₦airaland Forum

Despite efforts by the Nigerian National Petroleum Company (NNPC) to maintain a pump price of N568-N617/litre, independent oil marketers have increased prices to N900-N1,000/litre.

In reaction, the Federal Government has vowed to shut down offending stations, citing profiteering and exploitation of Nigerians.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) claims that private depot owners are selling petrol to independent marketers at exorbitant rates, leading to high pump prices.

Spokesperson of the NMDPRA, George Ene-Ita, said the petrol price reports that the regulator gets from its officials at the depots were different.

“Our depot people see a different price because we ask them to publish the prices at the depots every day and it is not N850/litre. Our field agents at the depots give us a different figure,” he said.

Responding to reports of independent marketers in Lagos and other states selling petrol at exorbitant prices of N900 to N1,000 per litre, Ene-Ita, said the NMDPRA will take action against such outlets.

“We will shut down any filling station found selling above the approved price if we catch them,” he stated. “NNPC sets the ex-depot price for off-takers, and we work together to determine the margins. There’s no justification for prices to be that high.”

However, independent marketers argue that they are forced to buy petrol at high prices due to low supply from NNPC.

According to the marketers, the subsidized rate of around N570/litre is only available to major marketers. As a result, they then sell petrol to consumers at higher prices, ranging from N850 to N900 per litre, and up to N1,000 per litre in some remote areas.

“That is why no marketer is complaining of low margins again. This is the time for them to make money. The only issue is that getting the ptakect is not that easy,” a source told The PUNCH.

“The price is high because the supply is low. It is a matter of demand and supply. The price will continue to be up, at least for now. It Is an opportunity for the filling stations to add to their margins. This is an abnormal situation. Normalcy is restored, and the regulatory authority can monitor. Can the regulator monitor anybody now?

“Imagine when you pay about N30m to NNPC to order petrol and it takes about one month to get the product. Assuming you take N30m from a bank with this interest rate, is that not a problem?’ a marketer stated.

Source : https://politicsnigeria.com/fg-vows-action-as-independent-marketers-defy-government-sell-fuel-at-n1000-litre/

Kosiso12:
FG Vows Action as Independent Marketers Defy Government, Sell Fuel at N1,000/litre | #Politicsniger

is this how Nigeria will recover from the current economic woes ?

Kosiso12:
FG Vows Action as Independent Marketers Defy Government, Sell Fuel at N1,000/litre | #Politicsnigeria

Why are there not facing the fundamental issues

The reconstruction of nigeria will be very difficult

If this is not audio I think it's good, because I was in Abuja for the week end fuel was 660 but in Kaduna 950 why? Meanwhile nnpc is selling for 620 in kaduna but private are selling for a whole 950 some 1000 I know removal of subsidy is painful but even if subsidy is back or Dangote and nnpc starts to sell fuel this marketers will still make it expensive. I frankly think apart from Tinubu. Other politicians are doing their best to frustrate any body in power who is ruling with our them at the detriment of the people.

Let FG stop all this medicine after death palliative,we know the game that they are playing
I suspect that the FG is getting closer to what the Refinery in Lagos is requesting
When he releases the PMS later next month,you will hear things like PMS has dropped from 1000 naira to 750 naira...we know the game
Anyways what I know is that NNPCL is doing Nigerians a big disservice by selling at a so called price,creating more artificial scarcity all over the place
If you want to sell at a higher price,go ahead and stop all this hide and seek games

The moment you read FG vows; just know that nothing will be done

It's just painful

I do not understand, if subsidy has been removed then any petrol station can sell at a rate they want.

This is called the free market. Is it not what Tinubu's government wanted? You floated the Naira and removed the subsidy and still want to control the cost of goods. This is a policy somersault.

If subsidy is gone then government won't have to fix price

These Marketers na saboteur dem be

Dem wan strangle all of us but God no go gree

PBAT should put them in their place

Every politician inflicting pains, looting and stealing the wealth of the Nigerian masses shall die miserably and untimely.

passing the buck....

lets pretend like we don't know how and when this started with the useless and thoughtless declaration on swearing-in day.

CyrusVI:


These Marketers na saboteur dem be

Dem wan strangle all of us but God no go gree

PBAT should put them in their place

SUBSIDY IS GONE

Mad country with mad leaders

Tinubu with his backyard economy.

Nigeria is totally gone.

.

The people of Nigeria are responsible for the problems of Nigeria.

If you want to solve a societal problem, find out those who benefit from the problem and tackle them. Else, the problem remains.

Without Jesus, your sins are not forgiven.

Now, this is dangerous.

The question is, what are you doing about it?

I said it months ago that Dangote will never refine a drop of fuel until fuel hits 1000. Idiots doubted me. Dangote's selfishness is the reason why fuel is so costly

They all know about it.

Confusion country belongs to confuse citizens,what you see is what you get,miracle wont solve your ignorance problems🦗🦗🦗🦗🦗🦗🦗🦗

Noted.

FG ndi oshi

😆😆 Fuel will sell for 1500 before the end of Tinubu's first 4 years, and will sell for 3-4k per litre after the end of his 8 years tenure. Brace up guys. This is just th beginning of Tinubulation

Kosiso12:
Source : https://politicsnigeria.com/fg-vows-action-as-independent-marketers-defy-government-sell-fuel-at-n1000-litre/

Is this the same Tinubu FG that hiked passport fees and university fees before giving loans to a tiny minority?

Are we really 200 million mumus in this geographical area called Nigeria




https://www.youtube.com/watch?v=dMWUS1W_ITc?si=vDgX7nlYFggpaTYm

NaijaSumigan:
Every politician inflicting pains, looting and stealing the wealth of the Nigerian masses shall die miserably and untimely.

Forget that thing, their death doesn't alleviate the sufferings in anyway, stop wasting your prayers😆😆😆

Mr president complicated the hole issue by having interest in petrol import.its now nnpc major dealers against tinubu oil cabals