* Say petrol scarcity imminent, can’t restock, access loans

Petrol marketers have called for urgent intervention by the federal government to arrest the fast increase in the pump price of diesel to prevent imminent distribution crisis.

The marketers said they can no longer sustain the distribution of petrol and other products nationwide as the price of diesel used to power their trucks now sells for N1,100/litre in many locations.

The marketers, under the aegis of Natural Oil and Gas Suppliers’ Association of Nigeria (NOGASA), raised the alarm in a statement on Tuesday.

The association’s president, Mr Benneth Korie, said that diesel has witnessed incessant hike in prices in recent months, a development he said has been worsened by marketers’ inability to secure cheap bank loans that will enable them restock and sell petrol at the current pump price of N617/litre.

Korie lamented that the rapidly-rising diesel price was evidently causing hardships in haulage transportation and commuting alike.

He, therefore, called on the government to intervene before the sector gets grounded and derails the anticipated growth.

The NOGASA president assured that finding lasting solutions to the incessant hike in diesel price will be a major issue that will be addressed by the union at its annual general meeting (AGM) coming up in October.

According to him, “NOGASA is worried about the ugly development and trying to understand why prices of diesel are going as high as N950 to N1,100 per litre in the market with a view to moderating the prices and shocks in the economy.”

Experts, however, were of the view that the hike in diesel price may stem from the rise in crude oil price, which currently stands at $95 per barrel.

Another factor is the Naira slump, which is inching towards N1,000/$1 in the parallel exchange rate market.

Korie advised that the Nigerian refineries should be given emergency attention by the government to ensure rising energy cost does not murder the economy.

“We will continue to deliver on our mandate as we make progress in the oil and Gas Industry.

“We advise that suppliers should go about their respective businesses until proper resolution will be taken at the NEC meeting,” Korie stated.

https://leadership.ng/marketers-raise-alarm-as-diesel-price-hits-n1100-litre/

As I see the price this morning my mind tell me that Petrol rate get subsidy isn't realistic Anymore..

More shege promax loading. Petrol( Premium Motor Spirit) and Diesel( Automobile Gas Oil ) are all very expensive now.

Let's be patient. The refineries - Dangote and Port Harcourt - would soon commence operations. The pain will be shortlived.

those refineries will never work , it was all a gimmick to keep people quiet . they will eventually sell it off to their friends and cronies

Donaldoni:
Let's be patient. The refineries - Dangote and Port Harcourt - would soon commence operations. The pain will be shortlived.

Wahala no dey finish. Diesel trucks can't supply PMS because of high price.

onatisi:
those refineries will never work , it was all a gimmick to keep people quiet . they will eventually sell it off to their friends and cronies

Dangote Friends and cronies

Come on! Let's be optimistic for once. Local production is the only way out of our current economic crises.

Lol
Dangote is cumin

boss , i am referring to Port Harcourt and kaduna refineries , write it down , those refineries wont work

Donaldoni:


Dangote Friends and cronies

Come on! Let's be optimistic for once. Local production is the only way out of our current economic crises.

onatisi:
boss , i am referring to Port Harcourt and kaduna refineries , write it down , those refineries wont work

They will work! In Jesus' Name. Amen.

Donaldoni:


They will work! In Jesus' Name. Amen.

ok i hear . God will make it work and start producing fuel . hear

Alarmists. Everyone should calm down the drug lord is yet to finish his punishment mission.

inoki247:
As I see the price this morning my mind tell me that Petrol rate get subsidy isn't realistically Anymore..

Are you now starting to connect the dots?

Clearly, we've not been making noise cause of hate.

The PH refinery is NOT going to commence operations this year.

We tried to detail these situations to you people, you labeled us hateful and bitter. No light. No money. Dollar is sauntering towards 1K. No forex to import petrol. Diesel is over 1K. Petrol is about to hit scarcity which will equate to a price increase. Food prices will climb, concurrently.

But we who have been trying to be the realists are the ones who are the enemies of state. Issokay!

Una never see anything, a country where nothing is working except crime. We av the crude but we don’t av facilities to refine it. Giving it out to be refined and later rebuying it as dollar rate. Shege pro max….//

Which kind wahala is this bayii

Person go use 11k pay for 10 ltr diesel that won't be up to 10 liter.

Yes! They are feeling the heat more. Allow the consumers to complain and not you the marketers.

Government will not give you a dime!! Subsidy is gone. Bunch of criminals.

Just a few will see this reason.

Donaldoni:


They will work! In Jesus' Name. Amen.

This one wan use prayers repair refineries..😂

Dollar effect, this is what happens when key products that powers up to 90% of the economic are not locally sourced resulting to unnecessary inflation.

Plant yam before the rain stops.

https://www.youtube.com/watch?v=6R8fX93S1WQ

BoldBrainz:


This one wan use prayers repair refineries..😂

Just lyk people dey use prayers and centimeters vote in incompetence and latter pray for a betternation.

Where are the isonu analysts that said things things will eventually come down?

MF government. The country needs a working refinery.

Tinubu is untop the situation no need for panic
Saboteurs will be put to shame
Nigeria must succeed

Okay very good, please let it go up to 1500 or 2k per liter.
Don't forget to teach Igbo ppl politics.

The masses can't survive another Price hike, this should be looked into as a matter of urgency!

Nigeria's issue is somehow.. things always getting worse from one government to the other.

I wonder if the country is redeemable.

This country is dead, the marketers will always look for a way to increase price

Everybody calm down.
"₦1 will soon be equal to $1" ~Daddy G.O.

Up Tinubu
100 days in office.