The Major Oil Marketers Association of Nigeria has said that Point-of-Sale machines’ NGN50 transaction charge is unjust to the association.
The MOMAN Chief Executive Officer and Executive Secretary, Mr. Clement Isong, said that the association was involving the Central Bank of Nigeria, Petroleum Products Pricing Regulatory Agency, Nigeria National Petroleum Corporation, Ministry of Petroleum Resources and some other stakeholders.
The Central Bank of Nigeria (CBN) has authorized banks and other stakeholders in Nigeria to unbundle dealers settlement costs and charge applicable taxes and fees on every transaction performed.
CBN asked the banks and other affected sectors which MOMAN is included to charge a fee of NGN50 on services rendered in respect of electronic transfers and tellers.
Mr. Isong said that some petrol filling stations were leased from MOMAN and oil sellers cannot afford to pay the NGN50 PoS charge imposed on them. He added that It has been a long time they have been paying the charges and it has not been so easy so they want petrol dealers out of paying the charges.
The MOMAN Chief Executive Officer and Executive Secretary uncovered that petrol seller earns only NGN2.36 on a litre of petrol and an average filling station sells about 100,000 litres in a month, in Nigeria, there are about 30,000 petrol filling stations and most of them situated in a rural environment.
He further said that the 100,000 litres if sold per month only attract income of NGN236,000 and out of the income dealers have to pay some certain bills which may include salary or wages of staffs, land lease or rent bill, electricity or even generator plant charges and with all this dealers suffers a lot, fuel stations incurs about 20 percent on trade.
However, He said that the PoS charge is bad for them is because the dealers must sell petrol worth 22 litres to earn NGN50.