NewStats: 3,262,652 , 8,177,800 topics. Date: Tuesday, 03 June 2025 at 07:59 AM 4z4t12

The oil marketers also told our correspondent that the current challenge they faced in the industry was how to sustain the improvement in the supply of petrol across the country.

They said they had started importing petrol as many oil majors and a few independent dealers were accessing the United States dollars, as promised by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.

The Corporate Affairs Manager, Nipco Plc, a renowned oil marketing firm, Mr. Lawal Taofeeq, stated that the petrol subsidy issue must be managed properly by the government in order to ensure adequate sustenance of the present improvement in fuel supply across the country.

He noted that the marginal rise in the price of crude oil could force the government to review the pump price of petrol upwards, particularly should the government insist on not paying petrol subsidy to oil marketers.

Taofeeq said, “We’ve started importing products. But on sustenance, it depends on how the government handles the issue of subsidy. You know subsidy on petrol has returned and its management will go a long way in affecting fuel supply.

“Before, there was no subsidy on petrol. But now, considering the rise in crude oil price, there is subsidy despite the fact that the official pump price hasn’t been changed. So, if the subsidy issue is not managed properly, marketers may not want to import the product unless they are sure of their money.

“The government has been using the price modulation technique, and as crude oil price is going up, it will be adjusting the pump price of petrol. Any moment from now, there may be an upward review in the pump price of petrol to take care of the rise in the price of crude oil in the international market.”

Taofeeq stated that although petrol supply had improved considerably, some filling stations had yet to start getting the product seamlessly.

He said, “The level of supply has improved but you still find out that in some areas, not all the petrol stations dispense the product. All the stations cannot have fuel at the same time. For instance, on Ikorodu Road in Lagos, you still find queues in front of some petrol stations.

“This is because not all the outlets on this road are dispensing fuel as of today (Friday). The supply mechanism cannot take or get to all the stations in one day. Some may have to hold on for about four to five days before it gets to them. And when it gets to them, others may have exhausted their product. That is why you see queues in some places.”

The Executive Secretary, Major Oil Marketers Association of Nigeria, Mr. Obafemi Olawore, stated that the NNPC had ensured that petrol dealers would get the product, adding that many marketers had also started importing the product.

On the measures so far put in place by oil marketers to stabilise and sustain supply, Olawore said, “That is the challenge all of us face now. The sustenance is now the issue but we will try to sustain it.”

When asked if marketers had started accessing forex for petrol importation, he said, “The issue is that they (government and the NNPC) have spoken with the upstream companies. These companies are helping some majors. And the NNPC, on its own, is helping some majors as well as other marketers.

“The NNPC has done a lot. Let us give it to them because they’ve truly done a lot. We have also been bringing in the product but majority of the vessels were brought in by the NNPC. That is why I say it is right for dealers and consumers to laud them this time around.”

http://punchng.com/fg-may-increase-petrol-price-soon-marketers/

Hmmm

AND THE SUFFERING CONTINUE. I BEG WEY MY GARRI AND KULI KULIAND THE SUFFERING CONTINUE. I BEG WEY MY GARRI AND KULI KULIAND THE SUFFERING CONTINUE. I BEG WEY MY GARRI AND KULI KULI

Tah

AND D SUFFERING CONTINUE. I BEG WEY MY GARRI AND KULI KULI

A recipe for violent revolution.

This one will never be the concern of zombies because they are program to look left when others are looking right. What a country? Sai shi.t

Which kain government do we have in this rejected country sef.
So irresponsible to people's demand

Time to buy a bicycle or horse

If removal of subsidy will result in hike, it better be cos the country is broke.

And d suffering kwantinu,make una dy enjoy am for naija,make bubu just fix dat exchange rate abeg if he like make him throw d budget inside dustbin e no concern me,na exchange rate important

Vshock:
Time to buy a bicycle or horse

I tell you

SleekAboki:
A recipe for violent revolution.

Once i read the comment and saw the moniker of its poster i laughed. No be only violent revolution na violent revolver. Keep dreaming and think Nigerians mistake the divisive Jo for Buhari.

And so? Dumb people alone still expect change. I mean really tidally-yes, that big - dumb folk mehn.

Dumb Nigerians mehn. Only them still believe this govt can achieve jack.

Enjoy your change.

This change sweet gan!

Standing5:
Once i read the comment and saw the moniker of its poster i laughed. No be only violent revolution na violent revolver. Keep dreaming and think Nigerians mistake the divisive Jo for Buhari.

You think this would be another Ojota carnival for you to come and have some good times?Keep smoking that shit you addicted on.

SleekAboki:

You think this would be another Ojota carnival for you to come and have some good times?Keep smoking that shit you addicted on.

SleepAboki is that you? Always typing while dosing.

Standing5:
SleepAboki is that you? Always typing while dosing.

Say something intelligent for once.

Make them noh even try ham...which kind wahala be this nah

citizenisb:
http://punchng.com/fg-may-increase-petrol-price-soon-marketers/

He noted that the marginal rise in the price of crude oil could force the government to review the pump price of petrol upwards, particularly should the government insist on not paying petrol subsidy to oil marketers.

Taofeeq said, “We’ve started importing products. But on sustenance, it depends on how the government handles the issue of subsidy. You know subsidy on petrol has returned and its management will go a long way in affecting fuel supply.

“Before, there was no subsidy on petrol. But now, considering the rise in crude oil price, there is subsidy despite the fact that the official pump price hasn’t been changed. So, if the subsidy issue is not managed properly, marketers may not want to import the product unless they are sure of their money.

“The government has been using the price modulation technique, and as crude oil price is going up, it will be adjusting the pump price of petrol. Any moment from now, there may be an upward review in the pump price of petrol to take care of the rise in the price of crude oil in the international market.”

Nigerians will still adapt.....
let em do anyhow

marketers remain key benefactors of this upward review of pump price.

I move a motion for the renunciation and withdrawal of the Ph.d and Professorship conferment bestowed on Prof. David Tam West.
As for Buhari and APC, we dey wait 2019

Lol the change is taking effect

Change from pleasure to pain kikikkikik

I know that the set of people who would complain about this are the same asswipesss whose brothers in arms are blowing up pipelines and sabotaging the refineries

fistonati:
Which kain government do we have in this rejected country sef.
So irresponsible to people's demand

Most you seem not o have read even a single line but just the title. A portion of the article was even highlighted to reflect the reason behind the imminent rise yet you people just couldn't spare a second to read it before commenting.

The suspicion that there might soon be a price hike is due to the marginal rise in the price of crude at the international market- it is not the FG's fault.

You guys should get a grip on your emotions already. It sucks.

It is a welcome development. DPR should work with the marketers to ensure availability. The subsidy regime was a huge sink and avenue for corruption to begin with.

exactli y I hate Nigeria!




These set wud bliv dia party Loyalists n those set wud bliv dia own party loyalists nt given an iota of tot if dey r lieing or not!






I rili nid to travel out of dis country to Abuja!

Vshock:
Time to buy a bicycle or horse

I have bicycle for sale....

Make them try am first

But when the priced crashed from $140 per barrel to $40 per barrel was the price at the pumps lowered?

This 419 govt...