• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

Fuel scarcity: Why marketers can no longer sell petrol at N165/litre in Nigeria

...the current pump price is no longer sustainable.

Abiola Odutola by Abiola Odutola
June 24, 2022
in Energy
petrol prices

petrol prices

Share on FacebookShare on TwitterShare on Linkedin

It is no longer sustainable for the marketers of the Premium Motor Spirit (PMS), popularly known as petrol, to sell at N165 per litre anywhere in Nigeria. This is because they now buy the product for about N170/litre in some private depots.

This was disclosed by the National President, Natural Oil and Gas Suppliers Association, Bennett Korie, via a statement issued.

Also, the Deputy National President, Independent Petroleum Marketers Association of Nigeria, Zarma Mustapha admitted that the current pump price is no longer sustainable and that the stakeholders have made this known to the Federal Government.

RelatedStories

FG orders filling stations to accept bank transfer, POS payments, threatens to sanction defaulters

Fuel scarcity looms as IPMAN threatens strike over N100 billion debt owed by NMDPRA 

February 24, 2025
Nigeria will maximise fossil fuels despite global campaigns for energy transition – Lokpobiri

“Deregulation of downstream sector prevented fuel scarcity during festive season” – Lokpobiri

December 29, 2024

What they are saying

Korie said, “Nigerians would have to adjust to the current reality, as it was no more feasible to dispense petrol at the approved rate of N165/litre in filling stations after purchasing the product for about N170/litre in some private depots.

“So, everybody is suffering and the only way out is for Nigerians to take or accept a little increase in petrol price. This will also ensure that the foreign exchange spent on petrol subsidy is reduced for us to have forex for diesel imports too.

“If not our construction companies, industries, hotels, etc, will all come to a standstill because they will not be able to buy diesel. You use diesel to get fuel to fillings stations, you use it to run the generators of various businesses in Nigeria because there is no light across the country. So, this is the only way out.

“You can’t buy petrol at a high price and sell this low. Crude oil is about $130/barrel, the cost of fuel, if you hear it, you will run away; but you are selling at N165/litre. So definitely you don’t expect money to remain for government to run other activities when it spends heavily on subsidy.”

Adding to the matter, Mustapha said, “Current pump price is no longer sustainable and we have made this know to the government. However, we must acknowledge the efforts of the Nigerian National Petroleum Company Limited in ensuring product availability.”

In case you missed it

  • Fuel scarcity returned to some parts of the country as long queues resurfaced in many filling stations that have fuel while many others were shut for lack of the product.
  • IPMAN had explained that the decision of some of its members to shut down their operations was because they no longer want to operate at a loss as well as not want to operate under hostile conditions.
  • Nairametris had reported that an estimated 15.64 million litres of petrol are smuggled out of Nigerian daily. Nigerian petroleum products retail on average 3.7 times cheaper than those of its neighbours, which has given smugglers unfair possibilities for arbitrage.
  • This has led to the smuggling of an estimated 15.64 million gallons of petroleum products out of Nigeria in August 2021. This was disclosed by Chapel Hill Denham in a document titled “Dangote Refinery can provide the needed breather for Nigeria’s public finances”
  • The withdrawal of subsidies, according to the research, could accelerate an already pressured inflationary trend, but a stronger fiscal position’s positive spillover could lessen the impact on disadvantaged Nigerians.

Follow us for Breaking News and Market Intelligence.
Tags: Fuel scarcityMarkersters of Petrol
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

FG orders filling stations to accept bank transfer, POS payments, threatens to sanction defaulters
Energy

Fuel scarcity looms as IPMAN threatens strike over N100 billion debt owed by NMDPRA 

February 24, 2025
Nigeria will maximise fossil fuels despite global campaigns for energy transition – Lokpobiri
Energy

“Deregulation of downstream sector prevented fuel scarcity during festive season” – Lokpobiri

December 29, 2024
NNPC no longer owns 20% of Dangote Refinery, says Aliko Dangote
Energy

Fuel scarcity: Petrol available at our refinery, come and lift supply – Dangote tells NNPC, Marketers 

October 29, 2024
Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN
Energy

Dangote Refinery’s price forecast sparks mixed reactions as petrol hits N1,000 per liter  

September 2, 2024
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Energy

NNPC finally admits debts owed to oil traders responsible for fuel scarcity  

September 1, 2024
PMS, NNPC
Energy

Fuel Scarcity: We no longer get products from NNPC, depots sell to us for N850 — Marketers  

August 20, 2024
Next Post
Jeff

See the latest investments of world's richest billionaires, Elon Musk and Jeff Bezos

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Dove deodorant, soap pose harm to user’s reproductive system, unborn child- NAFDAC 
  • NIMC denies blocking Nigeria Police from accessing NIN database  
  • AI boom increasing tech sector’s carbon emission globally, says ITU  

Follow us on social media:

Recent News

Steps to follow in getting a NAFDAC registration for your business in 2024

Dove deodorant, soap pose harm to user’s reproductive system, unborn child- NAFDAC 

June 5, 2025
NIMC, world Bank

NIMC denies blocking Nigeria Police from accessing NIN database  

June 5, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics