The Federal Government has agreed to grant oil marketers further concession to access Foreign Exchange (FOREX) at a rate below the official N305 per dollar to enable them resume importation of petrol, Daily Trust has learnt.


This was part of resolutions reached at the meeting of an ad hoc committee set up by the Presidency to engage key downstream stakeholders on sustainable solutions to fuel supply in the country.


The meeting took place at the office of the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, in Abuja yesterday.


Sources at the meeting told Daily Trust that the new rate is being worked out by a special committee on FOREX in collaboration with the Central Bank of Nigeria (CBN) and Ministry of Finance.


The Nigerian National Petroleum Corporation (NNPC) had recently lamented that despite the concession by the government giving access to the Depot and Petroleum Products Marketers Association (DAPPMA) to obtain FOREX at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market.


The National Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Danladi Pasali, said the committee which is charged with the resumption of petrol import by marketers will look into how to make the US dollar available to marketers instead of paying them subsidy.


“That FX will help checkmate the cost of bringing in product,” Pasali said, adding, “With all these measures taken, we can assure the general public that there will be surplus petroleum product.”


He explained that the other sub-committees will look into product distribution and surveillance.
It was also gathered from the meeting that marketers agreed that the price of petrol should not be increased.


Oil marketers agreed to adopt cost-cutting strategies and for them to look inward and improve efficiency so that they can cut cost and resume imports.


The committee has as members, heads of some parastatals under the ministry, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), DAPPMA, IPMAN, and labour officials.

Firefire:
Useless government full of fraudulent being.

Shame on Mohomodu Buhary

Shame on APC

Shame on the useless CHAIN-GE

chomchom1 Apost=63876185:
confused government. president of zoo and blind followers. Sarki , Ngenekwu come and see ua president achievement. God please keep all man alive to harvest whatever he sow. Amen

omenkaLives:
@ bold: Yet he claims to have passed through a university - how more impossible could that be!

@ Story :

I bet the marketers are finally satisfied making the abominable profits the set out to during the yuletide and are not ready to work with the government to stabilise the situation.

They understand the yuletide is the biggest holiday period in the country and would do whatever it takes to make a killing during such time. They understand even if the price at the pump is jacked up by a thousand percent, Nigerians would still patronise them!

The options being explored to resolve the lingering crisis today have always been on the table- tax holiday and special benchmark for fx. Why they make it sound as though they are novel intervention mechanisms is intended only to deflect blame from themselves.

It is a shame that a particular tribe and CAN tried to put an ethnic and religious colouration to the unfortunate situation which, ironically, didn't spare even the government itself (recall a governor purchasing at black market)!

It is well with Nigeria.

omenkaLives:
@ bold: Yet he claims to have passed through a university - how more impossible could that be!

@ Story :

I bet the marketers are finally satisfied making the abominable profits the set out to during the yuletide and are not ready to work with the government to stabilise the situation.

They understand the yuletide is the biggest holiday period in the country and would do whatever it takes to make a killing during such time. They understand even if the price at the pump is jacked up by a thousand percent, Nigerians would still patronise them!

The options being explored to resolve the lingering crisis today have always been on the table- tax holiday and special benchmark for fx. Why they make it sound as though they are novel intervention mechanisms is intended only to deflect blame from themselves.


It is a shame that a particular tribe and CAN tried to put an ethnic and religious colouration to the unfortunate situation which, ironically, didn't spare even the government itself (recall a governor purchasing at black market)!

It is well with Nigeria.

tigerclaws:
[s][/s]
shatap there and get out
you're disgracing yourself
firefire is 10000% better than you atleast he's more wiser than you and your so called education that put all your trust in an old illiterate terrorist donkey
He's better than you because he opposed the terror that fulani herdsmen unleashed against his people and mr Olu falae but what of you? you'll rather criticize those speaking up for your people why? because you're benefiting from this useless government hence you prefer the benefits to the innocent blood of your people
or maybe because you'll be seen as an enemy of buhari if you dare speak up against fulani herdsmen his tribesmen.
omenka it's very shameful of you
nobody takes you serious anymore
so you see firefire is far better than you
your education is useless ig you cannot use it to help your people
Stop adding to their sorrows
repent dude
grow up

2cato:

your fulani lord and masters are using your people for making suya and you see nothing wrong with it
they even dare to spray pepper and hot water combine with hot big bullet on them fore dare to protest and you never see any thing wrong with it
if you think the problem of nigeria is due to bad followers like omenkaLives blamming CAN for defending and speaking out for the Christians who have no voice click like
if you think the problem of nigeria is due to bad leaders click share













It is well with Nigeria

omenkaLives:
@ bold: Yet he claims to have passed through a university - how more impossible could that be!

@ Story :

I bet the marketers are finally satisfied making the abominable profits the set out to during the yuletide and are not ready to work with the government to stabilise the situation.

They understand the yuletide is the biggest holiday period in the country and would do whatever it takes to make a killing during such time. They understand even if the price at the pump is jacked up by a thousand percent, Nigerians would still patronise them!

The options being explored to resolve the lingering crisis today have always been on the table- tax holiday and special benchmark for fx. Why they make it sound as though they are novel intervention mechanisms is intended only to deflect blame from themselves.

It is a shame that a particular tribe and CAN tried to put an ethnic and religious colouration to the unfortunate situation which, ironically, didn't spare even the government itself (recall a governor purchasing at black market)!

It is well with Nigeria.

FOLYKAZE:


How does this garbage counter Omenka's post?

FOLYKAZE:


Address the topic and stop bleating like a goat

tigerclaws:
[s][/s]
shatap there and get out
you're disgracing yourself
firefire is 10000% better than you atleast he's more wiser than you and your so called education that put all your trust in an old illiterate terrorist donkey
He's better than you because he opposed the terror that fulani herdsmen unleashed against his people and mr Olu falae but what of you? you'll rather criticize those speaking up for your people why? because you're benefiting from this useless government hence you prefer the benefits to the innocent blood of your people
or maybe because you'll be seen as an enemy of buhari if you dare speak up against fulani herdsmen his tribesmen.
omenka it's very shameful of you
nobody takes you serious anymore
so you see firefire is far better than you
your education is useless ig you cannot use it to help your people
Stop adding to their sorrows
repent dude
grow up

2cato:

rats in aso rock get out off my mention

madridguy:
I'm with any policy that will put an end to this scarcity.