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Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder (8838 Views)

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Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Islie: 8:49am On Nov 24
…Queues resurface in Lagos


Apparently preparing Nigerians for a full deregulation regime, depot owners and some petrol marketers have again put the nation in another panic mode by hoarding available products in a push to ensure prices are adjusted to meet their operating expenses.

With products hoarded, fuel queues have emerged, forcing many motorists to engage in panic-buying, just as many retail outlets, especially those owned by independent marketers selling above the regulated price.

Long queues were witnessed in many parts of Lagos, yesterday, with the situation apparently worse on Ikorodu road, Maryland, Ikeja, Anthony, Bariga, Ilupeju and Gbagada areas as motorists become agitated after spending hours on queues.

The development left commuters stranded with traffic jams in major areas in Lagos as motorists struggled to get the product. Indeed, only retail stations owned by Major Oil Marketers Association of Nigeria (MOMAN) are dispensing products and selling at regulated price of N170 per litre, while some stations owned by Independent Petroleum Marketers Association of Nigeria (IPMAN) sell between N200 and N210 respectively.

The Guardian had reported marketers’ concerns about the sustainability of the present regulated pump price of petrol. In October, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, had promised that fuel queues will soon disappear, saying that stakeholders are meeting to find a lasting solution to all the issues that have been raised.

The Authority chief dispelled rumour of stock out, saying, “There is no truth to that at all. Although there may be some issues, unavailability of PMS is certainly not one of them. There is enough that can last more than 20 days. We have agreed that loading of PMS should start immediately and I can confirm that this has started. The queues will disappear in a matter of a few days.”

However, his promises and assertions appear to be far from present realities. In his reaction, the National Operations Controller, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mike Osatuyi blamed the scarcity on the private depots and the increasing difficulty in accessing petroleum products.

Osatuyi said that those that have to sell have had to go the ‘extra mile’ to get supply to their filling stations. He explained that at the moment, most lPMAN members cannot source the commodity because of the supply shortage that has lingered.

Besides, he said getting petrol to members’ filling stations from the depots now costs as much as N200 per litre in some instances. “It is a sad development. Some of my members now pay as much as N200 per litre to buy petrol from the depot, including the cost of transportation and other charges incurred. So in this situation, how much do you think we will sell petrol at the pump?”

He maintained that the fuel situation is not likely to ease unless the government finds a lasting solution to the supply issues and cost.

According to him, one way to address this is the implementation of total deregulation of the downstream sector of the oil industry.

“Total deregulation remains the best solution to ending fuel scarcity. The deregulation of the downstream sector remains the only potent and lasting solution to this scarcity.

“But the cost implication of the policy will make the price of petrol too expensive for Nigerians, as deregulation will shift the burden from the government to users of the product,” Osatuyi said. He said that payment of subsidy is no longer sustainable, urging Nigerians to face the reality now to avoid the unpalatable experiences that is usually the fallout of scarcity.

A supervisor in one of the MOMAN member-companies, told The Guardian that the company has loaded trucks from its depot, adding that major marketers have products and are selling at the regulated price.

Earlier, the Chairman, Independent Petroleum Marketers Association of Nigeria (IPMAN) Western zone, Dele Tajudeen said there has been an increase in depot price from N148.7 per litre to N178, even as some stakeholders told The Guardian that the Nigerian National Petroleum Company Limited (NNPCL) is starving government-owned depots as well as some marketers from loading, while diverting products to some private depots.

The stakeholders also told The Guardian that the state oil company is heavily indebted to some operators even as logistics challenges are compounding the situation.

Tajudeen stated that none of the Nigerian National Petroleum Company Ltd. (NNPCL) depots have products and the private depots took advantage of the situation to hike the price.

“The only option for our members is to opt for private depots to keep our business moving. We are totally against the increase because it will affect our profit margins and the masses. Some private depots that have products deliberately refuse to sell for reasons best known to them,” he said.

The IPMAN chairman said that the marketers should not be blamed for the increase in pump price, adding “selling at N170 per litre is not realistic”.

Tajudeen said, “Therefore, our members have no other option than to sell between N195 and N200 per litre within Lagos, Ogun and Oyo states, while we will sell between N200 and N210 in Kwara, Ondo, Osun and Ekiti states.

“Most of the tank farm owners have justified this increase because of different charges, among which is vessel charges paid in dollars.

“We are equally calling on the management of the Nigerian National Petroleum Company Ltd. (NNPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to investigate the arbitrary increase in fuel price by the private depot owners.”



https://guardian.ng/business-services/depots-marketers-subtly-push-for-fuel-price-increment-as-scarcity-bites-harder/

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Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Candidlady(f): 8:49am On Nov 24
sad

Lagos the overrated state

10 Likes 2 Shares

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by YOUTUBE9ja(m): 10:14am On Nov 24
Hmmmm things are getting serious





Anyway, are you a struggling naija YouTuber? Checkout my profile for the thread

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Opinedecandid(m): 10:15am On Nov 24
I'm not surprised.
I would have been dissapointed if Buhari dissapointed me.

Sai Babu.

13 Likes 3 Shares

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by id4sho(m): 10:15am On Nov 24
sad
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Rapture4real(m): 10:15am On Nov 24
This always happens during Christmas period.

3 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Skankamola: 10:15am On Nov 24
Normal thing as expected...fuels hits N500/L before dangote goes live.

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Mozegee: 10:15am On Nov 24
And some fools are supporting this useless government that derived joy in seeing their citizens suffer.

7 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by ATEAMS: 10:16am On Nov 24
Sapa promaxx loading

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by IFSHR: 10:16am On Nov 24
A half plot of land with a uncompleted 3 bedroom flat on the land is available for sale at elejina town, in adamo ikorodu for 6m asking price : Direct from owner : daniellesecrets19@gmail.com

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by volar9177: 10:16am On Nov 24
5t

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Jestin: 10:17am On Nov 24
If we are still exporting crude oil to be refined in a foreign land at this jet age, then Nigeria is irredeemable

14 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by CyberHustle: 10:17am On Nov 24
Gradually moving towards subsidy-less hardship. APC PDP and LP have no solution for what is loading underground.

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by ThatsONYI: 10:17am On Nov 24
shocked


We're our own problem, tufia!
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by GorillaApp(m): 10:17am On Nov 24
How can a man who grows vegetables in his compound in abundance be buying from his faraway neighbors and also suffering the pangs of instability in sourcing and transporting the goods to his kitchen when there is an overgrowth of vegetables in his backyard?
Who actually placed a curse on this country? Who did Nigeria offend as a country in her previous life as a nation?

Why are our rulers so wicked and demonically evil and always rejoice when they masses groan

The average Nigerian is wired to be heartless and selfish (self-centred).
Once I leave this country, I can never be a friend to any Nigerian.

9 Likes 2 Shares

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Itisallright: 10:17am On Nov 24
undecided
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Lovenorth: 10:18am On Nov 24
This useless government should please go ahead and remove this so-called subsidy and allow us to have a free air. We are tired of this scam

4 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by ivandragon: 10:19am On Nov 24
Hmm...

By December, Nigerians will be paying over N200 p/l officially.

Then APC will campaign about how there has never been fuel scarcity in December under their watch...

1 Like 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by KennethEnyi(m): 10:21am On Nov 24
Useless country
Nigeria will never prosper
God punish federal republic of evil flying monkeys in aso rock seeking to destroy the lives of everyone unfortunate enough to be born Nigerian sad

2 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by emmanuelbrown26: 10:21am On Nov 24
Beautiful!!!!!
Up buhari!!!
Up APC!!!!!
ABEG MAK BABA TINUBU WIN SO THAT MISSION GO DEY WELL ACCOMPLISHED.
ANYBODY WEY TIRE SHOULD GO AND HUG D TRANSFORMER, I'M ENJOYING DIS GOVT JARE

2 Likes

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by ShoeWorld2(m): 10:22am On Nov 24
Fuel is already 240/litre. Are they pushing it up to what level? We're not feeling the impact of fuel subsidy again.



I sell beautiful sneakers at affordable prices

1 Like

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by abacusCm(m): 10:22am On Nov 24
Candidlady:
sad

Lagos the overrated state
LIKE YOUR STATE
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by YeyeGbami: 10:23am On Nov 24
We dead
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by emmanuelbrown26: 10:25am On Nov 24
brentforde:
And some fools are supporting this useless government that derived joy in seeing their citizens suffer
Yes ohhhhhh, I am enjoying d show jare, no matter how rough and tough d jungle dey, lion no fit chop grass

4 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by emmanuelbrown26: 10:26am On Nov 24
abacusCm:
LIKE YOUR STATE
Are u not enjoying d show as en dey go? Me I dey enjoy am wella
Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by MasterJayJay: 10:28am On Nov 24
I bought fuel yesterday at 250 Naira per litre in Aba.

I guess APC members are buying theirs at 85 Naira per litre.

The urchins think they are immune from the collective maladministration of their Buhari, their savior. And they are pushing for another version, Babablu Bluublu bulabu to be president.

7 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by Octopusssy(f): 10:30am On Nov 24
All these are stories which is of no interest to the common man. What the fvck is the government doing to end this bullshit in the shortest possible time? That's all we are interested in.

I think it is high time Nigerians down tools. Let everything kuku shut down because I'm just fed up. We can't continue like this

2 Likes 1 Share

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by ZombieSlayer1: 10:30am On Nov 24
I've been buying fuel say 250 a litre while the government is claiming they're paying subsidy.

Any idiot that plans to vote APC, may your hand be paralysed 1 day before the election and may the hand recover 1 day after the election.
Amen

7 Likes 2 Shares

Re: Depots, Marketers Subtly Push For Fuel Price Increment As Scarcity Bites Harder by headboyprince(m): 10:34am On Nov 24
ZombieSlayer1:
I've been buying fuel say 250 a litre while the government is claiming they're paying subsidy.

Any idiot that plans to vote APC, may your hand be paralysed 1 day before the election and may the hand recover 1 day after the election.
Amen
I say a very big amen to that. but may the hand never recover so they wont cause mayhem after elections like their Lord Bubu did after losing in 2011grin

6 Likes 1 Share

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