Peter Uzoho
Marketers of petroleum products have said they are yet to go back to the importation business due to their inability to access foreign exchange.
According to them, sourcing dollars at the official market rate remains a challenge to them due to its scarcity, adding that they could not go to the black market in search of forex because of the cost implication.
This is happening months after the federal government said it had removed petrol subsidy, deregulated the downstream petroleum industry and had given private marketers permission to resume importation of petroleum products
The petroleum marketers including the Major Oil Marketers Association of Nigeria (MOMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have continued to depend on the Petroleum Products Marketing Company (PPMC), the petrol importing arm of the Nigerian National Petroleum Corporation (NNPC) for th
Fuel Price: MOMAN, DAPPMAN want full deregulation, forex access
On
By Sebastine Obasi
Major Oil Marketers Association of Nigeria, MOMAN and Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, last weekend, called for full deregulation and unfettered access to foreign exchange, FOREX, from the Central Bank of Nigeria to enable them petrol available to every nook and cranny of the country.
This is coming on the heels of the N5 per litre slash in the price of petrol scheduled to take effect from today, Monday, December 14, 2020.
Chairman DAPPMAN, Mrs. Winifred Akpani, said; “the inability to source FOREX from the official CBN FOREX window by independent marketers is continually hindering the effectiveness of the principles of demand and supply market forces to correct the current inefficiencies in the pricing mechanisms adopted in the deregulation process.”
Outrage As Filling Stations Refuse To Comply With N5 Reduction In Petrol Price
By Idowu Maryam
Despite the order from the Federal Government on December 8th, for a slash in the pump price of Premium Motor Spirit (PMS), known as petrol by N5 from Monday, motorists have continued to express frustration as most filling stations are yet to comply with the order.
The Breaking Times learnt that the two filling stations in front of the headquarters of the Nigerian National Petroleum Corporation in Abuja, Conoil and Total, are selling PMS at N166.5 and N168 per litre respectively.
Other stations like NIPCO, AA Rano and DanOil, sold at prices above N162 per litre as at Monday while NNPC filling stations in Abuja are selling at the new rate.
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’Femi Asu and Okechukwu Nnodim
Oil marketers, on Monday, failed to adjust the pump prices of Premium Motor Spirit (petrol) at their filling stations to reflect the N5 reduction announced by the Federal Government last week.
After meeting with officials of labour unions in Abuja last week, the Minister of Labour and Employment, Dr Chris Ngige, announced that all parties resolved that the price of petrol be reduced by N5 per litre with effect from December 14.
But filling stations visited by our correspondents in Lagos, Abuja, as well as parts of Niger and Nasarawa states on Monday were still selling the petrol at between N163 and N168 per litre.
Oil and Gas stakeholders ask government to grant access to CBN FOREX market and importation of petroleum products nairametrics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairametrics.com Daily Mail and Mail on Sunday newspapers.