The scarcity of kerosene worsened yesterday in Lagos, Calabar, Kano and Kaduna states as a litre of the product sold for N400.

culled fom Guardian
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by casttlebarbz(m): 9:48am On Jan 10, 2017
una wan start again
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by Moyinoluwa35(f): 9:49am On Jan 10, 2017
I
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by qhilo(m): 9:50am On Jan 10, 2017
comos:
The inability of petroleum marketers to pay or service banks loans in the last two years is threatening further importation and could worsen the financial position of banks.

The marketers under the aegis of the Independent Petroleum Products Importers (IPPIs) said in a communiqué yesterday that members owe some banks as much as N305 billion ($1 billion) which has increased to N465 billion due to accumulated interest. They cited government’s discontinuation of the fuel subsidy regime and failure to pay outstanding arrears before the new pricing regime as reasons for their problems.

Already funding for fuel imports is affected and this could create product scarcity and raise pump prices. The scarcity of kerosene worsened yesterday in Lagos, Calabar, Kano and Kaduna states as a litre of the product sold for N400.

culled fom Guardian
I see Loans everywhere
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by Theyveedo(m): 9:53am On Jan 10, 2017
How much will it be sold this time.
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by HtwoOw: 12:26pm On Jan 10, 2017
Guardian no get link again ?


and i don check guardian , nothing like that
Re: Fuel Scarcity Looms As Nation’s Marketers Fail To Repay Loans by comos: 1:06pm On Jan 10, 2017
HtwoOw:
Guardian no get link again ?


and i don check guardian , nothing like that

go to guardian website,

click Nigeria and scroll down you will see the news there.

it was moved to that space few hours ago

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