.............NNPC assures Nigerians of products supply at Easter

By Adeola Yusuf



Some marketers of Premium Motor Spirit (PMS), also known as petrol, in parts of Lagos and Ogun states yesterday began to ration the product for motorists as high landing cost takes toll on their businesses. New Telegraph had reported that the landing cost of petrol hit N205 per litre two days after depot owners hiked the ex-depot price from N133.28 per litre official price to N139 per litre. More privately owned filling stations, checks by this newspaper showed yesterday, have begun to ration fuel while others locked gates for motorists.


Oando and other filing stations on the stretch of Ojodu road, except the mega station of Nigerian National Petroleum Corporation (NNPC), did not sell the product when this newspaper visited yesterday while queues were noticed at the NNPC. A motorist at the NNPC mega station, Mr. Folu Ijasan, told this newspaper that he just joined the queue when he noticed that many filling stations on the stretch of Ojodu road did not sell petrol. “My neighbour who works at a depot in Apapa has told us that privately owned filling stations got under supply of petrol. He said that many of them got 11,000 litres supply instead of their 33,000 litres demand.


“So, he said that we might begin to notice effect at filling stations from next week. I was alarmed today (yesterday) to have noticed that there are more filling stations who are not selling the product. The best I could do, which I have done, is to join the queues here at NNPC,” he said.


This same situation was noticed at the Ota, Ogun State as more stations shut their gates for motorists. None of the stations, including Faith and Mervelous, Florinkay, Iswat, Henry Oil on the Lafenwa Itele road, except Rakab Filling Station, sold the product yesterday. “The effect of this is yet to be generally noticed because mega stations and major marketers have supply of the product.


If nothing tangible is done, we may begin to have a situation at hand beginning from next week,” a management staff at a private depot in Apapa told New Telegraph. The NNPC, however, promised to sustain zero queues across the country, especially as Easter approaches. The corporation, in a statement, restated its commitment to what it described as “the sustenance of the present seamless supply and distribution of petroleum products across the country.” Group Managing Director of the corporation, Dr. Maikanti Baru, who made this commitment during the NNPC Special Day at the 30th Enugu International Trade Fair, added that no fewer than 55 depots across the country were fully stocked with petrol. He explained that 23 depots in Lagos, seven in Port Harcourt, 11 in Warri, six in Calabar and eight in Kaduna, were stocked with petrol. Baru, who was represented by the Chief Operating Officer, Refineries and Petrochemicals, Engr. Anibo Kragha, said that the ongoing rehabilitation of the nation’s refineries was aimed at reducing importation of petroleum products and demand for foreign exchange in the country.


The GMD stated that as industry leader, the major focus of the corporation was “value addition in all our activities”, which he said had helped to ensure maximum benefit to all its stakeholders. He reiterated the need to protect the corporation’s facilities, especially the pipelines, saying the corporation recorded 257 vandalised points in December 2018 alone, with Ibadan-Ilorin axis accounting for 34 per cent of the total. In his welcome address, President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture, Sir Emeka Udeze, commended the NNPC for the stability in the supply and distribution of petroleum products in the country and its consistency in participating at the annual event. He advised the management of the corporation not to allow a re-occurrence of the problems that hitherto affected the smooth operations of the downstream petroleum sector.

https://www.newtelegraphng.com/2019/04/marketers-ration-petrol-lock-gates-against-motorists-in-lagos-ogun/

I'm tired of Nigeria. Just so tired.

Hmm

Basically, reality is setting in.

The government cannot afford subsidy anymore. This was evident as far back as 2012...but we Nigerians refused to take a hint...

Time we removed subsidy. The whole thing is encouraging smuggling, and is becoming unfit for purpose.

New Telegraph had reported that the landing cost of petrol hit N205 per litre two days after depot owners hiked the ex-depot price from N133.28 per litre official price to N139 per litre. More privately owned filling stations, checks by this newspaper showed yesterday, have begun to ration fuel while others locked gates for motorists

Depot price now N139

And we expect marketers to keep on selling at N145?? Even with subsidy.?

Landing cost now N205

Subsidy has to go. Niger Republic, they pay N397 for fuel. Benin Republic pays N298 per liter. Time we in Nigeria faced the cold reality. We should have allowed GEJ to remove subsidy in 2012...but we refused. Now...we are in the non-sustainable mode. Our debt is growing. Something has to give.

There is already fuel scarcity in Ilorin as I speak....I pray it doesn't get to Lagos.

Hmmmm

Who is the nnpc chairman?
and we have a president in this yeye country.

Nigerians brace up for a hike in pump price. Welcome to N250/litre....

Abeg make anybody no complaint o and say how will the masses afford it. The masses that preferred to collect one piece of Ankara and sealed garri with groundnuts and sugar couple with N500 during the elections than vote according to their conscience for a better and sound candidate.

As for me, let them increase it to N500/litre, by God's grace I can conveniently afford it...

Welcome to next level!

Nigeria is synonymous to RETROGRESSION. Failed country always going in circles,masses get ready for increase in fuel price.

No matter how fast lies travels, the truth must surely overtake it

49 Sitting, 99 Standing
Overtake Has Overake The Overtake

NEXT LEVEL!

The truth is, NNPC better face facts. Buhari better face facts, and Nigerians better face facts.

Nigeria cannot afford subsidy. Landing cost is N205, we expect depot to sell at N139...and marketers to sell at N145 per liter?

What kind of confusion is this.

Subsidy must go. Yes, we will pay N200-300 for fuel.Yes, the government is composed of evil people who have looted and defrauded Nigerians for ages. Yes, I am an insensitive person , Yes, the World Bank wants to shortchange Nigerians

But how can we run a system that makes the downstream sector run at a loss...and then start crying when sharp practices like smuggling, inflation, etc happen?? Because marketers are businesspeople. They have to make money. Subsidy does not allow them make a profit.

Once subsidy goes, all those evil marketers will make huge profits...but foreign investment will flow in, jobs will flow in, government will save money, and more refineries would be built, and EVENTUALLY...prices will come down.

Let's be real. Cheap fuel is wrecking our economy.

Poor governance

IamAlexander:
Nigerians brace up for a hike in pump price. Welcome to N250/litre....

Abeg make anybody no complaint o and say how will the masses afford it. The masses that preferred to collect one piece of Ankara and sealed garri with groundnuts and sugar couple with N500 during the elections than vote according to their conscience for a better and sound candidate.

As for me, let them increase it to N500/litre, by God's grace I can conveniently afford it...

Welcome to next level!

Yes, let prices increase, because you cannot have landing cost of N205 AND sell at 145.

And stop all your complaining. The truth is, we must remove subsidy.


GEJ wanted to do it, people like you were protesting.

You cannot force businessmen to sell at a loss...and then expect things to be better.

If you want prices to come down...you have to let subsidy go. If you want investment...subsidy has to go. Government HAS to stop setting prices, and let the market do its thing.

And yes, this has nothing to do with PDP or APC.

Na how to spoil Easter. Hope say kerosene still dey

Next Level things.
"It's all a scam, there's no such thing as subsidy."
We die here together.

If God help me afford it. Then am fine

We are all responsible for this.

tactius:
Basically, reality is setting in.

The government cannot afford subsidy anymore. This was evident as far back as 2012...but we Nigerians refused to take a hint...

Time we removed subsidy. The whole thing is encouraging smuggling, and is becoming unfit for purpose.

we told them but they won't listen

tactius:


Yes, let prices increase, because you cannot have landing cost of N205 AND sell at 145.

And stop all your complaining. The truth is, we must remove subsidy.


GEJ wanted to do it, people like you were protesting.

You cannot force businessmen to sell at a loss...and then expect things to be better.

If you want prices to come down...you have to let subsidy go. If you want investment...subsidy has to go. Government HAS to stop setting prices, and let the market do its thing.

And yes, this has nothing to do with PDP or APC.

Assuming that it was removed fully then, can you imagine how far we without have gone in this country?

Missing you gej {subsidy},
missing you obasanjo {deregulation}
Thank you Buhari (who said nothing like subsidy when chasing power)

chai

seunlayi:
we told them but they won't listen

The truth is, most Nigerians don't want to pay higher for fuel.

But the thing is, even as early as 1993, subsidizing fuel has been unsustainable. The problem is, the minute you propose complete removal, you are either an imperialist, or you want to make Nigerians suffer.

The truth is, subsidy prevents the downstream sector from making a profit, which is why we don't have cash for new refineries, cash to fix exisiting refinereis, and cash to make things better. And investment is restricted...because who wants to invest under a system where government is controlling prices?

Economics 101...government should not be controlling prices.

The thing is, APC is going to do what governments have done in the past...either funnel more money we don't have to sustain subsidy, or increase prices by N10-20 , which would work for a year...until increased landing costs make it impractical.

Let's be real. Subsidy has to go. Yes...hardship...but the new jobs, profits, savings , investment, infrastructure...worth it.

tactius:
Basically, reality is setting in.

The government cannot afford subsidy anymore. This was evident as far back as 2012...but we Nigerians refused to take a hint...

Time we removed subsidy. The whole thing is encouraging smuggling, and is becoming unfit for purpose.

Kip kwayet
Time we removed which subsidy?During Jonas regime when he tried removing it,it wasn't time abi?so now is the time cos u are a little pissed?Baba will do sumtin..He is working tirelessly to take us to the next level.

Sai baba!

Fuel price already increased in Onitsha. I bought N155 yesterday.

SHAKABOOM:

Kip kwayet..Buhari will do sumtin

What I want to hear from Buhari is an announcement that marketers would be setting the price of fuel...not government.

Yes, by the following day, the price of fuel would be N250 and above. Yes, PEOPLE would suffer.

But investment would flow in, because now with the new regimen, there would be profits to be made. And these prifits would be reinvested in increasing refining capacity and more jobs. Plus, all the money poured into subsidy would be saved...and poured into railways and educaiton and health.

And eventually prices will fall.

Oil is at $80 .Nigeria needs it at $140 to run a balanced budget. We don't have the money, we have heavy debts due to the crash of oil prcies in 2016 to below $50...and we are taking on debts to stay afloat. We have no choice. Subsidy must go.

tactius:
The truth is, NNPC better face facts. Buhari better face facts, and Nigerians better face facts.

Nigeria cannot afford subsidy. Landing cost is N205, we expect depot to sell at N139...and marketers to sell at N145 per liter?

What kind of confusion is this.

Subsidy must go. Yes, we will pay N200-300 for fuel.Yes, the government is composed of evil people who have looted and defrauded Nigerians for ages. Yes, I am an insensitive person , Yes, the World Bank wants to shortchange Nigerians

But how can we run a system that makes the downstream sector run at a loss...and then start crying when sharp practices like smuggling, inflation, etc happen?? Because marketers are businesspeople. They have to make money. Subsidy does not allow them make a profit.

Once subsidy goes, all those evil marketers will make huge profits...but foreign investment will flow in, jobs will flow in, government will save money, and more refineries would be built, and EVENTUALLY...prices will come down.

Let's be real. Cheap fuel is wrecking our economy.

That price coming down is a partial myth. Every other thing you said was in order.

Many argue that with the introduction of GSM telephony, call prices which were quite high initially but with huge investment and competition, call rates have come down dramatically. Well said.

However, while calls are a service, petrol is a product. You can price a service anyhow you want, even give it out free as long as you can cover overheads and running cost and still make a profit.

The chrome browser is given out free by Google. It makes it money through pay per click advertising when one carries out search on Google. It reportedly made $11b in profits in a fiscal year.

A law firm may handle a case free, another 10m for the same case.

For a product however,it is different. You can't buy petrol at 205 and sell at 195. Remember that the prices of petrol and so on are set internationally. So if the price doubles on the international market, Dangote won't reduce his price

Look at the price of diesel. The price is deregulated. Has that brought down the price?

Dangote has said that his refinery will save Otedola N26 per litre, that is all things being equal.

About investment, what you said is spot on. There'll be massive investment in the downstream sector and lits of jobs creates. Dangote refinery will employ about 8,000 engineers. There will also be multiplier effects

tactius:


Yes, let prices increase, because you cannot have landing cost of N205 AND sell at 145.

And stop all your complaining. The truth is, we must remove subsidy.


GEJ wanted to do it, people like you were protesting.

You cannot force businessmen to sell at a loss...and then expect things to be better.

If you want prices to come down...you have to let subsidy go. If you want investment...subsidy has to go. Government HAS to stop setting prices, and let the market do its thing.

And yes, this has nothing to do with PDP or APC.

If the price increased to your projected amount, what do you think would happen to the fixed income earners when inflation hits?
Everything will go up and we will be worded than we were, if you are true to yourself, you should be advocate of let the refineries work and not let the price of PMS go up.

Should your prayer be answered, I will remind you of it when things go awry.

tactius:
The truth is, NNPC better face facts. Buhari better face facts, and Nigerians better face facts.

Nigeria cannot afford subsidy. Landing cost is N205, we expect depot to sell at N139...and marketers to sell at N145 per liter?

What kind of confusion is this.

Subsidy must go. Yes, we will pay N200-300 for fuel.Yes, the government is composed of evil people who have looted and defrauded Nigerians for ages. Yes, I am an insensitive person , Yes, the World Bank wants to shortchange Nigerians

But how can we run a system that makes the downstream sector run at a loss...and then start crying when sharp practices like smuggling, inflation, etc happen?? Because marketers are businesspeople. They have to make money. Subsidy does not allow them make a profit.

Once subsidy goes, all those evil marketers will make huge profits...but foreign investment will flow in, jobs will flow in, government will save money, and more refineries would be built, and EVENTUALLY...prices will come down.

Let's be real. Cheap fuel is wrecking our economy.

Technically the problem is not about subsidy, Until we started refining our fuel locally we will always experience this, even if Nigerian Gov remove subsidy now, due to our unstable exchange rate, it will still happen in the long run.