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Marketers Kick Against ₦5 Reduction In Petrol Pump Price - Politics - Nairaland

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Fuel Marketers Kick As FG Rules Out Price Hike / Fuel Price Hike Looms As Marketers Kick Against ₦0.5m Shipment Charge / Expected Petrol Pump Price Drops To N114.53 Per Litre (2) (3) (4)

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Marketers Kick Against ₦5 Reduction In Petrol Pump Price by dre11(m): 7:36am On Dec 09, 2020
Against the backdrop of the N5 reduction in the price of Premium Motor Spirit (petrol) announced by the Federal Government, fuel marketers have said it is not possible to sell the product at N162 per litre amid the current market realities.

The Minister of Labour and Employment, Dr Chris Ngige, had announced the petrol price cut at the end of a meeting with labour leaders which began around 9pm on Monday and ended at 1:30 am on Tuesday.

“Our discussion was fruitful and the Nigerian National Petroleum Corporation, which is the major importer and marketers of petroleum products, and customers have agreed that there will be a slide down of the pump price of PMS and that the price cut will get us about N5 per litre and that the price cut will take effect from next Monday, a week today,” he had said.

Top officials of the marketers’ associations who spoke with our correspondents on Tuesday said the price decrease had not been communicated to them, adding that they only read media reports that the government had reached an agreement with the organised labour to reduce petrol price by about N5 per litre.

The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told one of our correspondents that given the recent increase in global oil prices and the devaluation of the naira, “petrol price of N162 cannot work, except we are going back to subsidy.”

He said, “The government said it had deregulated; so, it is not possible to sell petrol at N162 on December 14. If you ask anybody now in the industry, they will tell you the price at which they can sell is about N170 to N180.

“The minister of labour does not have the power to determine the price of petrol. Even the President can only do that if we go back to subsidy.”

The National President, Petroleum Products Retail Outlets Owners Association of Nigeria, Dr Billy Gillis-Harry, said the interference by government in petrol pricing had continued to defeat the purpose of deregulation.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, had said in September that the Federal Government had stepped back in fixing the price of petrol, adding that market forces and crude oil price would determine the cost of the product.

Gillis-Harry said marketers had lost millions of naira as a result of the frequent price adjustments.

“We have no circular to confirm that price adjustment, and as far as we are concerned, we cannot say it will be implemented until we get an official communication about it,” he added.

When contacted to find out when the government would issue a circular to marketers regarding the price reduction, the Special Assistant to the Minister of State for Petroleum Resources, Mr Garba-Deen Mohammed, promised to revert, but had yet to do so as of the time of filing this report.

“We are waiting for the circular from the government. We can only implement the price reduction when we get the circular,” the Vice President, IPMAN, Mr Abubakar Maigandi, said.

The Federal Government removed petrol subsidy in March this year after reducing the pump price of petrol to N125 per litre from N145 on the back of the sharp drop in crude oil prices. The price reduction lasted till June.

Nigerians have seen increases in the pump prices of petrol four times in the past five months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August, N158-N162 in September and N163-N170 in November.


https://punchng.com/marketers-kick-against-n5-reduction-in-petrol-pump-price/

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by YoonSung69: 7:39am On Dec 09, 2020
See them

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Moferere: 7:40am On Dec 09, 2020
Independent Petroleum Marketers are big problems that we need to deal with.
If the price had been increased by N5, they would have complied immediately, even with their old stocks

28 Likes 2 Shares

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Nobody: 7:46am On Dec 09, 2020
How in the world do you intend to grow industries and employment with unguarded inflation?.. cost of running business is through the roof.

The only way out is population control..

3 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by chariisGRACE(m): 7:51am On Dec 09, 2020
The N5 reduction is as useless as the people that deduct it + the marketers kicking against it.

20 Likes 2 Shares

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Mbcus68: 7:53am On Dec 09, 2020
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Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Muhylonaire007: 7:53am On Dec 09, 2020
Wahala no dey finish for 9ja grin

5 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by elrufiason: 7:53am On Dec 09, 2020
Every one is revolting against govt insensitive decision at the detriment of the poor masses.

Naija na dog eat dog country

2 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by slawormiir: 7:54am On Dec 09, 2020
Damnnn niggarrrr
Isoright ...na them sabi

Reduction or no Reduction
The common man on the street too greedy
Them nor go reduce their price of whatever them dey sell
Especially all these commercial bus drivers

9 Likes 1 Share

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Cumtroller: 7:54am On Dec 09, 2020
Evil marketers. What goes up can never come down in Nigeria.

This country is cursed.

3 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Foolishmasses: 7:54am On Dec 09, 2020
Nigeria will just crumble one day without a notification sound from any quarter. A country where people now ask if you are sick because they see you holding milk can, is that a country?

8 Likes 2 Shares

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by OVA200(m): 7:54am On Dec 09, 2020
Imagine the fvckery

When the price is going up by 20, 30 naira all this while no qualms but now just only 5 naira decrease wahala don start, anything to better the lifes of Nigerians will always pass through baptism of fire but if it's other way round it will slip in like a small prick entering an olosho borehole.

Make dem sell this country and distribute the money to us abeg if it 500 naira that reach me I go manage am and leave to Iceland.

God should just pity and send all the suffering Nigerians straight to heaven after death because it will be fatal for someone to suffer in Nigeria and still enter hell.

Messy country.

5 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Nobody: 7:54am On Dec 09, 2020
hmmm
story story oo
I'll advice this country to look at other countries abroad to see how they manage their petrol sector... this country will never change
God help us all

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Amoto05(m): 7:54am On Dec 09, 2020
Only God knows what buhari and his team are smoking

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Nbotee(m): 7:54am On Dec 09, 2020
Both the FG and the Oil marketers are all mad....

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by MOLOTOVcockTAIL(m): 7:55am On Dec 09, 2020
Thieves
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by akinmusi(m): 7:55am On Dec 09, 2020
As expected. In Nigeria, the oil marketers have set the pace and ball rolling for inconveniency.



Meanwhile with just 3k, I will design a premium 3D logo and hyper-realistic designs for your brands.

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by kilomodemoh: 7:55am On Dec 09, 2020
No be their fault; Na govt wey no fit fix our refineries

1 Like 1 Share

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Zico5(m): 7:56am On Dec 09, 2020
Why will they not kick when in reality the president is dead. The one in Aso rock(Alsudani) is only filling the space for looters to finish their work. I heard the docile and vegetative man in Aso rock has rejected the offer to appear before the house of representatives. What a mess for the country of over 200 millions. May we never experience this kind of calamity again in our polity.

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Sunnycliff(m): 7:56am On Dec 09, 2020
Hope they won't bring back the 'so called' subsidy?
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Nobody: 7:56am On Dec 09, 2020
Na wa o...

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Veqtor: 7:59am On Dec 09, 2020
A whole oil-producing country has now been reduced to a caricature.

See other small African countries using Nigeria to catch cruise.

Buharia and his Fulani govt has turned the country into a laughing stock.

1 Like

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Favemmzar200(m): 7:59am On Dec 09, 2020
Yes na.

Na wetin dem sabi do, but if na too increase am e go be like say fire dey there yansh.


Una go kick tire, kick boxing ni
Ndi mad grin grin
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by JoeEeL(m): 8:00am On Dec 09, 2020
Nigeria's Niger oil refinery. grin

2 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by MozB: 8:06am On Dec 09, 2020
Hmmm.... Nigerians are buying petrol for almost 200bucks in 2020. Nobody would have imagined this in before 2014. Smh

2 Likes

Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by ENIGMATIC2023(m): 8:06am On Dec 09, 2020
Moferere:
Independent Petroleum Marketers are big problems that we need to deal with.
If the price had been increased by N5, they would have complied immediately, even with their old stocks

It's like you understand what deregulation means.... Government can't determine prices of petrol, it's the market forces that does that so Ngige is just deceiving the gullible labour leaders
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Seyi8750: 8:12am On Dec 09, 2020
Add the 5 naira to the current price. We go still buy am but mind you God is watching u
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by ecolime(m): 8:13am On Dec 09, 2020
Our four moribund refineries should be privatized. That's the best thing to do though painful.
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by Josywhyte: 8:21am On Dec 09, 2020
And d yeye minister is happy that he has reduced fuel price by N5? Chai....what a disgrace!
We bought fuel for 100 during Jonathan's time. See this albino president is now selling fuel at a higher price despite the global pandemic.
Wicked people
Re: Marketers Kick Against ₦5 Reduction In Petrol Pump Price by TruthinAction: 8:33am On Dec 09, 2020
APC destroyed our refineries. They were working during Jonathan's government. Useless party. Fix our refineries.

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