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Nairaland Forum / Nairaland / General / Politics / Oil Marketers Get $3.6bn To Import Fuel – NNPC (4697 Views)
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Oil Marketers Get $3.6bn To Import Fuel – NNPC by zakim(m): 8:45am On Jul 04, 2019 |
The Nigerian National Petroleum Corporation (NNPC) said the Central Bank of Nigeria (CBN) provided about $3.6 billion foreign exchange (FX) to oil marketers to import petroleum products into the country contrary to claims by the marketers that they had no access to FX for imports. The Chief Operating Officer, Downstream of the NNPC, Mr. Henry Ikem-Obih, said this yesterday at a panel session at the Nigerian Oil and Gas Conference and Exhibition in Abuja. He said the claims by the marketers that their inability to import petroleum product was due to problems related to access to foreign exchange was not true. Although he did not mention the period the FX interventions were made, Obih said, “The truth is that the forex intervention scheme which was rolled out by CBN and co-managed by the NNPC has been extremely successful.” “Since that scheme was set up, we have received applications from marketers for $7.2 billion worth of FX. In terms of actual disbursement, about 50 percent of the applications got funding. But the truth is that the FX that came through that scheme, especially for PMS, got potential funding for the majority of the applicants and FX was available to the marketers,” he said. He said, however, that applications that came in for AGO (diesel), HHK (kerosene), ATK (aviation fuel) also got forex at 305 to a dollar. Daily Trust reports that private oil marketers were said to have stopped fuel importation in 2017 due to a shortage of foreign exchange and increase in crude prices, which they said had made it unprofitable to import petrol and sell same at N145 per litre. Read more: https://www.dailytrust.com.ng/oil-marketers-get-3-6bn-to-import-fuel-nnpc.html
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Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by NigeriaIsDoomed: 8:51am On Jul 04, 2019 |
Zoo country still importing fuel ![]() 11 Likes 1 Share |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by Cmanforall: 9:03am On Jul 04, 2019 |
![]() 4 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by Jaynom(m): 9:03am On Jul 04, 2019 |
NNPC NA SCAM 12 Likes 1 Share |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by MANNABBQGRILLS: 9:03am On Jul 04, 2019 |
private oil marketers were said to have stopped fuel importation in 2017 due to a shortage of foreign exchange and increase in crude prices, which they said had made it unprofitable to import petrol and sell same at N145 per litre.Shame on the evil people that raped and looted our country in the years we made the highest profit in the history of our nation. They shared it all among themselves. Criminals supported by thieves. 3 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by Uchenaija: 9:03am On Jul 04, 2019 |
And you're telling us to beat them abi ![]() Well if you want to wear Senator suit to beat them check my signature |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by tical(m): 9:04am On Jul 04, 2019 |
NigeriaIsDoomed:I tire for this CUNTry o ![]() 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by HumanHairLovers(f): 9:04am On Jul 04, 2019 |
You gave them all that to import our oil back, well done! Need original hair in wholesale? Check my signature |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by anonimi: 9:06am On Jul 04, 2019 |
Is barawo bubu telling lies or he is just confused ![]() profola2be: www.nairaland.com/attachments/3220187_img11010123498002_jpeg_jpeg62c874903b6f8a5c196c046ea4a90862 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by anonimi: 9:08am On Jul 04, 2019 |
2 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by JubrinElSudan: 9:09am On Jul 04, 2019 |
Policy summersault. Today you stop them from importing, tomorrow you pay them to start importing. Another Avenue to subsidy increment 2 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by Bbbwings: 9:10am On Jul 04, 2019 |
This is the most wasteful nation on planet earth Imagine the refinery you could build with THREE POINT SIX BILLION DOLLARS JUST SO YOU KNOW A BILLION IS A THOUSAND MILLION. A DOLLAR IS 365 NAIRA 3 Likes
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Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by passyhansome(m): 9:15am On Jul 04, 2019 |
Nigeria needs help sooner or latter, it will explode, Only God can help us we Christians needs to travail in place of prayer for her 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by dallyemmy: 9:19am On Jul 04, 2019 |
How much to build new refinery sef? 2 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by MobilityExpress: 9:21am On Jul 04, 2019 |
The Nigerian Oil and Gas industry is the biggest fraud industry in the world. A country that produces crude oil will now still apend trillions of naira yearly to import fuel products, showing will this scam continue. Look at the oil importers, all of them turned billionaires over night, look at NNPC managers and directors, all stinkingly rich from the corruption from oil importation. Then someone will say there is a cabal is Aso Rock. Yes, there is, but even the Aso Rock Cabals are have oga at the top, the oil and gas cabal are the real cabals that run this country, the real mafias that have enslaved the economy of this country for their own riches. Dollar billionaires all of them, while the average Nigeria is on 18l minimum wage and continue to struggle for N30k minimum wage that is yet to be implemented. 2 Likes |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by MobilityExpress: 9:21am On Jul 04, 2019 |
dallyemmy: Winner of the Best Question of the Year award |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by Taidi(m): 9:32am On Jul 04, 2019 |
Nigeria is a very funny country I swear.. We have crude oil...and yet we still import petroleum... F*#cki*# fix the refineries.. Nigeria can waste resources sha..thanks to our bad leaders that are after their own pockets..mtsewww 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by danduchi(m): 9:43am On Jul 04, 2019 |
And Dangote is using $10billion to build one of the biggest refineries in the world.. What kind of stupid government is this... Why not use the money to build a world class refinery and stop importing fuel. WYG is wrong with this government and everyone 4 Likes 1 Share |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by anonimi: 9:48am On Jul 04, 2019 |
Taidi: Are the leaders from another country or aliens from Mars ![]() 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by anonimi: 9:53am On Jul 04, 2019 |
JubrinElSudan: Just an indication of the massive looting going on at the top and siphoning our money abroad like Abacha. www.nairaland.com/attachments/2733734_munch20150812080810_jpeg1d11e13a327d33cec402de71dc2a8eb7 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by grandstar(m): 9:58am On Jul 04, 2019 |
This government is one of the most financially wasteful in the country's history and worse, it is sanctioned by the Presidency. 1 Like |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by CreativeJerry(m): 10:08am On Jul 04, 2019 |
Keep importing oo |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by DameB(f): 10:11am On Jul 04, 2019 |
I thought this was one of the reasons given for the devaluation of naira in 2016, that the excessive importation and huge dollar transactions was bad for our economy What role will Dangote Refinery play with regards to this fuel importation? |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by oz4real83(m): 10:24am On Jul 04, 2019 |
This money is enough to build a refinery. Whether apc or pdp,these people know what they are doing. Until the people become convinced and decide that it is enough for these groups of people,the same thing will continue irrespective of the political party in power. |
Re: Oil Marketers Get $3.6bn To Import Fuel – NNPC by urahara(m): 10:34am On Jul 04, 2019 |
grandstar: I thought they said they have devalued the naira. |
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