The Group General Manager, Crude Oil Marketing Department of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, has said the nation’s difficult business environment may make it difficult to sustain the current pump price of petrol.

He spoke at the 10th Oil Trading and Logistics Africa Downstream Week in Lagos, where he also said it was impossible to import products at the current market price, at current fixed foreign exchange rate and recovered one’s money.

He said marketers that are currently selling below N145/litre are doing so because they are not the importers of the fuel. “Because we (NNPC) have taken the heat, and you buy from us you can afford to go to the market and then put a ridiculous price. It is not possible, because they did not import it.”

However, Kyari ruled out the possibility of increasing the pump price by government due to the economic hardship in the country, saying, “It is impossible for this government to announce tomorrow that petrol is about N150. This government cannot sustain it. That is the truth. The people will not take that number. But that is why the suppliers now are not importing. It is not about the foreign exchange.”

He said “we are in subsidy regime absolutely, there is no way you bring product today and take it and sell at N145 and get back your money, and make profit. That is not possible. You can see some marketers saying that fuel is N138. It is because they did not import. Somebody has taken the heat of the price.

Speaking, the Speaker of House of Representatives, Yakubu Dogara, who was represented by Chairman, House Committee on Downstream, Joseph Akinlaja, said the lower house was committed to reviewing and improving legislation regarding refining and key areas in the downstream sector operations in the country.

http://www.dailytrust.com.ng/news/general/petrol-n145-per-litre-not-sustainable--nnpc/168470.html

www.nairaland.com/attachments/2738746_dd4b7ff09ac34f4681f5db042af98c65_jpeg6791aae01362071965b74d6cb3e33b6c

OK...

Continue to take the heat...

So what do you want? Make retail price N200? Just continue...

Useless government

2019 is very close, Nigerian shall decide

He said “we are in subsidy regime absolutely, there is no way you bring product today and take it and sell at N145and get back your money, and make profit. That is not possible

This is not possible.. I just hope my eyes are seriously deceiving me on this

Can somebody confirm whether he or she saw that subsidy part on that post or is it just me??

Mr Mele Kyari this is not what you guys made us believe.. I thought you said all marketers to themselves to import and sell not above the price of 145 how come there's still subsidy??

It's like the spirit of Lia Mohammed has been given to some people in every ministry

But before I go Mr Kyari how much subsidy is this government paying??

I twale for this cabal sha

Life is good with LG ELECTRONICS

However, Kyari ruled out the possibility of increasing the pump price by government due to the economic hardship in the country,
saying, “It is impossible for this government to
announce tomorrow that petrol is about N150.
This government cannot sustain it. That is the
truth. The people will not take that number.

Toh. Whatever you must do, make sure it doesn't go beyond that cap, 145, otherwise, I foresee a repeat of 2012.

Baba, take note.

Heheheheh. ..We are waiting for out Lord and saviour dangote to save our downstream sector...

Oh dangote

omenka:
Toh. Whatever you must do, make sure it doesn't go beyond that cap, 145, otherwise, I foresee a repeat of 2012.

Baba, take note.

how about the subsidy didn't you read anything about it??

Can you please enlighten me on that

Assuming it was Jonathan doing all the increasing, we would have seen NLC and many musicians in the streets in the name of protesting.

The best government so far.

It is unfortunate that this government wouldn't do anything positive for the masses. We behooves on us do the needy come 2019.


l

omenka:
Toh. Whatever you must do, make sure it doesn't go beyond that cap, 145, otherwise, I foresee a repeat of 2012.

Baba, take note.

I thought Buhari never believed there was subsidy during Jonathan's government. I thought you guys believed Buhari will "stabilise" oil price

You guys were just deceiving yourselves. I never believed those bullcrap from the very beginning.

I thought APC Planned to sell Petrol for N45 per liter, how come they are still hell bent on increasing the prize.
Buhari needs to be told that failure in fulfilling Campaign Promises is Corruption, Big Time.

Hhhahahahhhaah! Where is Tam David-West?

He so decried that Nigerians are buying fuel at exorbitant price of N87/litre. That Buhari will sell at N45/litre. Now that even N145/litre is unsustainable, where is he?

Where is Tunde Bakere?

Elisean:
The best government so far.

Even Die Hard Zombies will not Agree to this, Hunger has a way of Reseting “Read Only Memory” ROM.

ShowYourCertificate:
I thought Buhari never believed there was subsidy during Jonathan's government. I thought you guys believed Buhari will "stabilise" oil price

You guys were just deceiving yourselves. I never believed those bullcrap from the very beginning.

Only those self deceiving and gullible citizens believed the propaganda of apc/buhari. Now, it is too late he is now in Aso Rock. And even his wife knows he is incompetent! She so convinced to the point of unendorsing him for reelection. Apc scam!

In hindsight, I totally regret going out to Ojota in 2012 to protest against Jonathan. I thought I was being a patriotic citizen. Now, who has history vindicated?

.

What type of Demon is disturbing those guys at NNPC? I dont understand this yeye story because some filling stations are begging customers to come and buy at N141.


This is cock and bull story. We don't want to hear any subsidy ish!

I thought Sai baba was going to sell fuel for 60 naira litre what happened

ShowYourCertificate:
I thought Buhari never believed there was subsidy during Jonathan's government. I thought you guys believed Buhari will "stabilise" oil price

You guys were just deceiving yourselves. I never believed those bullcrap from the very beginning.

So many lies were told to garner enough votes to win the presidential election. Unfortunately, many electorate were taken in by the lies.

I have always maintained that the government should quit fixing the price of petrol. The price of the product should be left to the dictates of the forces of demand and supply. No matter how hard the government tries, it cannot maintain the current price regime.

So what are you saying....? You wan increase am again? Abi olori buruku lawon people yi ni?

Shut up my friend!

People will dance naked on the streets if they try nonsense!

Hmmm, evil people dey this world shaaaa, when Jonathan was in power and petrol was selling for N145/litre. Them witches and wizards were busy shouting up and down, person nor hear word one day but now i nor hear one single noise from anybody again.
.
All of una go die, i swear to God all of una go die, foolish people thunder go destroy all of una. Most expecially the Afonjas, if the mods one ban me make them ban because i dey vex this morning, a bag of rice is now 29k. But i know why the Afonjas are not filling the heat, i heard things are cheap in Lagos. I heard a bag of rice is 23k there but no wahala.
.
40N indomie is now 80N
a cup of rice of 40N is now 130N
small bottle of oil of N30 is now N100
e.t.c. Smh
.
.
I nor dey fit dey eat well again, yesterday hunger one kill me throway i hungry from morning till after 7 for eveling yet nothing to chop, na so so water i drink full belle through out yesterday.
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Work wen i learn, i nor dey get work again. I dun carry block i dun tire.
I cook beans on sunday, just ordinary beans no oil no stew i manage eat am like that, no papa no mama to support. Inshort i dun even tire for this life self. When Jonathan was in power i din't experience any of this i havve a little savings then but now nothing nothing. Common 10N to buy biscuit take hold belle yesterday i nor see. Nothing nothing atall. Smh i dun tire

In less than 48hts after a prophet prophesied that fuel will sell at about N40....

i no even understand dis pple again even if d economy gt brain d thing don confuse.