The Group General Manager, Crude Oil Marketing Department of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said that the sale of petrol at N145 per litre is not sustaining due to the current economic recession.
Kyari stated this while speaking at the 10th Oil Trading and Logistics Africa Downstream Week in Lagos.
According to Kyari, the current economic downturn has made it impossible to import petroleum products at the current market price and at the current fixed foreign exchange rate and still make profit as well as recovered the capital invested in importation.
He said despite the harsh realities surrounding importation, government isn’t planning on increasing the pump price of petrol.
“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. 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”he said
na to bomb dis una tower 4 abj make we know de reason for fuel increasement
Increase it to 500 fools
brother every thing dey your side money no be problem na for your side money stop nonsense you live make dey sale 550 for your compound only
Pls view my comment positively
Sabastine,dnt u read?
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!!!.
And for the prophet that said he see fuel sellinq at N45 per litr i suggest we take him to an eye clinic nearby bcos hes qoinq blind.
not only his eye dey need to open he head then look the Brain if any wire dey contact
Lol
Sir Bas you are right
50 people to start protest the whole niger go follow. BUHARI fada name na jail he go jail the whole country people. he go be the first President to arrest the whole citizens of he country
E bi lik say Ogun won kill all of una. When una promise say litre go be #45 we happy oooo we no knw say na hide una hide the 1 wey dey in front of the 45 we still dey manage, dey patch ham for nigga cus we gass survive now una won increase the money Holy Ghost Fire destroy all of una. I no blame when bi say una just dey take fuel anyhow without payment how una go take knw say chicken they sweat(masses) baba God go judge una. You all rust in HELL. Bingo
Hhmmm….. It’s just quite unfortunatel…. I don’t think these people understand the plight of Nigerians….
one kobo added to a litre and we will serue ourselves,we are systematically being turned into slaves in this country by the capitalist,they should not take our patience for weakness,thats how it started in tunisia that ignated arab spring,do they want niggers spring too ?
The kind thunder wey go fire dis government eh, is still dey do rehaser for sambisa forest.
Y don’t y’all just making it N1k/liter so I will pay with my blood? The way I see it, we don’t even need a nuclear bomb to turn Nigeria into a waste land. We already have enough human nukes and wasteland we shall become in no time…