-Say $0.35m needed to set up one CNG station

By Obas Esiedesa


MARKETERS have faulted the process followed by President Bola Tinubu in the removal of subsidies on petrol, saying measures that ought to have been in place before the removal were not taken.

The marketers insisted that the nation’s refineries ought to have been operational and issues around foreign exchange resolved before the petrol subsidy was removed.

It comes on the day fuel queues began to emerge in Abuja with most independent and indigenous major outlets shut down. Check by Vanguard around the city showed that outlets owned by A.A. Rano, AY Shafa, and Shema Petrol were shut. However stations owned by TotalEnergies, Mobil, and Conoil were opened but their pump had increased to N619 per litre from N617.

Speaking during the National Executive Council meeting of the Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, in Abuja, the marketers questioned the Federal Government’s inability to end the illicit trading of dollars in the country.

Speaking at the opening of the meeting, President, Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Mr. Billy Gillis-Harry noted that while the marketers support the decision of the government to end subsidy on petrol, the implementation was faulty.

Mr. Gillis-Harry, who was not impressed by the government push for Compressed Natural Gas as an alternative to petrol, observed that it costs about $350,000 to set one CNG station.

“Where is that money going to come from in an environment that is not stable and viable? The government needs to do more. The refineries need to work and importation needs to end”, he added.

Speaking at the meeting, NOGASA President, Mr. Benneth Korie warned that the downstream in the country was under serious pressure as stations were shutting down due harsh operational conditions.

Mr. Korie pointed out that “depot owners are so terribly affected by the increasing cost of the crude and exchange rate to the extent that many depots are practically deserted as their owners are unable to secure bank loans to fund their business due to high interest rates.

“Banks are not willing to guarantee funds release to stakeholders as a result of the difficulty, instability and galloping rates of foreign exchange and high cost of the dollar. Many depots are presently dried up or out of stock, and this is no gainsaying as it is evidently verifiable.

“Worst hit are filling stations whose owners find it extremely difficult to secure funds to procure products for their retail outlets and both the independent and major marketers are so terribly affected that as at today, filling stations are shutting down in great numbers on a daily basis and dealers are going out of business with many more on the verge of bankruptcy because of their inability to secure funds to facilitate orders for their stations.

“Government must therefore urgently come to the aid of the industry as quickly as possible to save it from an impending colossal collapse which will in turn result in a more devastating blow to the economy at large. Indeed, the success of this government highly depends on the survival of the oil industry, whose critical stakeholders are presently most negatively affected”, he added.

https://www.vanguardngr.com/2023/10/petrol-markers-fault-subsidy-removal-process-as-queues-return/

Renewed and reloaded shege promaximus upgraded
Urchins and miscreants will collect it wotoporously.

I am just tired of this kind of news coming from Nigeria. What are we doing to ourselves, for God's sakes? Are Nigerians not tired of suffering??

Sighs...no thanks to the ruling party and BAT administration!.

Octopusssy:
I am just tired of this kind of news coming from Nigeria. What are we doing to ourselves, for God's sakes? Are Nigerians not tired of suffering??

Pitiful.

Wittyness

Nigeria's biggest problem is not the political class. Our major problem is the citizenry that allows themselves to be bamboozled with tribal and religious theatrics.

For a nation with a high level of educated youths, we're too stupid and docile to be under a democratic rule. Once a section of the country produces a leader, people of that region mobilise themselves to sing "hallelujah" songs of defence for that leader, irrespective of his despicable performances.

When that happens, other voices of objective criticism are punctured and classified as "haters and wailers", yet the deteriorating state of the economy keeps crashing on the collective shoulders of everyone, tribe and religion notwithstanding.

I detest stupid and deceitful people. I may have my flaws, but I will never support a kinsman in the face of glaring incompetence or evil. And as long as we continue on this path, we'll lack, suffer and gnash our teeth in pain while we birth children who'll continue with the sorry state of affairs of our country.

I'll never for the rest of my life lend a hand of assistance to any Nigerian for free, anymore. Never!

Politics is very different from leadership. They prioritized the politics of removing subsidy above the after effect and mitigating it.

Petrol Marketers have being saying different kind of shit since subsidy was remove

Subsidy is gone for good.

Fuuu uuuck you all

We NIGERIANS are tired of hearing this type of news.

Octopusssy:
I am just tired of this kind of news coming from Nigeria. What are we doing to ourselves, for God's sakes? Are Nigerians not tired of suffering??

my dear, Nigerians are one with suffering, it is in our very nature. Aside that. We are one heck of a kind of people who see it as our birth right to genuinely cheat ourselves at any given opportunity.

No government can save us from the impending doom that is coming for us all, only we can save ourselves.

It is getting tougher

Noticed it too

Never give up

Honestly, I wish I cared... I really don't give a flying fvck anymore.


Let the financially strongest survive! Next!!!

Was Tinubu overhyped?

Nothing is different from the old order

Infact it is even worse

Reno Omokri and Tinubu supporters won't come here now and fight for Nigerians who are actually going through the pains of the consequences of Tinubu's decisions...

If it is to fight others who are telling them truth about Tinubu they will be everywhere.

When politics becomes more important than governance this is what you get.

Is black man a curse to humanity? Yet we still insult Americans and Europe. Common petrol to refine and distribute, we still dangling

Subsidy is a scam. This marketers are the same set of people involved in subsidy scam, hoarding of petroleum products, and transborder selling of petroleum products to enrich their pockets.

-Say $0.35m needed to set up one CNG station



https://www.vanguardngr.com/2023/10/petrol-markers-fault-subsidy-removal-process-as-queues-return/[/quote]

TemplarLandry:

What’s the meaning of this statement

Nigerians problem is tribalism not politicians . come to Ghana and see how all their tribes are living happily in unity . with this the country is moving peacefully. Nigerians try and change your mindsets and see how things will get better.

I WAN BE PRESIDENT, NOW SEE

xantruu:
May God help us

God don abandon us

APCheats...

ATEAMS:
Never give up

BoldBrainz:
Nigeria's biggest problem is not the political class. Our major problem is the citizenry that allows themselves to be bamboozled with tribal and religious theatrics.

For a nation with a high level of educated youths, we're too stupid and docile to be under a democratic rule. Once a section of the country produces a leader, people of that region mobilise themselves to sing "hallelujah" songs of defence for that leader, irrespective of his despicable performances.

When that happens, other voices of objective criticism are punctured and classified as "haters and wailers", yet the deteriorating state of the economy keeps crashing on the collective shoulders of everyone, tribe and religion notwithstanding.

I detest stupid and deceitful people. I may have my flaws, but I will never support a kinsman in the face of glaring incompetence or evil. And as long as we continue on this path, we'll lack, suffer and gnash our teeth in pain while we birth children who'll continue with the sorry state of affairs of our country.

I'll never for the rest of my life lend a hand of assistance to any Nigerian for free, anymore. Never!

Wittyness.

Panic buying go soon start for Lagos wahala for e-hailing drivers

This is the CAN YOU SURVIVE AGAINST ALL ODD stage. God will see us through.

On your marks, set, go...

Oya bulabans come and defend the forger/identity thief or blame Obi