By reducing the ex-depot price of petrol without announcing a new price band for the commodity at filling stations, the Federal Government through its agencies is trying to set marketers against the buying public, oil dealers have said.

Last week, the Nigerian National Petroleum Corporation announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108 per litre, without saying anything about the pump price at filling stations.

The NNPC is not the agency responsible for petroleum products pricing, although it has remained the major importer of petrol into Nigeria.

The Petroleum Products Pricing Regulatory Agency is the organisation responsible for products pricing but it has remained silent on the cost of petrol even after the NNPC reduced the commodity’s ex-depot price.

The PPPRA had earlier promised to be carrying out a monthly price review for the PMS but has failed to do so since the beginning of May.

When contacted on Tuesday on why marketers had yet to reduce the cost of petrol from N125 per litre despite the reduced ex-depot price of N108 per litre, the National President, Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, told our correspondent that it was not the fault of marketers.

He said, “When a government organisation reduces the ex-depot price and you are not telling the buying public the approved band for the pump price at filling stations, you are trying to put us the retail outlet owners against the Nigerian public.

“The Nigerian public will now be saying that why are we still selling at N123.5 and N125 per litre when the ex-depot price has been reduced?”

He added, “Since there is no selling band to show the approved lower and higher rates, it could mean that the NNPC, based on its recently announced N108 per litre price, is now leaving the band in the hands of marketers. But it is not our call to determine the band.”

Gillis-Harry, however, noted that many retail outlets still had some old stock and would have to dispense the products completely before adopting a new petrol pump price, if any.

“Don’t forget that the N108 is not automatic, it was N113 before and all the stock purchased at that rate has not been exhausted. So these are some for the things that need to be cleared,” he stated.

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On whether oil marketers had met with the PPPRA on these concerns, the PETROAN president replied, “Yes we are engaging with them because we don’t want our members to fall short of the law.

“They gave us an ex-depot price of N108 per litre but there is no corresponding price band. I spoke to the executive secretary of the PPPRA yesterday and up till now, there is no other development than what I’ve told you.”

Source: https://punchng.com/petrol-price-fg-setting-us-against-nigerians-marketers-say/

Welcome to the world.
Select difficulty:
-Easy -Medium -Hard -Nigeria

Hmm, why do I say

FTC

that is for people that have cars we that are using legediz benz for now wont have problem with you

valentineuwakwe:


He said, “When a government organisation reduces the ex-depot price and you are not telling the buying public the approved band for the pump price at filling stations, you are trying to put us the retail outlet owners against the Nigerian public.
Source: https://punchng.com/petrol-price-fg-setting-us-against-nigerians-marketers-say/

Noted
You're justified

I hope the FG would do the needful without any delay

Ok

Mumi

FTC, greedy guy. 8:09am

MadeInTokyo:

Greedy marketers

What does it cost the government to give pump price even though I'm sure if the price was increased marketers won't wait for government to declare pump price

Can anything good ever comes out of this government? If federal government can't maintain inter personal relationship with the marketers at this crucial period then where is hope for the common citizens. The very government we trusted to lead us out of hardships is the one making it hard for the citizens to maintain a good life.

Make a no difference to me

You too reduce the price well..... Una get una own for body too

We are watching....

Yen yen yen

But if oil prices increase you marketers would be the first to enforce the price before the FG says so

How are people earning low income coping during this period of lockdown with transportation fare.

Once you are two on a seat, you are automatically paying double fares.

Sincerely this isn't fair. Assuming the NURTW were not allowed to operate or they are giving the transporters a subsidize rate of ticket fee with federal government reducing fuel to the barest minimum, it is a win-win situation for all.


But here we are, suffering and smiling.
Lagos state government should biko look into this poo. We can't be earning a stipend and using all for tfare

Thank God for solar. I no dey even remember say filling station dey my area.
When I have a car, I will start worrying about petrol again.

Maka why na?

Meanwhile

Port Harcourt people get high definition Movies into your Hard drive or get Otg flash drive with Movies,check signature

Corrupt marketers.

Funny country........everyday drama....... better days ahead

Same thing FG and CBN is doing with stamp duty charge.

Setting banks against Nigerians.

Banks are helpless and Nigerians keep accusing them of over charging them, when infact it was the FG that sponsored the bill and mandated banks to implement it from February 1st.

I remember when we were enjoying N65 per litter under Jonathan, then he removed subsidy all propaganda machines were unleash.

Now some people like laureta the drunk were compensated others were used and dump.

Fight for fuel first failure of Nigeria.

The ethnic media at it again

Trying to discredit the government while appearing as champion of democracy yet to unveil the sinister agenda

Each should sell at whatever price it 'pays' them so long it is competitive.


These associations, in all sectors/markets, wouldn't allow competitive pricing in Nigeria.

You guys are fools.. next time if you go to them to buy products, tell them that you cannot buy at N108 but N113 because Nigerians are still buying at N123 and N125.. greedy mofos it's only when they want to con Nigerians they have mouth. All the times government have been increasing pump price, they don't even wait a second to do so. Greedy boneheads

Just trying to pass blame. Shior

The cold reality is that if we want investment and growth in our petroleum sector, removing subsides, and allowing makrketers to set the price is the only way forward.

It will enable NNPC to earn the type of profits it needs to build new refineries, expand existing ones, and upgrade existing ones.We would also see more people getting into the refinery business so that Dangote does not have a monopoly in the oil sector, and eventually prices of fuel will fall, importation of fuel will end and there would be job creation and more income for government.

Because as things stand, the fall in oil prices means there is no money for subsides, and no money for keeping oil prices low.

Yes, there would be a period of intial suffering. But before one complains, would one agree to government controlling the prices of the things you sell if you were in business, thereby inhibiting your means of making a profit to pay workers, buy new stock, etc...

We have to be realistic.