Independent marketers of Premium Motor Spirit, popularly called petrol, are getting set to shut down operations beginning from Monday once the government starts the enforcement of N195/litre pump price.

It was gathered on Saturday that the Nigerian National Petroleum Company Limited, Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, security agencies and the downstream regulator had all agreed that petrol be sold at N195/litre.

Oil marketers said the agreement was reached at a meeting in Abuja on Tuesday, as participants resolved that beginning from Monday, February 6, 2023, the pump price of petrol should not exceed N195/litre, a development which dealers, particularly independent marketers, described as tough due to the high ex-depot price of the commodity.

They told our correspondent that to avoid having their outlets sanctioned, many filling stations operated by independent marketers would be shut from Monday as it made no business sense to sell a product lower than the cost price.


This is likely to further prolong the petrol scarcity and queues in many parts of the country as independent marketers control about 80 per cent of filling stations nationwide.

IPMAN’s National President, Debo Ahmed, told our correspondent that the approved ex-depot price of petrol was recently raised from N148/litre by the NNPCL to N172/litre, but depots hardly dispense the commodity at this cost.

Ahmed, who was reacting to the notice to members issued by the Public Relations Officer, IPMAN Ibadan Depot branch, Mojeed Adesope, stated that marketers were advised to sell the product in stock now before the enforcement begins on Monday.

In the memo, which was sighted on Saturday, Adesope said, “The top management of NNPC, other relevant authorities in the downstream sector of the economy as well as all the security agents in the country met at on Tuesday, January 31, 2023 to begin the enforcement of pump price of PMS at N195/litre at all the filling stations across the country with Immediate effect.

“Towards that end, enforcement will commence effective from Monday, February 6, 2023 to enable you to dispose of all your remaining stock on or before the enforcement date.

“Members are hereby implored not to purchase products that they would not be able to dispense at N195/litre. The above information should be given wider spread/circulation in order not to get any member caught unawares. You are strongly advised to heed this information.”

Commenting on this, the national president of IPMAN said the information was in order as he urged other independent marketers to take note.

Ahmed stated, “The information is in order, because the depots that the NNPC gives products to are selling at a higher price, and IPMAN members will not like to leave their stations idle. And to avoid sanctions, it is better to close your station.

“So what is going to happen in essence is that marketers have to buy products using the NNPCL loading tickets, and if they don’t have the tickets, all they have to do is to close down their stations. You have to buy from the NNPCL in order to sell at the government regulated price.”

He said the NNPCL was the only importer and it often gave the product to DAPPMAN to sell to IPMAN members at a regulated rate.


Ahmed added, “They also give the product to MOMAN to sell through the stations of major marketers, but DAPPMAN has to sell to independent marketers because independent marketers do not have depots.

“The 21 NNPCL depots across the country that we rely on before now are all moribund and not working. So right now, we depend on DAPPMAN depots to get our products at the price approved by the NNPCL.

“But most times, DAPPMAN would increase their price and when you buy from them at such a high price, there is no way you are going to sell at a lower price. So, that memo is telling marketers that if they cannot get the NNPCL product to buy at the controlled price, they better not sell to avoid having their stations sealed.”

When asked for the approved price that the government, through the NNPCL, had asked depot owners to sell, Ahmed replied, “In fact, there is a lot of confusion.

“As of today, we are supposed to buy at N172/litre from the NNPCL designated depots run by DAPPMAN. But if you get there at times, you don’t buy at that price; rather, you buy at higher rates.

“Before it was N148/litre, but all of a sudden, the NNPCL just did what it did and increased the price to N172/litre, which was why they said the retail price should now be N185/litre.”

He explained that the N172 ex-depot price was without the cost of conveying petrol to wherever the marketer was taking the product to.

“If you are taking it further than 400 kilometres from the place of purchase, you are going to get the bridging claims or price equalisation. But if you are taking it within 120 kilometres or around that distance, you will get some little allowance to make you sell at a controlled price.

“But, the truth is that we don’t get the product at the controlled price of N172, which is why you see a lot of areas where they sell at higher prices.

“However, for MOMAN, because they get it at the controlled price, they take it from their depots to their stations and sell it at lower prices compared to independent marketers. Mind you, independent marketers control about 80 per cent of retail outlets in Nigeria.”

In Lagos, most of the outlets that sold the product on Saturday had long queues of desperate motorists, with some selling for between N280 and N350 per litre.

A similar situation was prevalent in Ogun State, where motorists struggled to get petrol from the few filling stations that had the product. Some stations on the Lagos-Ibadan Expressway sold the product for between N320 and N380 per litre.


A commercial motorist, Idris Adewale, said he had banked on getting petrol at the Nipco filling station at Magboro for N195 per litre, but was disappointed to discover that the station was under lock and key. He also claimed that the Rainoil station at Ibafo did not sell the product and he only succeeded in filling his vehicle’s tank before the Sagamu interchange for N340 per litre.

A desperate motorist, Nnamdi Goodman, claimed to have bought 10 litres for N7,000 on Airport Road in Lagos on Saturday.

“The situation is very serious now. [s]I bought 10 litres of petrol from a black marketer on the Airport Road in Lagos on Saturday morning. That’s N700 per litre! I don’t think I can keep going like this, otherwise I will spend all my salary and savings on fuel alone,” he lamented.[/s][/i]

In the Federal Capital Territory, many filling stations belonging to independent marketers were shut on Saturday due to lack of products to dispense, while the few ones that sold petrol dispensed it above N195/litre.

At the Khalif Civic Oil & Investment Limited filling station located in Kubwa, a suburb of Abuja, petrol was dispensed at N300/litre, while many others in obscure locations in the capital city sold above N300.

However, the few outlets of the major oil marketers and the NNPCL that sold petrol on Saturday dispensed it at the approved N195/litre pump price. But many mega stations were not open for business due to lack of products to sell.

Eterna, Gegu Oil, Sunset Energy and MRS, among others, located on the Kubwa-Zuba Expressway, were not selling the product.

Also, Major Oil filling station on Airport Road, and the NNPC filling station on Arab Road, Kubwa, did not dispense the product as they were all shut.

However, the queues in the few outlets such as Salbas around Zuba, and Conoil in the Central Business District were not too long as the preceding day due to the fact that most residents stayed indoors for the weekend.

On Thursday, the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, and the Group Chief Executive Officer, NNPC Limited, Mele Kyari, disclosed that several measures were being taken to enforce the approved price of petrol and to stop the diversion of the product.

The NMDPRA boss, while speaking on sanctions against downstream operators who flouted the approved regulations, stated that over 270 filling stations and seven depots had been closed down.

“On top of shutting the depots, we also shut down over 270 retail outlets. We are doing our work and this has brought some respite in some areas,” Ahmed stated.

On his part, Kyari said the Federal Government was now deploying operatives of the Department of State Services to monitor tankers conveying petrol to filling stations in order to halt the diversion and smuggling of the product.

He stated that already, [i]over 120 DSS officers had been deployed to follow fuel tankers to the various retail outlets in Abuja, as more security agencies were being drafted for the exercise for nationwide coverage.

“So much is going on; there are government security interventions. I know the kind of work that we do with the security agencies; for instance, in Abuja alone, we have over 120 DSS officers following every truck to fuel stations and we are activating this across the country,” Kyari said.

Meanwhile, the Chairman, IPMAN, Enugu Depot Community in charge of Anambra, Ebonyi and Enugu states, Mr Chinedu Anyaso, has said the prevailing shortage in the supply of PMS in the South-East may not end soon because of the challenges facing marketers in procuring the product.


He said this in an interview with the News Agency of Nigeria in Awka on Saturday.

NAN reports that petrol now sells for between N400 and N450 per litre and between N500 and N600 in the black market in Awka, Anambra State.

As of Saturday, most filling stations in the city were closed for lack of petrol, while the few that had the product were selling at very high prices with long queues of motorists.

Anyaso said the quantity of the product coming to the South-East had reduced by more than 50 per cent compared to the supply in normal time.

According to him, at the moment, nothing suggests the easing of the problems as some of the marketers have yet to get supplies they paid for over a month ago, except the Federal Government takes a drastic action to flood the country with the product.

Anyaso stated, “Our members, who got NNPC allocation last year, paid for the product since December, up till now they have not received their supply; rather, they asked them to pay additional money for which most of them made overdraft of between N1.4m and N1.6m.

“As you can see, most filling stations in the zone have shut down because they can no longer source petrol normally, those that have, pay through their nose to get it; that is why there are abnormal rates because they have to recover their cost and make some profits.

“It is impossible for the authorities to enforce price now; our people are making extra effort to ensure that we have the product to buy even if it is expensive.”

Anyaso said in addition to the hardship the people were facing as a result of scarcity and high prices, thousands of workers stood to lose their jobs if the problems persisted as no marketer would continue to pay workers when they were not in business.

Source: https://punchng.com/N195-enforcement-Fuel-marketers-plan-shutdown-Monday

Parting gift from Hon Minister of Petroleum and President of Federal Republic of Nigeria... Buhari

Kai Buhari has really ruined ruined everything

IPMAN is made up of greedy bastards. If they had their way fuel will be selling for N2000 per litre, even if they buy from the depot at N174 per litre.

Let them close, we will not die.

More constriction on the already suffocating citizens.

Kai

There was a little protest demonstration in Edo and Delta states recently and as the suffering is touching people, the protest will increase to other states...


The president is the petroleum minister and he's completely unaware of the scarcity and increment of the PMS pump price.


Why should we be suffering in this country when we're blessed with natural resources?


We even have the most wanted resources in the world, Lithium and we are still suffering?


And some people want to vote another calamity and put over 200milion people into another 8yrs of complete Bu La Bla.

If you vote apc after this anarchy they brought on us then you should consider yourself an enemy of this country.

olgaa14:
If you vote apc after this anarchy they brought on us then should consider yourself an enemy of this country.

Abeg you people should shut up about this APC idiocy. Only Nigerians I know will see A to consistently claim it is B because they are as dishonest and deceitful as the leaders they love indicting of misrule.

What exactly is "APC" about Buhari and a crew, now labeled Aso rock cabal, hijacking power, ostracising others and refusing to consult or carry the wider APC along before they do things?

What is shown below is still APC ba with the APC-led FG, at a very volatile time for Nigeria, hosting a confrontational, incendiary and unhelpful stance in contrast to Tinubu's sensible suggestion ?

In civilized countries, with sophisticated voters, they call that a rogue and compromised government and not a ruling Party.

Tinubu, who is believed to be seeking to contest the 2023 presidential election, said these in a statement on Saturday.

According to him open grazing is no longer tenable and he suggested that herdsmen should be assisted to transit to modern method of doing their business to increase their profits and to boost food production in the country.

If followed, Tinubu said, the suggestion would also address the problem of killing and destruction of property which had been on the increase in the recent times .

JASONjnr:
There was a little protest demonstration in Edo and Delta states recently and as the suffering is touching people, the protest will increase to other states...


The president is the petroleum minister and he's completely unaware of the scarcity and increment of the PMS pump price.


Why should we be suffering in this country when we're blessed with natural resources?


We even have the most wanted resources in the world, Vibranium and we are still suffering?


And some people want to vote another calamity and put over 200milion people into another 8yrs of complete Bu La Bla.

When I read this sort of post I know I am viewing the utterance of a self-destructive person.

With all that is being revealed every Nigerian still decent at heart, and capable of critical thinking, know only Tinubu has the capacity to battle and defeat the entrenched forces determined to keep issues business-as-usual for their private benefit and continous detriment of ordinary Nigerians.

Atiku is simply more-of-the-same and the coward Obi is minus one. This is not his level. While Obi and Atiku hid, Tinubu boldly called out Buhari and the cabal in Aso Rock to put them on notice that Nigeria is bigger than them.

Tinubu is also telling them uncompromisingly that no one made them God over Nigeria's direction or vested in them the power to determine who becomes or does not become President of Nigeria.

You guys should shun bigotry and see what is staring you korokoro in your face. It is not just to shout that your candidate must win.

It is mainly about recognizing, from verified history, what your candidate has the character, talent and capacity to do in office.

Dsalvo:


Abeg you people should shut up about this APC idiocy. Only Nigerians I know will see A to consistently claim it is B because they are as dishonest and deceitful as the leaders they love indicting of misrule.

What exactly is "APC" about Buhari and a crew, now labeled Aso rock cabal, hijacking power, ostracising others and refusing to consult or carry the wider APC along before they do things?

What is shown below is still APC ba with the APC-led FG, at a very volatile time for Nigeria, hosting a confrontational, incendiary and unhelpful stance in contrast to Tinubu's sensible suggestion ?

In civilized countries, with sophisticated voters, they call that a rogue and compromised government and not a ruling Party.

How can you be struggling to access petrol,cash and baisc things and still have the guts to spew this trash,basically you saying we
Should help apc fight the cabal that only apc insiders know about and still leave apc in power...the idiocy is on you. I think you should use your brain more.

When scarcity was rife during Abacha regime, he directed soldiers to man each NNPC truck, drive it down to fuel stations and ensured they sell at regulated price. Scarcity that lingered for weeks disappeared in a few days. Those independent marketers have coconut head, they are ready to squeeze every penny out of Nigerians for their greed, they prefer diverting the products to neighbouring countries at high price than distribute within the country despite still collecting subsidy. 120 DSS isn't sufficient enough to deal with those greedy miscreants, atleast 300 DSS should be deployed

Not surprised...the subsidy cannot cover the losses being sustained in selling fuel that was brought in above N500 per liter.

The 21 NNPCL depots across the country that we rely on before now are all moribund and not working. So right now, we depend on DAPPMAN depots to get our products at the price approved by the NNPCL.

“But most times, DAPPMAN would increase their price and when you buy from them at such a high price, there is no way you are going to sell at a lower price. So, that memo is telling marketers that if they cannot get the NNPCL product to buy at the controlled price, they better not sell to avoid having their stations sealed.”

When asked for the approved price that the government, through the NNPCL, had asked depot owners to sell, Ahmed replied, “In fact, there is a lot of confusion.

“As of today, we are supposed to buy at N172/litre from the NNPCL designated depots run by DAPPMAN. But if you get there at times, you don’t buy at that price; rather, you buy at higher rates.

“Before it was N148/litre, but all of a sudden, the NNPCL just did what it did and increased the price to N172/litre, which was why they said the retail price should now be N185/litre.”

He explained that the N172 ex-depot price was without the cost of conveying petrol to wherever the marketer was taking the product to.

“If you are taking it further than 400 kilometres from the place of purchase, you are going to get the bridging claims or price equalisation. But if you are taking it within 120 kilometres or around that distance, you will get some little allowance to make you sell at a controlled price.

“But, the truth is that we don’t get the product at the controlled price of N172, which is why you see a lot of areas where they sell at higher prices.

“However, for MOMAN, because they get it at the controlled price, they take it from their depots to their stations and sell it at lower prices compared to independent marketers. Mind you, independent marketers control about 80 per cent of retail outlets in Nigeria.”

So in short

1.NNPC depots no longer have fuel...simply because NNPC cannot sustain subsidising fuel below its production cost.

2. The independent marketers who own depots...are buying at a higher price than the N172 EX-Depot price...because NNPC cannot sustain subsidy price without losing too much money.

3.Independent marketers cannot sustain selling fuel at a loss..because they are buying fuel from independent depots above N200 if not more.

4.At the end scarcity results.

Therein lies the issue...subsidy cannot cover the difference between the cost price and the market price....which is why we are here.

Either government finds more money....or removes subsidy and ends the whole nonsense.

This drama is unnecessary in a deregulated market

When a leader does not have a firm grip and everyone sees his weak body language this is the result, nobody is taking this president seriously again as they had seen its just talk and no action, just 3 months to go he want to start acting like James bond,

Putindbutt:
When scarcity was rife during Abacha regime, he directed soldiers to man each NNPC truck, drive it down to fuel stations and ensured they sell at regulated price. Scarcity that lingered for weeks disappeared in a few days. Those independent marketers have coconut head, they are ready to squeeze every penny out of Nigerians for their greed, they prefer diverting the products to neighbouring countries at high price than distribute within the country despite still collecting subsidy. 120 DSS is sufficient enough to deal with those greedy miscreants, atleast 300 DSS should be deployed

LOL...if you were in business, would you sell at a loss to help the poor?

At the end, the problem arises from the fact that we are selling at N195, what costs above N500 per liter to bring in...and that is before we bring in transport costs.

Abacha did all that, yet when he died, fuel queues were still a way of life...because like most Nigerian leaders, he avoided facing the truth of deregulation being the answer (He also increased fuel prices three times...to allow for the subsidy to cover things without causing scarcity)

Even if Buhari or anyone does what Abacha does...they can do nothing about the actual market price of fuel. That one is beyond their control.

JASONjnr:
There was a little protest demonstration in Edo and Delta states recently and as the suffering is touching people, the protest will increase to other states...


The president is the petroleum minister and he's completely unaware of the scarcity and increment of the PMS pump price.


Why should we be suffering in this country when we're blessed with natural resources?


We even have the most wanted resources in the world, Vibranium and we are still suffering?


And some people want to vote another calamity and put over 200milion people into another 8yrs of complete Bu La Bla.

Well, whoever we vote in, subsidy is no longer sustainable...and yes, god forbid BAT thing.

And peace be upon you for what you patiently endured. Goodness is coming. Ayo' nbo

FGN battling multiple battles at the same time..

Buhari failed in every aspect as a president.

Someone said, let them close, we will not die😂

God, they waited until elections were so close to unleash. .

More problem and suffering to the poor masses God.
Join our free telegram group for your free sure odds, check my signature for contact.

If dey wanna strike make dem decide early before I leave home tomorrow. I don’t like stress please

Futile approach

FG is Honestly Treating These Heartless Marketers With Kids Clove

Is the Government still subsidising it at a rate the Marketers will be able to sell at ₦195?

If the fuel marketers are buying for more than ₦195, they won't want to sell at a loss

NNPCL needs to shut down independent marketers to maintain monopoly status, the irony of it all is that at the end of the day NNPCL will sell above N400 at it own stations, this was always the plan.
To be the sole importer and distributor of petroleum products in Nigeria and beyond.

Fuel was N65 now N195 seems a good price...

Anyone voting APC is really your true enemy and also enemy of the state...

Thank God I quickly japa to the Uk through the student route!! Na make I find way secure my pali remain. God it’s on you..! No going back to that Nation Nigeria.

Antoeni:
FG is Honestly Treating These Heartless Marketers With Kids Clove

Misinformed you are, the marketers were never the problem, NNPC is.

Oil marketer are the major problem we have in this country... How long will this continue?