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JUST IN: Petrol: Marketers Lamenting as Nigerians Shun Buying Above N1000/Litre

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With the price of a litre of petrol now above ₦1,000 in most filling stations across Nigeria, petrol marketers have lamented low patronage at their retail outlets nationwide.

They said marketers are now cutting workers and shifts because of high pricing and low returns on investment.

The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, was in an interview on Monday with a spokesman for the Independent Petroleum Marketers Association of Nigeria (IPMAN),Ukadike Chinedu.

Gillis-Harry said, “Marketers, retail outlet owners, all of us in the industry are finding it difficult to cope with the current situation, we used to buy 45,000 litres of fuel a couple of months ago for less than 8.5 million naira but today, we have to cough out about 49 million naira to buy the product.

“Financial institutions are not coming to our rescue. The cost of money is so high, it is so difficult to even sell, what we get to our retail outlets is not quickly bought because Nigerians also have the challenge with their buying power.”

On his part, IPMAN spokesman Ukadike Chinedu said filling stations nationwide have become ghost places as middle-class Nigerians have abandoned their vehicles and embraced public transportation.

“Most of the money we use in investing is bank money. It’s being borrowed and the interest rate is also high. There is no return on investment because the more we sell, the more we make profits,” Chinedu said.

“Now the volume of trade in the filling stations is very low because of the characteristics of the buyers who have now dropped some of their luxury vehicles with V8 and are now using alternative transportation.

“If you check some of the filling stations these days, you will find out that there is skeletal or ghost buying, two, or three cars will just come in and buy. We are no longer talking about scarcity, we are now talking about price differentials.

”The two unions urged President Bola Tinubu to provide ₦100bn as a seed fund for oil marketers to stay afloat, just like the aviation and agricultural sectors.

Nigerians are grappling with the weight of unprecedented food inflation, and energy prices which have quadrupled in the last year under the Tinubu administration.

Specifically, the price per litre of petrol jumped from less than ₦200 to over ₦1,000. Many people have blamed the twin policies of petrol subsidy removal and unification of forex rates for the high living costs that have assailed the middle class.

Citizens have staged two major protests to drive home their grievances against the Tinubu administration and pressured the All Progressives Congress (APC) government to reverse its “reforms” but the current administration has insisted that its policies are necessary and won’t be reversed.

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FG Supports Tomato, Pepper Sellers Too, Not Just ‘Akara’ — Remi Tinubu

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Nigeria’s First Lady, Senator Oluremi Tinubu, has clarified that the Federal Government’s support for small-scale traders extends beyond ‘akara’ sellers to include tomato and pepper sellers across the country.

Speaking at an event, Mrs. Tinubu emphasized the government’s commitment to empowering various categories of informal traders and food vendors.

“Not only ‘akara’, FG also supports tomato, pepper sellers,” she stated.

The First Lady’s remark appears to address recent discussions and criticisms regarding government intervention programmes for petty traders. She highlighted that initiatives aimed at supporting small businesses cover a wide range of essential food items and vendors, including those dealing in tomatoes and peppers, which are staple commodities in Nigerian markets.

Mrs. Tinubu reassured citizens that the administration remains focused on inclusive economic support for vulnerable groups and market women. She noted that such interventions are designed to cushion the effects of economic hardship and promote self-reliance among small-scale entrepreneurs.

The statement has sparked reactions on social media, with many commending the First Lady’s direct engagement while others called for more visible and widespread implementation of the support programmes.

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Insecurity: NSCIA fumes “Enough is Enough” over attacks on Islam and Muslims in Nigeria

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

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Photo: Sultan of Sokoto Muhammad Sa’ad Abubakar III

The umbrella body of Muslims community in Nigeria (Nigerian Supreme Council for Islamic Affairs (NSCIA) has warned the Federal Government and security agencies to act before Muslims ‘run out of patience’.

According to the NSCIA,the community’s continued restraint amid what it described as persistent attacks, profiling and marginalisation should not be mistaken for weakness.

The warning was contained in a statement by the NSCIA’s Public Affairs Officer, Abbas Jimoh, on behalf of the council led by its President-General and Sultan of Sokoto, His Eminence Alhaji Muhammad Sa’ad Abubakar.

The NSCIA also called on the government to ensure that those responsible for what it described as heinous crimes in Kaduna and Benue states were brought to justice without delay.

“While the NSCIA continues to appeal to Muslims for continuous restraint, it is imperative that government and security agencies should act decisively before the Muslims run out of patience in the light of persistent attacks and unbridled marginalization,” the council said.

The council urged the authorities to rein in what it described as persistent attacks on Islam and Muslims in public spaces, saying that was essential to preserving peace and national cohesion.

“The barrage of open assaults on the integrity of Islam and the Muslims in public spaces should be checked in the interest of peace and order. Enough is enough,” the statement added.

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NYSC to be headed by civilians under new reforms

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

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The Federal Government has approved sweeping reforms to the National Youth Service Corps, NYSC, announcing that the scheme will now be headed by a civilian instead of a military officer.

The approval was announced to State House correspondents after the FEC meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.

To give legal backing to the reforms, the Federal Executive Council directed the Attorney-General of the Federation, in collaboration with the Ministry of Youth Development, to amend the NYSC Act and its regulations to facilitate the immediate implementation of the approved changes.

The Minister of Youth Development, Ayodele Olawande, said that the reforms would also introduce professional training programmes for corps members to enhance their employability and entrepreneurial skills.

He explained that the NYSC would retain its one-year service duration while incorporating flexible, skills-based training programmes into the service year.

Under the new framework, he said, the scheme would remain civilian-led, while the Nigerian military would continue to be responsible for the security of corps members nationwide.

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