NewStats: 3,263,248 , 8,179,541 topics. Date: Thursday, 05 June 2025 at 08:50 AM 6v431m

THERE are indications that prices of kerosene and diesel may further go up following acute dearth of the products, as marketers yesterday blamed the scarcity and hike prices of the products to unavailability of foreign exchange, FOREX, unpaid debts by Federal Government and other government’s harsh policies.

The prices of the products have already gone up as kerosene is sold between N180 and N200, while diesel is sold between N150 and N187 depending on the retail outlet.

A cross section of marketers who spoke to Vanguard on condition of anonymity, said there was a huge shortfall in the importation of these products because of scarcity of FOREX.


The long queue for expensive and unavailable kerosine…but when will this scarcity stop?
According to them, “The supposed FOREX liberalization is a big challenge to us, more especially to independent marketers. The current FOREX policy is on bidding and the highest bidder gets the available FOREX. Often, the bid gets to as high as N400 or more to $1 and some of us who cannot afford to keep up are discouraged from adding these products to our list of import.

“Moreover, foreign banks have cancelled all credit lines issued to marketers because of unpaid debts owed them. FOREX has doubled from N197 to N287 a dollar and more depending on the selling point. What this means is that, for a debt of N4 million at N197 to a dollar, we are expected to pay about N83 million at the current price regime. How do we get such money to import if government does not pay it outstanding debt? We are quite aware that if there is scarcity, prices cannot be controlled. If there is FOREX, we would import and the prices will crash.”

They also decried policy inconsistency in the oil and gas industry, adding that such inconsistency was hindering the growth that would drive the sector as well as the economy.

Corroborating the marketers, National Chairman, Surface Tankers Kerosene Peddlers, SUTAKEP, Benjamin Rotimi, lamented the unavailability of Kerosene across the country.

According to him, “Kerosene is very scarce and it is not available. As we are aware, when it becomes scarce, its price is bound to go up. That is the state we are in now.”

The independent depot owners in Lagos are not getting supplies. The pressure is on Warri refinery and if enough is refined, there will be more to distribute and the price will be at equilibrium.

“All NNPC depots across the country have not loaded Kerosene for the past 20 years. And if NNPC depots are not getting kerosene, we are then left at the mercy of private depot owners with ‘crazy price’ regime. The way out of this mess is for the federal government to adopt its strategy used on PMS, where products are distributed to Mossimi, Ibadan. If such is also used for Kerosene, we will avert these trauma currently bedevilling kerosene prices.”

http://www.vanguardngr.com/2016/07/scarcity-forex-may-drive-kerosene-price-higher/

It already has.
Which planet does Vanguard operate from?

Stup1d leaders, stup1d country, which way den No hope again na .very useless leaders

No ForEx for Kerosene but there is for Dangote to build refinery. I don't seem to understand what's going on.

Godwin Emefiele, Kachikwu, PMB - You've got explanations to make.

mkm

I'm not surprised. Even we using gas are not left out. Just imagine a 6kg cylinder of gas which goes for 1,400 about few weeks ago is
now 2,100. Imagine a 12.5 kg of 3000 now 4,300. All this as a result of the FG harsh and unfriendly decisions.
Everything is damn high. Bread is now something else.
Im convinced this govt is more clueless than even the past . Because it just seemed as if they are visionless and directionless. They need a tutor. Not the lairs and thieves giving 'em directions.
President Buhari, pls do something.

I thought it is already N300

en en...it better not

Is it still 1984



nairaland.unblockandhide.com/attachments/3515036_image_jpeg9f360c5ab7736510df54c882e9dbf188

OK

anonimi:
Is it still 1984



nairaland.unblockandhide.com/attachments/3515036_image_jpeg9f360c5ab7736510df54c882e9dbf188

Zombies might have a better explanation

wey Gas price sef don increase..... Biko na to start to dey use dat sawdust stove called abacha or firewood cook be dat ooo

gas prices are also high



this govt and hardship

[size=14pt]mehn, kerosene is 220/ ltr and the kerosene doesn't seem to be kerosene again,coz it finishes very fast.
God help us in this Sithole.
Buhari have really messed up...what an assshole of a presidiot.[/size]

ehg

When a gallon is already 1350 and you think is not already high?

Gas 400 naira for one kg nA so I mange myself fill 3kg. Men Nigerian student are feeling the brunt of these economic hardship

Kenya that is also importing it even with recent hike is selling a litre for N175 and so readily available as one can go to a filling station and just buy one litre!

Noted

Buhari kwantinu.

confuse ppl blame it on GEJ good morning in d afternoon folks

Buhari ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Eeyaaa. Una need change

This is serious.

Anyway, it is well.

Just ask their boss, GMB

Bolustic:
No ForEx for Kerosene but there is for Dangote to build refinery. I don't seem to understand what's going on.

Godwin Emefiele, Kachikwu, PMB - You've got explanations to make.

They seem not to be saying anything about the recent hike.Open up this country no,restructure the country no,I can't understand how a country will move forward when reports upon reports on how to turn things around in the country have been consigned to the waste bin and somebody is there steering a ship that he can't even control effectively....there is certainly something wrong with African genetics because you can't tell me that people who are very healthy and sound seeing the country suffering and dying wouldn't try new ways of managing this country rather than to stick to the same old way that has produced nothing goog for us than suffering.Restructure Nigeria or watch it DIE!

d

Bolustic:
No ForEx for Kerosene but there is for Dangote to build refinery. I don't seem to understand what's going on.

Godwin Emefiele, Kachikwu, PMB - You've got explanations to make.

Forex is;
Jonathan crude at $100/$140 x 2 million = $200 million
PMB crude at $31/$40 x 2 million = $80 million.

Can you see why there is no forex.

moffat:
confuse ppl blame it on GEJ good morning in d afternoon folks

The same way you blame IBB, can you see how Jonathan run our economy down with Oil boom.

#Diabolic change!...the clueless/heartless/insensitive/seif-serving nomad is a waste of my vote!

I am very sick and tired of this nation.

I am tired of explaining how bad this govt and it's carelessness has gone. I am tired of all this shìt.


This govt has no idea of what they are doing.

Scarcity again?

I tot they threw fx price to be determined by principles of demand and supply?


If I had $2billion,I will simply hoard $1billion, create scarcity in the market, inflate the price of my remaining $1billion, make enough profit, once I am tired, I will just trade the rest. After all, CBD, closed a door but refused to open a window or another, so we are all stuck in this room. We all know that an average naija man is never tired of making money.