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Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, - Politics - Nairaland

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Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Omooba77: 3:32pm On Aug 01, 2023
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that, the business of its members is extremely under pressure since the removal of the petrol subsidy.

National President of the association, Chinedu Okoronkwo, stated this while speaking at a public hearing before the House of Representatives Ad-hoc Committee investigating the recent hike of petrol pump price on Tuesday.

According to him, in Ibadan, Oyo State, alone, over 40 members have put up their filling stations up for sale adding that, hundreds of others in other parts of the country are doing the same because of the hard business environment.

He said many members who sold a truck in three days now sell the same quantity for a month.

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Okoronkwo said a truck is about N25 million, out of which they don’t make a N500,000 profit, adding that the gain is not enough to pay workers’ salaries and take care of other demands like taxes.


The IPMAN chairman lamented that the defunct Petroleum Equilisation Fund (PEF) and the Nigeria National Petroleum Corporation Limited (NNPCL) are holding on to N750 billion equilisation money owed to its members.

According to the chairman, while PEF is holding on to N250 billion, the NNPCL is holding on to N500 billion.

IPMAN however advised government to set up structures to encourage the use of Compressed Natural Gas (CNG) as an alternative.

According to him, Nigeria should utilise the abundant gas which is being flared annually as a viable alternative energy source to fuel vehicles.

Earlier in his remark, Chairman of the Ad-hoc Committee, Babajimi Benson said, the Ad-hoc Committee was set up to investigate the circumstances surrounding the increase of the pump price from N537 to N617.

“Petroleum is unarguably the lifeline of the Nigerian economy and any increase in its price will undoubtedly result in ripple effect on price of goods and services especially food stuff.

“Statistics show that Nigerians spend an average of 80% of their incomes on food alone. This is why we fear that this recent increase will further push Nigerians deeper below the poverty line.


“This committee is confident that government mean well for Nigerians and have its justification for this action. This is what we want to hear at this investigative hearing. Nigerians need to understand the rationale behind this action,” he said.



https://dailytrust.com/subsidy-removal-marketers-putting-filling-stations-for-sale-over-poor-sales-profit-ipman/

1 Like

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Isokotolopia: 3:35pm On Aug 01, 2023
They finished the country with subsidy money
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Alchemy528: 3:36pm On Aug 01, 2023
Nigeria is finished
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by AdamuKD: 3:38pm On Aug 01, 2023
grin
This selling of filling stations go favour me and my family grin grin

FOOLS!

3 Likes

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Nobody: 3:38pm On Aug 01, 2023
If man was God

I could have changed everything
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Afamed: 3:38pm On Aug 01, 2023
They have to close since there is no fuel to divert to Benin/ cameroun again.

Bunch of criminal

1 Like

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by AdamuKD: 3:39pm On Aug 01, 2023
Afamed:
They have to close since there is no fuel to divert to Benin/ cameroun again.

Bunch of criminal
Sharap. Tulumbu is the criminal here

5 Likes 3 Shares

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Ofunaofu: 3:40pm On Aug 01, 2023
Afamed:
They have to close since there is no fuel to divert to Benin/ cameroun again.

Bunch of criminal

The economy is going down bro

3 Likes

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Taylor90: 3:40pm On Aug 01, 2023
undecided
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Taylor90: 3:41pm On Aug 01, 2023
Afamed:
They have to close since there is no fuel to divert to Benin/ cameroun again.

Bunch of criminal

This one don craze

4 Likes

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Afamed: 3:41pm On Aug 01, 2023
AdamuKD:

Sharap. Tulumbu is the criminal here

Election is over. No need for pseudo moniker again , Achalugo

1 Like

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Afamed: 3:44pm On Aug 01, 2023
Ofunaofu:


The economy is going down bro


You are right, the economy is going down for those who used to divert the fuel to Cameroun, Chad, Benin.

But for Rain oil, Matrix who are genuine oil market, they are smiling to the banks

2 Likes

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by backtovillage: 3:46pm On Aug 01, 2023
Alchemy528:
Nigeria is I am finished
Noted

2 Likes 1 Share

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by backtovillage: 3:47pm On Aug 01, 2023
AdamuKD:
grin
This selling of filling stations go favour me and my family grin grin

FOOLS!
Your bitter tears go favour me too 😂

2 Likes 1 Share

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Beremx(f): 3:48pm On Aug 01, 2023
After selling petrol stations, they should start selling their tankers and recycle it to become another product. At least it would reduce seeing tankers on the road.
Una never jam!

1 Like

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by AdamuKD: 3:51pm On Aug 01, 2023
backtovillage:

Your bitter tears go favour me too 😂
Na hunger, poverty and depression go favour you and your wretched family mumu
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by AdamuKD: 3:52pm On Aug 01, 2023
Afamed:


Election is over. No need for pseudo moniker again , Achalugo
Achalugo kee there
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by AdamuKD: 3:53pm On Aug 01, 2023
Taylor90:


This one don craze
Concentrated madness for that matter grin
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by CodeTemplar: 4:13pm On Aug 01, 2023
Agric energy & manufacturing are still alive. Choose one to switch to.
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by orisa37: 4:13pm On Aug 01, 2023
TINUNOMICS IS WORKING VERY WELL AND FAST.
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Ola9ja23: 4:18pm On Aug 01, 2023
Thank God


But why are Ndi sit at home crying profusely 😄😀😂

Ekpa should extend the 2 weeks to 2 months 😂😀😄

We will use sit at home to reset that ur pangolo, coconut and hate filled skull 😄😀😂
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by BoldBrainz(m): 4:24pm On Aug 01, 2023
Afamed:


You are right, the economy is going down for those who used to divert the fuel to Cameroun, Chad, Benin.

But for Rain oil, Matrix who are geneine oil market, they are smiling to the banks

You no even sabi spell, you dey attack people up and down cause of Tinubu.. grin.

Bros, e for pay you better if you use this time, energy and resources take go back school. So that when you return, you'll be able to spell "genuine", at least.
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by backtovillage: 4:25pm On Aug 01, 2023
AdamuKD:

Na hunger, poverty and depression go favour you and your wretched family mumu
Your wailing is favouring us.
You cry tire on this forum 😂

1 Like 1 Share

Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by jmoore(m): 4:31pm On Aug 01, 2023
Tinubu, the master strategist. In just 2 months, he has rendered millions of Nigerians jobless. He has wiped out the savings of most Nigerians.
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by ManirBK: 6:35pm On Aug 01, 2023
TINUBU IS WORKING nlfpmod
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by hakeemhakeem(m): 1:03am On Aug 02, 2023
Ñnpc downstream would buy it
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Omooba77: 8:14am On Aug 02, 2023
Many petrol attendants will be jobless.......
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by 001Lagos: 8:17am On Aug 02, 2023
Omooba77:
Many petrol attendants will be jobless.......
that's the Nigeria that the likes of Helinues and Seunmsg, afamed prayed for..

Let no one complain when armed robberies in Lagos increase
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Day169: 8:24am On Aug 02, 2023
Like they say, water will always find its level.
During the boom period, these guys were making a kill, enough money to last several life times (for the prudent).
So if things are changing in the new regime and they feel the heat in the kitchen is much, then it might be time for them to get out. cheesy
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Omooba77: 8:24am On Aug 02, 2023
001Lagos:
that's the Nigeria that the likes of Helinues and Seunmsg, afamed prayed for..

Let no one complain when armed robberies in Lagos increase
Truth is that, these people are suffering too, but must support their party affiliations and ideology........
Suffering doesn't have religious or party colouration...
.....
Re: Subsidy Removal: Marketers Putting Up Filling Stations For Sale Over Poor Sales, by Omooba77: 11:05am On Aug 02, 2023
Day169:
Like they say, water will always find its level.
During the boom period, these guys were making a kill, enough money to last several life times (for the prudent).
So if things are changing in the new regime and they feel the heat in the kitchen is much, then it might be time for them to get out. cheesy
How much is their salaries.......
.

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