Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,152,693 members, 7,816,832 topics. Date: Friday, 03 May 2024 at 06:13 PM |
Nairaland Forum / Nairaland / General / Politics / FG May Increase Fuel Pump Price Soon (674 Views)
FG May Increase Petrol Price To N180 Per Litre / Reps Fault N145 Fuel Pump Price, Accuses PPPRA Of Fraud / FG May Increase Petrol Price Soon - Marketers (2) (3) (4)
(1) (Go Down)
FG May Increase Fuel Pump Price Soon by Willdidi(m): 6:17pm On Sep 04, 2016 |
Fuel At N145/Liter No Longer Sustainable, NNPC Says They said the amount does not correspond with the price-determining components of the commodity and the fluctuations of the foreign exchange rate. BY PUNCH NEWSPAPERSEP 04, 2016 Former and present Group Managing Directors of the Nigerian National Petroleum Corporation have expressed fears that the current pump price of N145 per litre is no longer feasible. They said the amount does not correspond with the price-determining components of the commodity and the fluctuations of the foreign exchange rate. They stated this after a one-day meeting they held with the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, in Abuja. The NNPC in its statement said, “They (the GMDs) noted that the petrol price of N145/litre is not congruent with the liberalisation policy especially with the foreign exchange rate and other price determining components such as crude cost, Nigerian Ports Authority charges, etc remaining uncapped.” The declaration of the NNPC present and past bosses confirmed an exclusive report by SUNDAY PUNCHon August 7, 2016, in which oil marketers revealed that the actual or real cost of petrol was N151.87 when all the pricing components are adequately captured. The marketers had stated that they were struggling to maintain petrol price at N145 per litre because of the stiff competition in the downstream oil sector, but stressed that the practice was not sustainable. The GMDs, however, commended the NNPC for resolving the fuel supply crisis and urged the corporation to come up with measures that will ensure sustenance of seamless supply of petroleum products nationwide. According to the corporation, the GMDs expressed concerns about the declining crude oil production level and its consequences on the environment and the nation’s revenue. They further agreed that if the current situation remains unchecked, it could lead to the crippling of the corporation and the nation’s oil and gas sector which is the mainstay of the Nigerian economy. The Nigeria Labour Congress, Trade Union Congress, Afenifere, former federal lawmakers, security experts and rights activists, however, warned the President Muhammadu Buhari administration not to contemplate any further increase in the pump price of petroleum products in the country The General Secretary of the NLC, Dr. Peter Ozo-Eson, who stated this in an interview with SUNDAY PUNCH, said Nigerians would not accept further fuel price increment. Ozo-Eson had warned the government earlier this week against increasing the pump price of petroleum products in the country. He said, “We had given a warning before that Nigerians cannot take any further increase, that they shouldn’t do it. “That remains our position, and if they go ahead and do it, it is up to Nigerians to say how they want to respond to it. But we remain opposed to any new increase in the price of petroleum product.” Fuel At N145/Liter No Longer Sustainable, NNPC Says They said the amount does not correspond with the price-determining components of the commodity and the fluctuations of the foreign exchange rate. Read more: http:///2bVLp4K |
Re: FG May Increase Fuel Pump Price Soon by recievesense: 6:18pm On Sep 04, 2016 |
Post it hia. That ur sauce link resemble couterfeit |
Re: FG May Increase Fuel Pump Price Soon by Willdidi(m): 6:22pm On Sep 04, 2016 |
recievesense: I don try copy and paste everything from the site |
Re: FG May Increase Fuel Pump Price Soon by recievesense: 6:33pm On Sep 04, 2016 |
Willdidi: Correct guy |
Re: FG May Increase Fuel Pump Price Soon by recievesense: 6:34pm On Sep 04, 2016 |
But wait oh this is serious |
Re: FG May Increase Fuel Pump Price Soon by Mynd44: 6:39pm On Sep 04, 2016 |
(1)
Nigeria Deeply Divided - UN Report / Breaking News.... Edo Election Will Go On As Scheduled - Inec / Why Nigeria Went Into Recession -the Factual Analysis By Oby Ezekwesili
(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. 22 |