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Why We Can’t Sell Petrol At 125/litre – Marketers - Politics - Nairaland

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Failed Governor Can’t Sell Failed Candidate To Us – PDP Tells Akeredolu / Why We Cannot Sell Petrol At N145 Per Litre In South East – Marketers / We Can No Longer Import, Sell Fuel At N145/litre — Marketers (2) (3) (4)

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Why We Can’t Sell Petrol At 125/litre – Marketers by Islie: 4:39pm On Mar 19
Private fuel marketers have yet to reduce the pump price of Premium Motor Spirit ( petrol ) , while retail stations belonging to the Nigerian National Petroleum Corporation have started selling at N 125 per litre .

The PUNCH correspondent, who visited several filling stations including Oando, Mobil and Capital Oil and Gas on the Lagos - Ibadan Expressway as well as Total at Ikosi -Ketu , on Thursday morning , observed that the private marketers were selling at N 145 per litre of petrol.

“ What we are asking the government is that : who is going to pay us between the old price and the new price on our old stock? And without them verifying our old stock and telling us what they will pay us and when they will pay us, we will not load, ” a top official of one of the fuel marketers’ associations told our correspondent on condition of anonymity.

He said marketers would continue to sell the product at the old rate pending when the issues would be resolved.

“ Marketers are holding their strategy session . We will have a common front . The GMD ( of NNPC ) has invited us for a stakeholders ’ meeting , which should have been done before the announcement of the new price . By the end of today, we will have a clearer picture of how they are going to involve us,” he added.

The Federal Government had noted on Wednesday that the drop in crude oil prices had lowered the expected open market price of imported petrol below the official pump price of N 145 per litre .

“ Therefore, Mr President has approved that Nigerians should benefit from the reduction in the price of PMS which is a direct effect of the crash in global crude oil prices ,” the Minister of State for Petroleum Resources , Chief Timipre Sylva, said in a statement .

He said the Petroleum Products Pricing Regulatory Agency would subsequently issue a monthly guide to the NNPC and marketers on the appropriate pricing regime .

The NNPC , on Wednesday , directed all its retail station to change the retail pump price to N 125 per litre from N 145.

The Group Managing Director , NNPC , Mallam Mele Kyari , said the corporation had reviewed its ex -coastal , ex- depot and NNPC retail pump prices in compliance with the directives of the Minister of State for Petroleum Resources , Chief Timipre Sylva, on the pricing of PMS.

He said , “ Effective March 19 , 2020 , NNPC ex -coastal price for PMS has been reviewed downwards from N 117. 6 /litre to N 99 .44 / litre while the ex -depot price is reduced from N 133 .28 / litre to N 113. 28 / litre.

“ These reductions will , therefore , translate to N 125 / litre retail pump price . Despite the obvious cost implication of this immediate adjustment to the corporation , NNPC is delighted to effect this massive reduction of N 20 / litre for the benefit of all Nigerians .”

https://punchng.com/why-we-cant-sell-petrol-at-125-litre-marketers/

4 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by bluecircle470: 4:42pm On Mar 19
You're mad

108 Likes 2 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by ubongokon(m): 4:43pm On Mar 19
We knew that will the excuse. This your time

38 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by kelvincoll(m): 4:44pm On Mar 19
I saw it coming though.

If it were an upward review in prices, would you selfish marketers have retailed at the current price? u would have adjusted immediately.

574 Likes 33 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by ursullalinda(f): 4:45pm On Mar 19
I bought #125 today oh... wonder where these ones are speaking from......I stay in Lagos too.

87 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Runaway: 4:48pm On Mar 19
Criminals. I wish it was increased, u wouldn't explain like this. Criminals everywhere.....

106 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Olunmercy56(f): 4:49pm On Mar 19
I knew it, awon ole undecided undecided if the government increase the price, they too will immediately increase their prices too lipsrsealed lipsrsealed

128 Likes 4 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Racoon(m): 4:49pm On Mar 19
Corrupt marketers and NNPC.Another problem loading.

1 Like

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Flyingngel(m): 4:50pm On Mar 19
An average Nigerian is greedy; always making things difficult for his or her fellow country men.

278 Likes 13 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by helinues: 4:51pm On Mar 19
But FG said they will pay for the subsidy now

Useless marketers..

FG should make a policy whereby any products and services that will be increased unjustly due to the Corona virus, those people should be arrested

16 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Runaway: 4:51pm On Mar 19
When government increase the price, there is no old stock, but when it reduce old price with be everywhere.....

94 Likes 5 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Runaway: 4:51pm On Mar 19
When government increase the price, there is no old stock, but when it reduce old price with be everywhere..... Make una fear God o...

31 Likes 2 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by lemonys(m): 4:53pm On Mar 19
If it was an increase in price, they wouldn't have waited until they finish their old stock before adjusting to the new price.
black men with black hearts.

176 Likes 6 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Maxymilliano(m): 4:54pm On Mar 19
I went to a filling station and filled my tank, I paid him exact amount @125 per liter, after counting he wanted to say something but i looked at him straight in the eye and he saw i was ready to change it for him if he dare complain, he just said "Oga you for ask me the price before naa" I left without saying anything.

197 Likes 8 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by jojomario(m): 4:55pm On Mar 19
kelvincoll:
I saw it coming though.

If it were an upward review in prices, would you selfish marketers have retailed at the current price? u would have adjusted immediately.
it is neccessary you increase the pump price if there is inrease in lifting cost. If you dont, how would you purchase the new price.

8 Likes 3 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by oz4real83(m): 4:56pm On Mar 19
An average Nigerian businessman will never effect immediate reduction in prices of goods even when the costs of the factors of production fall, but they will sponteneously increase the prices when the costs of factors of production increase, some nigerians' greed most times is so overwhelming.

30 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Lanre4uonly(m): 5:47pm On Mar 19
Their response is very much expected.

1 Like

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by GamalNasser: 7:48pm On Mar 19
helinues:
But FG said they will pay for the subsidy now

Useless marketers..

FG should make a policy whereby any products and services that will be increased unjustly due to the Corona virus, those people should be arrested

Which subsidy again? How come you never understand anything properly

43 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Goke7: 7:51pm On Mar 19
but this excuse will never suffice if the price was increased, awon ole jati jati

2 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by fastlane84: 8:09pm On Mar 19
ursullalinda:
I bought #125 today oh... wonder where these ones are speaking from......I stay in Lagos too.


NNPC?

1 Like

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by TylerDurden: 8:14pm On Mar 19
After they devalue the naira and totally remove subsidy, you can bet your wretched ass that fuel will be selling between 250-350 naira per litre.

7 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Xisnin(m): 8:19pm On Mar 19
Another avenue to steal from the government through indirect subsidy.
They will be using "old stock" excuse to blackmail the government.

2 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by TylerDurden: 8:20pm On Mar 19
Goke7:
but this excuse will never suffice if the price was increased, awon ole jati jati

sharap zombie.

NNPC never removed subsidy. They only made accommodations for the naira's devaluation from 197 to 360.

Buhari is still paying subsidy which they are calling ''under recovery''.

And FYI, NNPC is claiming that they are supplying 50 million litres per day.

This has seen the subsidy payment well over a trillion naira annually despite the fact that Nigerians can barely afford to fill their tanks.

The level of wicked and heartless looting and corruption going on in this govt is mind-boggling.

Only NNPC now imports fuel as most marketers can not afford to import owing to Federal govt policy on refusing them access to forex.

All marketers now buy from NNPC.

The NNPC then inflates the amount it sells to marketers and from there loot double in the form of increased subsidy payments to themselves and reconciling sale of non-existing fuel.

29 Likes 4 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by ursullalinda(f): 9:07pm On Mar 19
fastlane84:



NNPC?



Yes
Re: Why We Can’t Sell Petrol At 125/litre – Marketers by adekolaelect(m): 9:25pm On Mar 19
TylerDurden:


sharap zombie.

NNPC never removed subsidy. They only made accommodations for the naira's devaluation from 197 to 360.

Buhari is still paying subsidy which they are calling ''under recovery''.

And FYI, NNPC is claiming that they are supplying 50 million litres per day.

This has seen the subsidy payment well over a trillion naira annually despite the fact that Nigerians can barely afford to fill their tanks.

The level of wicked and heartless looting and corruption going on in this govt is mind-boggling.

Only NNPC now imports fuel as most marketers can not afford to import owing to Federal govt policy on refusing them access to forex.

All marketers now buy from NNPC.

The NNPC then inflates the amount it sells to marketers and from there loot double in the form of increased subsidy payments to themselves and reconciling sale of non-existing fuel.

Tell us why is it bad for marketers to buy fuel from NNPC? Tell us if there is any crisis of fuel and foreign exchange in Nigeria since when government adopt the idea? Tell us if what you wrote up is correspond to the topic "why marketers could not implement the new price ?are you telling us what they are doing is good? Must we blame the government for everything ? You blame government if price increase you are still blaming government for marketers for not adjusting to the ney price giving when government announced the new drop in price?? Your head need to be checked grin

24 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Okoroawusa: 9:26pm On Mar 19
ursullalinda:
I bought #125 today oh... wonder where these ones are speaking from......I stay in Lagos too.
It must be an NNPC station

2 Likes

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Okoroawusa: 9:28pm On Mar 19
TylerDurden:


sharap zombie.

NNPC never removed subsidy. They only made accommodations for the naira's devaluation from 197 to 360.

Buhari is still paying subsidy which they are calling ''under recovery''.

And FYI, NNPC is claiming that they are supplying 50 million litres per day.

This has seen the subsidy payment well over a trillion naira annually despite the fact that Nigerians can barely afford to fill their tanks.

The level of wicked and heartless looting and corruption going on in this govt is mind-boggling.

Only NNPC now imports fuel as most marketers can not afford to import owing to Federal govt policy on refusing them access to forex.

All marketers now buy from NNPC.

The NNPC then inflates the amount it sells to marketers and from there loot double in the form of increased subsidy payments to themselves and reconciling sale of non-existing fuel.

What exactly are you saying?

14 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by TylerDurden: 9:31pm On Mar 19
Okoroawusa:

What exactly are you saying?

Marketers get forex outside CBN rates.

Marketers then have to compete with NNPC which imports fuel with govt rebates at lower FOREX rates.

How do you expect them to sell at the same price when NNPC is even claiming to be selling at a loss and are declaring meeting the downstream sector demand as ''under recovery''


Make una get sense.

1 Like 2 Shares

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by Goke7: 9:49pm On Mar 19
TylerDurden:


sharap zombie.

NNPC never removed subsidy. They only made accommodations for the naira's devaluation from 197 to 360.

Buhari is still paying subsidy which they are calling ''under recovery''.

And FYI, NNPC is claiming that they are supplying 50 million litres per day.

This has seen the subsidy payment well over a trillion naira annually despite the fact that Nigerians can barely afford to fill their tanks.

The level of wicked and heartless looting and corruption going on in this govt is mind-boggling.

Only NNPC now imports fuel as most marketers can not afford to import owing to Federal govt policy on refusing them access to forex.

All marketers now buy from NNPC.

The NNPC then inflates the amount it sells to marketers and from there loot double in the form of increased subsidy payments to themselves and reconciling sale of non-existing fuel.


if you can't stand the heat leave the kitchen, the marketers keep complaining but they will never leave the business. Thieves!

11 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by TylerDurden: 9:55pm On Mar 19
Goke7:


if you can't stand the heat leave the kitchen, the marketers keep complaining but they will never leave the business. Thieves!

Is NNPC not claiming a loss in importing fuel

Have you heard of ''under recovery'' which is another way of saying subsidy

Are you aware that the CBN does not provide FOREX to independent marketers

Get sense!

3 Likes 1 Share

Re: Why We Can’t Sell Petrol At 125/litre – Marketers by osamz007: 9:59pm On Mar 19
S TUPID FELLOWS. CAN'T U MAKE LIFE EASIER FOR YOUR COUNTRY PEOPLE

TEKNO RARA

2 Likes

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