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Nairaland Forum / Nairaland / General / Politics / Nigerians Must Brace For More Fuel Scarcity — NNPCL Official (1096 Views)
Petrol Scarcity: NNPCL Bars Independent Marketers Amid Surging Prices / Petrol Scarcity: NNPCL, Marketers Plan N148/litre Ex-depot Price / Fuel Scarcity: NNPCL Releases 1.9billion Litres PMS After DSS Ultimatum (2) (3) (4)
Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 10:43am On Sep 05 |
Nigerians have been advised to brace for more fuel scarcity following the recent hike in the pump price of the product. The Executive Vice President of Nigerian National Petroleum Company Limited (Downstream), Adedapo Segun, has emphasised the need for a perfectly competitive market to ensure stable fuel prices and supply in Nigeria. He expressed concern that the current pump price does not accurately reflect prevailing market conditions. Segun made this statement during an appearance on Arise Television’s Morning Show on Thursday. “The pump price today is not market reflective. NNPCL is the sole importer of PMS in the country, which is abnormal. We should be moving towards a situation where the free market determines prices,” he said, stressing that market forces, rather than any single entity, should dictate fuel prices. Segun clarified that NNPCL’s role as the sole importer of Premium Motor Spirit (petrol) was not a deliberate choice by the company but a response to market conditions. “Let me put it in the proper context. NNPCL is not a regulator. We didn’t choose to be the sole importer. We don’t determine who plays in the market. We stepped in when others reduced their participation. It’s not about wanting to be monopolists,” he explained. He also stated that achieving a stable fuel supply and price would require ideal market conditions, including a more liquid foreign exchange market. “Market conditions need to be perfect, and there must be FX liquidity,” he added, suggesting that broader economic reforms may be necessary to address the fuel pricing issue. NNPCL has been working closely with private refineries, such as Dangote, to ensure a steady supply of crude oil for refining. “We have supplied about 30 million barrels to Dangote so far: 6.3 million this month, and we will supply 11.3 million in October,” Segun revealed. https://punchng.com/just-in-nigerians-must-brace-for-more-fuel-scarcity-nnpcl-official/ |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by TemplarLandry: 10:47am On Sep 05 |
![]() GOD has something to say concerning every situation and this valley we're in now is not an exception. My gallant Nigerians, don't fidget. 10 Likes 2 Shares |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Standing5(m): 10:48am On Sep 05 |
Let them starve Dangote of crude if they want. |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by docdes: 10:49am On Sep 05 |
What a heart break! |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Racoon(m): 10:53am On Sep 05 |
Useless corruption bastards subserving the corrupt ego of their corrupt sponsors. You will all go down for all the pain you are causing this nation 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by tishbite42: 10:55am On Sep 05 |
Tinubulation continues 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by orikoku: 10:57am On Sep 05 |
This country is going on extinct... With all the price hike, the product won't still be available. God why? How person want take survive. |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Typicool8(m): 11:00am On Sep 05 |
Na Nigerians wey dey tolerate all this bullshit I blame |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by CyrusVI(m): 11:06am On Sep 05 |
![]() Whats Kyari doing sef? NASS should call him up for questioning 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Typicool8(m): 11:10am On Sep 05 |
CyrusVI: Who's your minister of petroleum and can't you call him out? 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by OkCornel(m): 11:11am On Sep 05 |
Oshiomole has this to say to Nigerians - “be patient” 1 Like
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Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by press9jatv: 11:20am On Sep 05 |
Meaning the price of fuel will increase further. Nigeria eku iroju oooo. God help Nigerians in this Tinubu inflated regime |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by jmoore(m): 11:46am On Sep 05 |
TemplarLandry:Babablu bulabu. After voting in a disaster, they are now using God as a cover to hide their ineptitude. Tinubu is a weapon fashioned against Nigeria. 2 Likes |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 3:23pm On Sep 05 |
Nlfpmod, shege bansa loaded already. NNPC still boasting. ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by BlackfireX: 3:38pm On Sep 05 |
Haters looking for ways to discredit our Jagaban. Our darling president we the youths are solidly behind you |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Kobojunkieee: 3:41pm On Sep 05 |
iwaeda:Even with Dangote already online? ![]() 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Melagros(m): 4:46pm On Sep 05 |
COMRADES are speechless, Tinubu is a big disgrace What a shame 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 6:20pm On Sep 05 |
1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 6:21pm On Sep 05 |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Kobojunkieee: 7:24pm On Sep 05 |
iwaeda:Is Dangote really up and running as they claim? The plant is supposed to churn out thousands of barrels of fuel daily, so if not even a drop of the fuel has hit the market in the last 24 hours doesn't that mean what we were told of it being ready to ship 10s of thousands of barrels each day is not of fact? ![]() |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 7:32pm On Sep 05 |
Kobojunkieee: The more you see, the little you know. ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 10:26pm On Sep 05 |
Hardship reloaded. ![]() ![]() ![]() |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 8:30am On Sep 06 |
Kobojunkieee: Let me mynd my business Baba kobojunkiee, it will end in praise, oluwa seun. ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by Jamie248: 11:35am On Sep 06 |
OkCornel: I hate this sex-maniac Oshiomhole with every fibre of my being 1 Like |
Re: Nigerians Must Brace For More Fuel Scarcity — NNPCL Official by iwaeda: 1:13pm On Sep 06 |
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