Connect with us

Oil and Gas

NIGERIA: Oil Marketers Disagree with FGN Regulations



NIGERIA: Demand for Liquefied Petroleum Gas Rise by 40%

A problem that may lead to fuel scarcity and relating issues is brewing between the Oil Marketers of Nigeria and the Federal Government as the Oil Marketers declare their final statement, terms, and conditions to the Government.

The Oil Marketer stated that the Federal Government should remove some regulations imposed on them and the Petroleum industry.

The Oil Marketer claim that since the Nigerian National Petroleum Corporation (NNPC) has become the only importer of Premium Motor Spirit (PMS) into the country the Oil Marketers have since then been earning less profit on sales of petroleum.

The decrying group stated that the current price template from the Petroleum Products Pricing Regulatory Agency (PPPRA) sets premium motor spirit prices at N179.50 per litre, therefore, the Federal Government is paying N34.50 as subsidy per litre of PMS.

Furthermore, the group said that during the last festive season there was a full supply of fuel all over the Nation because they chose to work corporately with the Federal Government and that the Government had pleaded to them to do all the possible to make sure PMS is available all over Nigeria doing Christmas and December Ending.

The Oil Marketer said that to date the Government has not responded to their requirements. They added that their requirement includes; wanting the Federal Government to remove some regulations imposed on them or better still Increase their Margins as the Group is not earning a maximum profit on trade.

Secondly, the Government should immediately remove the N50 Point-of-sale machine (PoS) charges in the Petroleum industry.

Thirdly, they lamented that Nigeria’s bad roads in causing them a lot and affecting the smooth running of their businesses.

However, the Group further added that the Federal Government is yet to settle arrears subsidy debt to the coffers of the Oil Marketers.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 - Developed by Arcadia Media.