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Nairaland Forum / Nairaland / General / Politics / Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent (25335 Views)
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Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Horus(m): 10:00pm On May 20, 2016 |
https://www.youtube.com/watch?v=ZPq-SQxT-2A [size=14pt]Petrol Scarcity: Marketers Still Challenged By Scarce Forex[/size] |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by robinsoncrosoe: 10:02pm On May 20, 2016 |
So many problems at once..... BUHARI is BAD luck 5 Likes 3 Shares |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by folks4luv(f): 10:02pm On May 20, 2016 |
rodbel:source for forex? from where or who? don't forget the fg fixed the price for fuel based on the assumption that the importers will get foreign exchange at a certain rate, so what happen if they can get it at the rate fixed by the federal govt? 4 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by MaziOmenuko: 10:04pm On May 20, 2016 |
Aspireahead: Exactly! This is why I didn't support their strike for now. There are loads of wahalas in the pipeline. Soon, it will be obvious that this current arrangement the fg has with oik importers won't work. After selling in naira, the marketers will soon discover that all the cash they made in naira is useless if they can't convert to dollars and get more products. 3 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by drss(m): 10:04pm On May 20, 2016 |
u see ![]() 3 Likes 2 Shares |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by dklex(m): 10:06pm On May 20, 2016 |
God have mercy. |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by drss(m): 10:08pm On May 20, 2016 |
folks4luv:buari does not have economic team. him advisers no sabi economics. 2 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by obinna2nv(m): 10:14pm On May 20, 2016 |
Like seriously these oil marketers are behaving like overgrown babies!! Please, y'all are businessmen and women, go and ask your fellow business colleagues importing other commodities how they access their own dollars, these guys have been so pampered by FG over the years, that they've forgotten how a proper business is run. But hell, what had happened to all the dollars anyways!! 3 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by obailala(m): 10:17pm On May 20, 2016 |
rodbel:Even the 30% that the dead refineries were producing at, avengers went and blew up the pipelines returning the refineries to 0%, and some people rejoiced. Nigeria is cursed with useless leaders and more useless citizens. 3 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by rodbel(m): 10:18pm On May 20, 2016 |
folks4luv: If you had a business and raw materials are scarce will you just close down your business because of that? They are businessmen, and it's time they start acting like one. I don't blame them though. They hold the monopoly of the market if not they won't be spewing thrash 3 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by peaceuntous: 10:19pm On May 20, 2016 |
And this govt removed crude swap deals. Bring back crude swap deals. Give foreign refineries crude, free. They give u refined product free ![]() Stop gap measure. Permanent solution is our own refineries, in privAte handsooo. Not govt. More people like dangote. 6 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by rodbel(m): 10:21pm On May 20, 2016 |
obailala: Quite pathetic! 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by obailala(m): 10:21pm On May 20, 2016 |
peaceuntous:Nigerias crude production has dropped from over 2.1 million barrels per day to less than 1.4million. There isnt even any crude to swap ![]() 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by rodbel(m): 10:25pm On May 20, 2016 |
obinna2nv: Sitting in the septic tanks of some corrupt fellow. With the dollarized election we had last year. I am not surprised we are in this poo hole. $115M dollars (inec-gate), $2bn/$15bn dasuki gate.. Mehn and the only source of forex has crashed. There was a country indeed. 2 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by kodded(m): 10:26pm On May 20, 2016 |
sbashir10:[img]http://sites.psu.edu/siowfa15/wp-content/uploadsaa/sites/29639/2015/09/2457004aa-crying2-256x300.jpg[/img] |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Nobody: 10:26pm On May 20, 2016 |
Sai Baba! Buhari is an economic infant! 1 Like 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by chigoizie7(m): 10:28pm On May 20, 2016 |
ijustdey: The problem we have is the government. They have never said the truth to us for once. I predicted all these in some of my posts, but some called me an ipod tout. The FGN knew there was scarcity of fX yet they pegged petrol @ 145 knowing fully well that these independent importers can not source for fX @ CbN rate of 199 where NNPC gets theirs to sell @ 145. But they expect these importers to source @ parallel market where dollars is sold for between 285-320 and still sell @ 145/lit? The cost of productions between NNPC and these marketers are not d same yet the FGN is forcing them to sell way below their cost prices, and u think it is possible? This is what will happen, dollar would be sold @ parallel market soon for above,N500/dollar. We all know the principles of demand and supply. The higher the demand, d higher the prices. Even @ the parallel market, there in scarcity of dollars, now imagine these marketers troop into the parallel market @ once to source for fX since FGN has thrown the pm's importation biz to anyone who can import. The limited fX in d parallel market will not even be enough for these importers sourcing for dollars. And because d demand is now high, they will increase to make more profit. Do u expect these importers to source at a higher prices and den sell pms @ 145? Hell NO, that will be selling way bellow their cost price as NNPC/FGN template used in calculating to arrive @ N145/lit was @ N199/dollar. The crux of it all is that, in few months time, we will buy petrol @ above N200/lit and exchange dollar @ above N400/$. However, this is a critical situation the FG found itself in. But how will d masses react when it hits N200 after all these current wahala of begging by FGN to peg it @ 145? God na your hand we dey, we never even see anything. Na now suffering to enter gear 5. Once price of pms increases, automatically,prices of all commodities in the market will increase, yet the workers salaries will remain the same, how will dey be able to meet all those demands? Come to think of it, how much of our foreign reserve in USD did buhari convert to chinesse currency? Abi some importers can't import pm's from china? 4 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by piagetskinner(m): 10:32pm On May 20, 2016 |
When shall we start having doses of good news in this country of ours 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Deen77: 10:33pm On May 20, 2016 |
ijustdey: What a country, waiting for years without building a refinery relying on importation. I support privatization but not Refinery and Electricity, they are capital intensive which only government can finance. Dangote refinery borrow $14 billion at 20% interest rates for 5 year's, that is $2.8 billion x 5 yrs = $14 billion. Capital $14 billion Interest for 5 years $14 billion Total $28 billion less profit. Masses to pay back. If is government financing $14 billion no interest on the masses. 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Luckki1001(m): 10:34pm On May 20, 2016 |
I have asked this qurstion before. Let me repeat myself: Why are we not leveraging on our recent China deal to import fuel FROM China? Given that the yuan (abi na yen) is N30 to one yuan, and China has about 28 major refineries (not counting the mushroom 'teapot' refineries which belong to individuals and/or private businesses and were licensed to export fuel/diesel in November last year), this is a no-brainer as the dollar will not be required to import fuel. And I am dead certain that China can meet our daily 22m litre of fuel demand daily! Over to you, economically sound Nigerians. Epp me answer the queshun above. Thank. ![]() 3 Likes 3 Shares |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by truthalways(m): 10:36pm On May 20, 2016 |
At what rate would they be getting the dollars? These guys can be very cunny, they can collect at 199 and go sell in the black market at 345. Please let's thread carefully... Most Nigerians can't be trusted; its sad to say but its the plain truth. Wonder if the cbn could be paying the suppliers the dollars by themselves Just random thoughts here 2 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Grundig: 10:37pm On May 20, 2016 |
These guys are just being lazy and cheap. Approach the banks/financial instittion in country where you intend to buy PMS. Tender your case. agree on exchange then voila. 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by dahmie2013: 10:37pm On May 20, 2016 |
But Kachikwu said u ppl are "bullish". Find d Forex naaaa! |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Deen77: 10:43pm On May 20, 2016 |
ENDTIMELIFE: Sorry this started since 2014 under PDP, is gradual collapse. Ready your Bible story of Joseph, seven fat Cow's and seven lien Cow's. Seven years of surplus and Seven years of famine, we failed to save and build refinery when we have the Oil boom. 6 Likes
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Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by carlzy: 10:44pm On May 20, 2016 |
All Buhari gives are excuses to inflict hardship on the masses. Buhari is fast bringing famine to Nigerians. Endtime president! 2 Likes 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by Deen77: 10:45pm On May 20, 2016 |
Agimor: https://www.nairaland.com/3016147/flash-back-okonjos-excuse-borrowing |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by GWMI(m): 10:49pm On May 20, 2016 |
Buhari is ruining this nation and to say our most educated people are in support of him, make me to question their educational stability.Honestly I feel ashame of the Yorubas in this dispensation that they have gone mute while Buhari runing the country unpside down, keep me wondering whether they are humans.Only God will help us.Thanks. 1 Like 2 Shares |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by GBYB: 10:52pm On May 20, 2016 |
rodbel:They no longer have the monopoly. That's what the deregulation is about. You sound very smart nd I suggest you go into the business, act like a real business man nd source for the dollar through that genius means so dt Nigeria will be better for us all. 2 Likes |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by bubu2019: 10:52pm On May 20, 2016 |
Agimor:I'm planning to relocate to my village, at least nobody will border me with petrol wahalla, na mpanaka we de use dia 1 Like 1 Share |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by mastengsynergy: 10:53pm On May 20, 2016 |
A clueless Government at its peak! 1 Like |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by pole: 10:54pm On May 20, 2016 |
WHY Dont Our President ,I Mean The Charman Repear Our Refineries All Dose Looted Fund Dat Was Return Were S It,at Some Wil Do It,well Why Bordring My Self |
Re: Oil Marketers Lament Forex Scarcity, Fuel Scarcity Imminent by rodbel(m): 11:10pm On May 20, 2016 |
GBYB: Whoelse is competing with their import biz? The moribund refineries? Or the insufficient import by NNPC. If that ain't monopoly I wonder what it is... we need our refineries working.. the real businessmen will be separated from the opportunist when the market becomes less attractive with NNPC pushing locally refined into the market. 1 Like |
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