Osatuyi said the Nigerian National Petroleum Corporation (NNPC) has been the sole importer of petrol and few markets operating crude for refined white products under the name, Direct Supply Direct Purchase (DSDP), which negates the principle of market deregulation of the sector.
According to him, government monopolising importation of petrol has negated the principle of equal participation.
“There is a need for the government to allow other players into the market to import petrol by making forex available at CBN official rate as promised severally by the Minister of State for Petroleum, His Excellency, Mr Timipre Sylva”.
Osatuyi said: “Government announced full deregulation of PMS (petrol) in March 2020 but we witnessed price band control up to August 2020.
The protesting workers, who locked up the first and second gates leading into the firm, told newsmen in Makurdi Thursday that the protest would continue until their demands are met.
Speaking on behalf of the protesters, a Supervisor, Iorbee, said since Monday when they began the protest, the authority of the firm had not deemed it fit to address them or paid monies owed to them.
Iorbee said those who have not been paid include security guards and cleaners, who are owed between five months and one year.
“We won’t allow any work here until we are fully paid,” he said.
A COMMUNIQUÉ ISSUED AT THE END OF THE NIGERIAN GAS ASSOCIATION (NGA) INDUSTRY MULTILOGUES 2: 12TH INTERNATIONAL CONFERENCE EDITION HELD VIRTUALLY ON THURSDAY, FEBRUARY 25 AND FRIDAY, FEBRUARY 26, 2021 WITH THE THEME “POWERING FORWARD: ENABLING NIGERIA’S INDUSTRIALISATION VIA GAS”
The Nigerian Gas Association (NGA) hosted the second edition of its Industry Multilogues, rendered through its 12th biennial International Conference & Awards platforms, on February 25 and 26, 2021.
As was the first edition of the Multilogues, the 2-day event hosted virtually in conformance with COVID-19 protocols, featured over 300 participants across the continents of Asia, Europe, Africa, North and South America, and 35 local and international speakers comprising the Governor of Lagos State, Mr. Babajide Sanwo-Olu; Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva; Presidentof International Gas Union (IGU), Dr Joe Kang; the GMD of NNPC, Mallam Mele Kyari;and the Executive
Nigeria: Forex Scarcity Still Hampers Petrol Importation By Marketers allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Peter Uzoho
Marketers of petroleum products have said they are yet to go back to the importation business due to their inability to access foreign exchange.
According to them, sourcing dollars at the official market rate remains a challenge to them due to its scarcity, adding that they could not go to the black market in search of forex because of the cost implication.
This is happening months after the federal government said it had removed petrol subsidy, deregulated the downstream petroleum industry and had given private marketers permission to resume importation of petroleum products
The petroleum marketers including the Major Oil Marketers Association of Nigeria (MOMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have continued to depend on the Petroleum Products Marketing Company (PPMC), the petrol importing arm of the Nigerian National Petroleum Corporation (NNPC) for th