The factors of oil scarcity in Nigeria:

Reports said that oil marketers were no longer interested in importing the product mainly because of the rising exchange rate of the dollar to the Naira.
The other factors responsible for the marketers’ action are delayed subsidy payments and rising interests on loans from banks.
An official of a major marketing firm, who declined to have his name in print, said, “I am afraid that we cannot continue to import petrol because it costs more now to do so owing to the recent devaluation of the Naira. The rising amount of petrol subsidy arrears payable to us coupled with the high interests on loans from financial institutions, are still major issues in our hands.”
Another marketer said that an exchange rate of N226 per dollar was demanded on import duties contrary to the inter-bank exchange rate of N198 posted on the website of the Petroleum Products Pricing Regulatory Agency for the pricing template of PMS approved on February 19, 2015.
The major marketers import close to 60 per cent of petrol consumed in the country while the Nigerian National Petroleum Corporation imports the balance.

ACCORDING TO OIL MARKETERS THE FUEL SCARCITY WILL COUNTINUE WITH THESE FACTORS:
1. subsidy payments delayed
2. rising interests on loans from banks
3. import duties contrary to the inter-bank exchange rate (N198 to $)
4. an exchange rate of N to $ (N226 per dollar)
But look at this fact:

A black market or underground economy is a market in which goods or services are traded illegally. The key distinction of a black market trade is that the transaction itself is illegal. The goods or services themselves may or may not be illegal to own, or to trade through other, legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy that is supported by the established state power. Common motives for operating in black markets are to trade contraband, avoid taxes and regulations, or skirt price controls or rationing. Typically the totality of such activity is referred to with the definite article as a complement to the official economies, by market for such goods and services.

The black market in currencies refers to the illegal or parallel market in foreign exchange in various countries around the world. The currency black market forms part of the underground economy by virtue of operating outside legal banking channels. In a currency black market, cash transactions are almost always the norm, since participants would be obviously reluctant to leave any trace of their involvement in such transactions.

Why Do Currency Black Markets Exist?
Currency black markets typically spring up in countries that have the following characteristics in common:

Weak economic fundamentals, such as a high rate of inflation and limited foreign exchange reserves.
Strict currency controls that limit the amount of foreign currency available to residents.
A fixed exchange rate regime where the domestic currency is pegged at an unrealistically high exchange rate to the U.S. dollar or another global currency.
A lack of confidence among the citizenry in the value of the domestic currency.

As a result, substantial demand for foreign currencies is created in a nation with these attributes, as its citizens seek to hedge the value of their cash holdings. However, the currency controls make it extremely difficult for people to buy foreign currencies with their domestic currency at the official exchange rate. A black market, therefore, develops for foreign currencies that would generally be priced at a significant premium to the official exchange rate, because of its artificial value and the demand-supply imbalance.

AS FAR AS THE MARKETERS WILL OPERATE ON BLACK MARKET PRICE.
AS FAR AS THE EXCHAGE RATE CHANGES CONSTATLY.
AS FAR AS SUBSIDY WILL NO PAID IN TIME.
AS FAR AS INTEREST RATE RISING
AS FAR AS LARGE QUANTITY OF FUEL IMPORTED BY MARKETERS(60%) COUNTINUE
Then I can say the fuel scacity is here to stay in Nigeria forever!

I think the ratio is actually NNPC 52% and Marketers 48%. All the same we got our hands on a very dicey situation an offshoot of the approach the cbn took a few months back. Now its like a domino, and everything begins to fall like a pack of cards. One wrong move was all it took, we can only pray for the recovery in the oil price so we can fall back on the same Niger Delta people that are greatly castigated. I saw a lot of ignorant comments in the past about the "Niger Delta Oyel". But truth is that is the only thing that can quickly take us out of the forthcoming chaos. Diversification will take wuite ome time to achieve, we can mainly hope for the rise in that "Oyel's"price.

FOW! Englishian Lolz!

Thank God we witness the change we want

#changeischange

Oil marketers about to take law into their hands,dem for call police to arrest and prosecute the nation.
Btw who is the nation self,na northerner?

akoraye:
FOW! Englishian Lolz!

had to check my keypad layout to see if V is so close to F.

AFTER YOU EAT YOUR OWN 'YAM' FOR DREAM, YOU CAME UP WITH THIS THRASH??

oyinkinola:
The factors of oil scarcity in Nigeria:

Reports said that oil marketers were no longer interested in importing the product mainly because of the rising exchange rate of the dollar to the Naira.
The other factors responsible for the marketers’ action are delayed subsidy payments and rising interests on loans from banks.
An official of a major marketing firm, who declined to have his name in print, said, “I am afraid that we cannot continue to import petrol because it costs more now to do so owing to the recent devaluation of the Naira. The rising amount of petrol subsidy arrears payable to us coupled with the high interests on loans from financial institutions, are still major issues in our hands.”
Another marketer said that an exchange rate of N226 per dollar was demanded on import duties contrary to the inter-bank exchange rate of N198 posted on the website of the Petroleum Products Pricing Regulatory Agency for the pricing template of PMS approved on February 19, 2015.
The major marketers import close to 60 per cent of petrol consumed in the country while the Nigerian National Petroleum Corporation imports the balance.

ACCORDING TO OIL MARKETERS THE FUEL SCARCITY WILL COUNTINUE WITH THESE FACTORS:
1. subsidy payments delayed
2. rising interests on loans from banks
3. import duties contrary to the inter-bank exchange rate (N198 to $)
4. an exchange rate of N to $ (N226 per dollar)
But look at this fact:

A black market or underground economy is a market in which goods or services are traded illegally. The key distinction of a black market trade is that the transaction itself is illegal. The goods or services themselves may or may not be illegal to own, or to trade through other, legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy that is supported by the established state power. Common motives for operating in black markets are to trade contraband, avoid taxes and regulations, or skirt price controls or rationing. Typically the totality of such activity is referred to with the definite article as a complement to the official economies, by market for such goods and services.

The black market in currencies refers to the illegal or parallel market in foreign exchange in various countries around the world. The currency black market forms part of the underground economy by virtue of operating outside legal banking channels. In a currency black market, cash transactions are almost always the norm, since participants would be obviously reluctant to leave any trace of their involvement in such transactions.

Why Do Currency Black Markets Exist?
Currency black markets typically spring up in countries that have the following characteristics in common:

Weak economic fundamentals, such as a high rate of inflation and limited foreign exchange reserves.
Strict currency controls that limit the amount of foreign currency available to residents.
A fixed exchange rate regime where the domestic currency is pegged at an unrealistically high exchange rate to the U.S. dollar or another global currency.
A lack of confidence among the citizenry in the value of the domestic currency.

As a result, substantial demand for foreign currencies is created in a nation with these attributes, as its citizens seek to hedge the value of their cash holdings. However, the currency controls make it extremely difficult for people to buy foreign currencies with their domestic currency at the official exchange rate. A black market, therefore, develops for foreign currencies that would generally be priced at a significant premium to the official exchange rate, because of its artificial value and the demand-supply imbalance.

AS FAR AS THE MARKETERS WILL OPERATE ON BLACK MARKET PRICE.
AS FAR AS THE EXCHAGE RATE CHANGES CONSTATLY.
AS FAR AS SUBSIDY WILL NO PAID IN TIME.
AS FAR AS INTEREST RATE RISING
AS FAR AS LARGE QUANTITY OF FUEL IMPORTED BY MARKETERS(60%) COUNTINUE
Then I can say the fuel scacity is here to stay in Nigeria forever!

Adojutini omo ma ni wo. Ewo tu ni

"FOW" ? l'tito ko si V l'ede Anago sugbon e ma gbiyanju die,Haba!!

FOW ko Penalty ni!!

akoraye:
FOW! Englishian Lolz!

sorry Briston, this is what I mean:
FOW is an abbreviation of ( F=FIRM , O=OVERSTAY, W=WATCH-DOG) when FOW may sound VOW but I mean:
OIL MARKETERS FIRM OVERSTAY WATCH-DOG TO PUNISH THE NATION FOREVER!