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Nairaland Forum / Nairaland / General / Politics / We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. (1266 Views)
Oil Marketers ‘Plot’ Kachikwu's Removal / Release Nnamdi Kanu - Nigerian Artists Tell FG / We Won't Import Fuel Unless CBN Provides Forex,' Oil Marketers Tell FG (2) (3) (4)
We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Nobody: 8:00pm On May 21, 2016 |
The marketers said except the CBN provides
foreign exchange to import fuel, the recent subsidy
payment they received from the
government will remain in their naira accounts. Oil
marketers on Friday, May 20, lamented that they
are unable to import fuel due to the unavailability of
foreign exchange.
The marketers, under the umbrella of the Depot and
Petroleum Products Marketers Association of
Nigeria (DPPMAN), are appealing to the Federal
Government to assist them in making foreign
exchange available. They made the plea during a
meeting at the headquarters of the Ministry of
Finance.
The meeting was chaired by the Minister of Finance,
Kemi Adeosun, and attended by Chief Executive
Officers of 46 major oil companies in the country.
The agenda was to discuss salient issues affecting
the downstream sector of the petroleum industry.
Chairman of DAPPMAN, Dapo Abiodun, told the
minister that members of the association finding it
difficult to convert some of the naira payments
made by the government to dollars. He said their
inability to convert these payments from the Federal
Government from naira to dollar is making it almost
impossible for them to meet their obligations to their
foreign partners.
He said while the oil marketers will continue to do
their best in importing petroleum products into the
country, the unavailability of foreign exchange might
make it challenging to achieve such objective. The
Federal Government this week announced that it
has paid the oil marketers N48.2 billion minus value
added tax as the arrears of outstanding 2015
subsidy claims.
According to Adeosun, the payment is to enable the
marketers import petroleum products and meet up
their other financial needs. Abiodun however said
except the Central Bank of Nigeria (CBN) provides
foreign exchange to them, the payment will remain
in their naira accounts.
He said: “We want to thank you for the recent
payment of about N42 billion but we want to
emphasise the fact that this naira payment will
continue to sit in our banks. “We look forward to
dialoguing with you as to how you can help us
expedite the sourcing of foreign exchange to
liquidate our exposures to our foreign bankers that
we have line of credit with.
“We are very worried about going into a new
dynamics in which marketers are now going to be
sourcing forex at the rate that they can find, which
we have approximated to around N285 to a dollar.
“We believe that it is a quick fix solution to all the
epileptic supply of petroleum products in the
county.
“However, we still have this naira sitting in our
account from previous transactions and we are
worried that if anything happens to the rate of
exchange officially, we are going to be caught in
between. “We do not want to come back to you to
ask for foreign exchange differentials which issue
we still have pending from previous transactions.”
Adeosun said the recent subsidy payment released
to the oil marketers is one of the liabilities inherited
from the Goodluck Jonathan administration. While
expressing optimism that the reforms currently
being implemented in the oil sector would restore
confidence in the market, she said assured that
government will continue to ensure the availability
of petroleum products in the county.” 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by DickDastardly(m): 8:02pm On May 21, 2016 |
Buhari Sef! 2 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Luckylife(m): 8:02pm On May 21, 2016 |
Really! |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Flexherbal(m): 8:03pm On May 21, 2016 |
What is wrong in this country? 6 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by mrvitalis(m): 8:11pm On May 21, 2016 |
This people are not serious u want to get dollars at 199/$ and sale fuel at 145?? Better buy module refineries to feed ur feeling stations bunch of over pampad babies feed by subsidy milk 2 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by peacengine(m): 8:11pm On May 21, 2016 |
Pathetic Government. How can dey refuse to sell forex at the official price to marketers but expect them to purchase it at the black market? What have we done to deserve this crazy set of leaders? If marketers buy from black market wouldn't this mean we will pay more for fuel? APC Anuofia! 7 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by MrPeterson(m): 8:38pm On May 21, 2016 |
The simple solution to this is to make d refineries work . But the sad thing is that some avengers are busy blowing up the line. |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Checked86: 8:51pm On May 21, 2016 |
Op, please sauce (provide source of your post) this your post. FG is getting everything wrong. Oil marketers now have no option but to depend on them(CBN). If they(marketers) should source forex at the black market, fuel will be selling, may be, at #200 per litre. 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by olalat(m): 9:05pm On May 21, 2016 |
You are just a pathetic goat who know nothing and refuse to learn. Why are u people creating nuisance all over internet whth ur stupid posts. Is foolishness innate thing to u. What do u expect govt to do in this situation. Hatred has really blocked ur sense of reasoning. Cant u see that those people want to armtwist d govt by secure fx at 198 and sell fuel to us at N145 per litre. You people should at least use ur sense small nah. Haba! How far was ur life under jonathan self. peacengine: 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by peacengine(m): 9:11pm On May 21, 2016 |
[s][/s] olalat:[s][/s] My life under Jonathan was heaven on earth. How is your own life under Buhari? You are facing endless hardship yet you still dey spew trash. Get da fvcck off my mention 12 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Nobody: 9:19pm On May 21, 2016 |
Ha ha ha ha ha ha It appears it's not only the NDA, NLC and IBOB that are against this foolish and cursed government of bubu the dullard. Oil companies have join.... lobatan! Sipping my kunu in Daura 3 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by fistonati(m): 9:24pm On May 21, 2016 |
Government of All Personnel Confused APC This is what happens when you are not prepared for an office but wants to be in the office. When in the crowd, don't criticize someone in the crowd. 2 Likes |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by sanandreas(m): 9:45pm On May 21, 2016 |
We will sack buhari. He is fantastically unable to govern this country 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by 989900B: 9:50pm On May 21, 2016 |
FG got played . . . '19 tinz' Cabals 1 FG 0. I nor tell you? |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Abeymills(m): 9:54pm On May 21, 2016 |
Shameless govt 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by OlujobaSamuel: 9:56pm On May 21, 2016 |
hmmmmmm, get dollars at official rate, sell the commodity to us at parallel market rate. God go punish you people. 1 Like |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Nobody: 10:03pm On May 21, 2016 |
This cannot be true oooh |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Splinz(m): 10:13pm On May 21, 2016 |
Government of the zombies and for the zombies. |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by baby124: 10:15pm On May 21, 2016 |
FG should source for oil themselves. I mean through NNPC. Cut out the middle man and it will probably be even cheaper and cut down prices. Let's see if they will kill themselves these marketers. |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by alizma: 10:21pm On May 21, 2016 |
fake news, OP is the source but wailers are OK with that in as much is against this administration. |
Re: We Won’t Import Fuel Unless CBN Provides Forex -oil Marketers Tell FG. by Nobody: 11:13pm On May 21, 2016 |
olalat: Bro.. stop wailing... |
(1) (Reply)
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