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Confusion As Petrol Marketers Fix Price At N162 A Litre - Politics - Nairaland

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Expect To Pay N195 Per Litre For Petrol, Marketers Tell Nigerians / Femi Fani-Kayode On N162 Fuel Price: Nigerians Should Expect More From Buhari / FG Releases N162.5bn SUKUK Funds For Federal Road Projects (2) (3) (4)

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Confusion As Petrol Marketers Fix Price At N162 A Litre by Racoon(m): 7:43am On Sep 03, 2020
• Marketers blame govt for chaos • Say govt still toying with subsidy
• Increase unacceptable, House minority caucus declares
• PDP describes the hike as callous, cruel, punishing
• SPN asks NLC, TUC to lead a protest


Barely two days after electricity tariff was increased by about 300 per cent, oil marketers yesterday fixed the pump price for Premium Motor Spirit (PMS), popularly called petrol, at N162 per litre. The marketers fixed the new price following the Federal government’s announcement that the product would now be sold to marketers at the depot price N151.56.

But no sooner had the government and marketers announced the new price regimes than a hail of attacks and criticism greeted them.

Among those that rejected or kicked against the hikes were the minority caucus of the House of Representatives, Peoples Democratic Party (PDP), Socialist Party of Nigeria (SPN), and Advocacy for Integrity and Economic Development (AIED).

Marketers’ new price announcement came as Petroleum Products Pricing Regulatory Agency (PPPRA), the agency expected to modulate the price monthly, failed to announce the new retail price.

They claimed the absence of the PPPRA’s template created confusion coupled with the issuance of two conflicting statements by a subsidiary of the NNPC, Petroleum Products Marketing Company (PPMC). The two statements fixing two ex-depot prices: N147.67 and N151.56.

The PPMC, in the first statement dated September 2, 2020, with reference number PPMC/IB/LS/020, notified stakeholders that the price had increased to N151.56 per litre.

The same agency, in the second statement, with reference number PPMC/MOD/SALES/346, put ex-depot price at N147.67 for petrol.

With an ex-depot price of N151.56, some marketers noted that additional charges for distribution margin, transporter allowance, retailer margin, bridging fund, marine transport as well as administration charges would push the retail price up to an average of N162 per litre, based on market fundamentals.

As of the time of filing this report, the Independent Petroleum Marketers Association of Nigeria (IPMAN) was uncertain of the price as the association’s Vice President, Abubakar Shettima, told The Guardian the situation was being weighed.

The Southwest Zonal Chairman of IPMAN, Dele Tajudeen, however, told The Guardian the association had directed its members to dispense the product at N162 per litre.

Tajudeen alleged that the NNPC had been selling to their retail outlets at different prices, bringing disparity in the system, especially for other marketers.

“This pits us against the masses. Government has been insensitive to people’s plight”, he said.Reacting to the hike, the minority caucus in the House ofRepresentatives, in a statement by its leader, Ndidu Elumelu, described price increase as unacceptable.

The caucus said the hike would worsen high cost of consumer goods and services and economic hardship suffered by Nigerians.

Elumelu said: “The minority caucus in the House of Representatives rejects the announced increase in the pump price of fuel.

“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when the majority of Nigerians, across the country, are struggling to survive under the burden of the high cost of living and low purchasing power occasioned by the prevailing economic challenges.’’

The caucus asked PPMC to revert to former price.

The Peoples Democratic Party (PDP) described the increase as callous, cruel and punishing.

The party called on the National Assembly to caution the APC Federal Government and prevent it from plunging the nation into chaos.

The party demanded reversal of the prices to avert national crisis, stating that the increase “will result in upsurge in costs of goods and services and worsen the biting hardship faced by Nigerians, who are already impoverished and grappling with high cost of living in the last five years.”

In a statement by its National Publicity Secretary, Kola Ologbondiyan, the party said increasing fuel price from N87 per litre to N151 and hiking electricity tariff from N30.23 per kwh to over N66, had left no one in doubt that APC’s agenda was to inflict pain and hardship on Nigerians to satisfy their selfish interests.

The party challenged the APC and the Buhari administration to publish parameters with which they arrived at the increase of fuel price, arguing that with the prevailing values in the international market, the appropriate price template for domestic pump price in Nigeria ought not to be above N100 per litre

SIMILARLY, Socialist Party of Nigeria (SPN) condemned the price increase.

The party, in a statement signed by its acting National Chairman, Abiodun Bamigboye, and National Secretary, Chinedu Bosah, described the increment as one too many. It called on the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), not to only issue statements but to mobilise to fight back.

It said, “SPN strongly condemns this increase and demands its immediate and unconditional reversal to pre-May 2020 price. But condemnation in words alone will not be enough, especially for an obdurately anti-poor capitalist regime which has made it clear to everyone it is desperate at offloading economic catastrophe on the heads of working class and poor Nigerians.

“We, therefore, call on the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) not to simply issue statements as it has been doing for months now, condemning in strong terms one anti-poor government policies or another without taking any serious action to mobilise to fight back, thus effectively allowing the capitalist ruling elite to condemn the masses to suffer in silence while disarming the advanced layers of the working class and youths who are rearing to fight back but need bold and militant leadership.”

Advocacy for Integrity and Economic Development (AIED) described the hike as “draconian anti-masses policy by a heartless administration.”

In a statement on Wednesday by its Director of Media and Publicity, O’Seun John, the organisation urged the Federal Government to revert to old price and tariff.

The statement read, “We received with shock the report of yet another increase in the price of petrol at the depot just two months after it was hiked.’’

A Professor of Economics, at the Babcock University, Segun Ajibola, noted that hiking prices of essential products such as electricity and petrol would worsen the standard of living and increase poverty level.

Idayat Hassan, who is the Director of the Centre for Democracy and Development (CDD), noted that the hike would undermine efforts to reduce cases of COVID-19, saying the masses would be forced to look for means of survival in the absence of palliatives from the government.

“Income has not increased but prices of basic amenities are going up at a time when people are losing jobs. It shows our government is not thinking,” she stated.

https://m.guardian.ng/news/confusion-as-petrol-marketers-fix-price-at-n162-a-litre/

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Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Arrewa: 7:44am On Sep 03, 2020
Buhari is not getting it right in the area of economy.

Here in the north his popularity and Prestige is gradually diminishing.

APC must begin to work....

2023 is around the corner!

25 Likes 4 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Leboska(m): 7:47am On Sep 03, 2020
For me I know buhari is just starting, when he won as president in 2015 I knew there will be trouble & disaster! So brace up for more calamities.

102 Likes 7 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Racoon(m): 7:48am On Sep 03, 2020
Chain change now upgraded to next level still loading.

1 Like

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Racoon(m): 7:49am On Sep 03, 2020
Arrewa:
Buhari is not getting it right in the area of economy.Here in the north his popularity and Prestige is gradually diminishing.
APC must begin to work.2023 is around the corner!
How do you expect a failure both as military &democratic dictator to perform? Abeg spare the downtrodden Nigerian masses this crap.

103 Likes 3 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by jodeci(m): 7:49am On Sep 03, 2020
The best President Nigeria has ever had,his best is yet to come,get ready.We will all face it together whether PDP or APC.

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Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Arrewa: 7:51am On Sep 03, 2020
Racoon:
Abeg spare the downtrodden Nigerian masses this crap.
shut up...!!

You that your own job is to be scouting for bad news online to post on Nairaland.

You are full of negativity!

Go and get more bad news.

Shea una aim is for people to hate buhari and Apc? Una don dey win!

This is the right time you southerners supposed to support this government.

But nooo... You are all bent in paving way for another northerner from PDP.

Now northerners are gradually hating APC because of failed promises and your media propaganda.

I wonder how a southerner will beat Atiku come 2023 election with all these failure from APC government.

And you southerners are even making things worse with your media propaganda.

Same you southerners want to present a candidate from APC and win election but bent on painting the party black.

Raccon your own is just to scouting for bad news either real or fake. You are a well know bigot on Nairaland who go about insulting the north on daily basis.

Any bad news from the north or APC is the only thing you post on this forum.

You don't post about anything happening in the south or in PDP.

I don't know if PDP is bankrolling you to do this...

I'm not a fan of buhari... But I have been seeing your comments on this forum.

You have a very strong hatred for the man and for the north in general.

Now BUHARI's government is failing and I know you are all happy.

Enjoy...

11 Likes 5 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Firespitter: 7:53am On Sep 03, 2020
There is no confusion anywhere. OP must be from wailerz avenue. That price is good. We will pay. Tankiu bamboohari.
This is the season of showing appreciation.

So my fellow countrymen, have you thanked bamboohari today? Don't be an ingrate. Begin to tank him, tank him, tank him.

24 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Racoon(m): 7:56am On Sep 03, 2020
Arrewa:
shut up...!!You that your own job is to be scouting for bad news online to ....
A bad product will always remain a bad product.The present president is a catastrophic failure & will forever remains a failure.No need shoving up a failure for what it's.

97 Likes 3 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by saaron(m): 7:59am On Sep 03, 2020
They borrowed billions of dollars in record breaking loans, more than all previous govts combined! Claimed they recoverd trillions in TSA and looted funds together with Abacha loot. Yet they increased VAT, increased electricity tarrifs, and increased price of fuel. What happens to all the monies? Change indeed.
Anyway this is a good development. Let the suffering and abject poverty increase.
The more hardship increases, the better for our cause for a Revolution. Technically speaking, there has to be widespread suffering, hardship, poverty, despire, and bitting hunger over the entire country before Revolution becomes a reality. The bloody regime is doing well in that regard.
Revolution will afford us the opportunity to redirect and restructure our countries into people led movement where all political office holders from president down to ward councilors will earn minimum wage.
DISINTEGRATION OF NIGERIA WILL SAVE MILLIONS OF LIVES FROM FULANI TERRORISM!! SUPPORT IT.

56 Likes 4 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Firespitter: 8:00am On Sep 03, 2020
Arrewa:
Buhari is not getting it right in the area of economy.

Here in the north his popularity and Prestige is gradually diminishing.

You mean North of Oshogbo abi?

We are all happy with bamboohari. Take your frustration to your pay master. We don't gaf

26 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Kondomatic(m): 8:02am On Sep 03, 2020
Our darling daddy is doing great, he's the only person that can make Nigeria great again.

4 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Firespitter: 8:05am On Sep 03, 2020
Kondomatic:
Our darling daddy is doing great, he's the only person that can make Nigeria great again.


Tankiu my friend. Dont forget to tank bamboohari every day. He is indeed god's sent.

11 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Nobody: 8:18am On Sep 03, 2020
Arrewa:
shut up...!!

You that your own job is to be scouting for bad news online to post on Nairaland.

You are full of negativity!

Go and get more bad news.

Shea una aim is for people to hate buhari and Apc? Una don dey win!

This is the right time you southerners supposed to support this government.

But nooo... You are all bent in paving way for another northerner from PDP.

Now northerners are gradually hating APC because of failed promises and your media propaganda.

I wonder how a southerner will beat Atiku come 2023 election with all these failure from APC government.

And you southerners are even making things worse with your media propaganda.

Same you southerners want to present a candidate from APC and win election but bent on painting the party black.

Politics is just not southerners.



Bros, abeg stop this southerners story pls. Haba!!! What of kind of politics? do you want a people suffering to act smiling because they want power? Despite power in the North of what value is it to an average northerner? Power to the north is the elites, which are just a small fraction of the people. South without power are doing far better. We all should tell ourselves the truth, this man has failed badly with the management of the country's economy. Have you also noticed since the removal of Ogbe there have not be any worthy initiative from the ministry of agriculture? That's exactly where he got it wrong... selecting failures..

37 Likes 2 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Arrewa: 8:19am On Sep 03, 2020
ejibaba:


Bros, abeg stop this southerners story pls. Haba!!! What of kind of politics? do you want a people suffering to act smiling because they want power? Despite power in the North of what value is it to an average northerner? Power to the north is the elites, which are just a small fraction of the people. South without power are doing far better. We all should tell ourselves the truth, this man has failed badly with the management of the country's economy. Have you also noticed since the removal of Ogbe there have not be any worthy initiative from the ministry of agriculture? That's exactly where he got it wrong... selecting failures..
stop deceiving yourself that southerners are doing far better.

Southern Nigeria especially the south east is backward and poverty is seriously hitting that region but the media won't show that.

Buhari is still by far better than Jonathan why do you all still celebrate Jonathan as a hero and hate buhari?

Stop deceiving yourselves that with power the north has not done much for their people.

With power the north is developing and growing stronger than ever before.

The insecurity in Borno is all scam.

The south need the presidency too... Especially the south west.

But painting APC black and celebrating it failure won't pave way for southern presidency.

You people are indirectly paving way for Atiku.

2 Likes 3 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by samincredible44(m): 8:21am On Sep 03, 2020
Nigeria is a country where anything goes,so this the change bubu promised his followers

1 Like

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by DEROX: 8:26am On Sep 03, 2020
Arrewa:
Buhari is not getting it right in the area of economy.

Here in the north his popularity and Prestige is gradually diminishing.

APC must begin to work....

2023 is around the corner!
am sensing that too but it will soon be fixed
Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Arrewa: 8:28am On Sep 03, 2020
DEROX:
am sensing that too but it will soon be fixed
he should do...

He has less than 1000 days in office
Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by helinues: 8:34am On Sep 03, 2020
And FG is helpless about the situation..

Shame

2 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by SpecialAdviser(m): 8:36am On Sep 03, 2020
Arrewa:
Buhari is not getting it right in the area of economy.

Here in the north his popularity and Prestige is gradually diminishing.

APC must begin to work....

2023 is around the corner!

2023 around the corner? I have seen you campaign for El Rufai. I have also seen you campaign for another northerner.

Why are you guys only thinking of a failed country like this? Why the nepotism? Why the tribalism? Why always selling a bad product?

Why why why? Why is nepotism engraved in you guys blood? Is it not time we try a good candidate that can unite this nation and take it high.

We warned you guys about Buhari. We reminded you about his failures. Bigotry and nepotism never allowed you to listen. Same nepotism making you to campaign for El Rufai.

I believe you are educated enough to rethink your stand. The earlier the better.

38 Likes 3 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Nobody: 8:41am On Sep 03, 2020
Arrewa:
stop deceiving yourself that southerners are doing far better.

Southern Nigeria especially the south east is backward and poverty is seriously hitting that region but the media won't show that.

Buhari is still by far better than Jonathan why do you all still celebrate Jonathan as a hero and hate buhari?

Stop deceiving yourselves that with power the north have not done much for their people.

With power the north is developing and growing stronger than ever before.

The insecurity in Borno is all scam.

The south need the presidency too... Especially the south west.

But painting APC back and celebrating it failure won't pave way for southern presidency.

You people are indirectly paving way for Atiku.

Tomorrow na una go still dey complain about northerners rulling Nigeria
This where you are all getting it wrong that they hate Buhari...Even in the North, there is a growing resentment of him...Pls, you people should stop pushing this narrative that a certain people hate him... If he were performing well even his enemies would like him but he is not. Continually giving his critics joy with his anti people policies and programmes... Finally, Buhari is not any better to Jonathan...Both are worst off so comparison of two bad leaders that one is better off is playing a fools game...

23 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by CoalcityBoi: 8:41am On Sep 03, 2020
Useless Government

5 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by emmabest2000(m): 8:41am On Sep 03, 2020
200naira a litre loading...

11 Likes 2 Shares

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by ojaysam25(m): 8:42am On Sep 03, 2020
Any government that comes after this buhari administration,will do nothing and still be regarded ..buhari has set the standard soooo low.

11 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Macsjebs: 8:42am On Sep 03, 2020
...

4 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by tundchip2: 8:42am On Sep 03, 2020
God dey.
Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by Finnese001: 8:42am On Sep 03, 2020
grin
Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by laosy(m): 8:42am On Sep 03, 2020
You never see anything.
Shebi una want next level and this is it grin grin

9 Likes

Re: Confusion As Petrol Marketers Fix Price At N162 A Litre by olisaEze(m): 8:42am On Sep 03, 2020
Arrewa:
Buhari is not getting it right in the area of economy.

Here in the north his popularity and Prestige is gradually diminishing.

APC must begin to work....

2023 is around the corner!

Therein lies the problem. When people believe the administration should work not for the good of the common man, but just to have bragging points for the next election cycle.

21 Likes

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