by Staff writer
Nigerian oil marketers accept proposed a novel heart cost of N165 per litre for petrol, Nigerian Leadership reports.
The marketers claimed that the subsisting cost of N145 per litre is no longer sustainable due to the scarcity of unusual central to finance fuel importation.
They lamented that the electrical flow cost is driving them out of business.
In a missive of the alphabet submitted past times the Petroleum as well as Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to the chairman, House of Representatives ad-hoc commission on review of heart cost of premium motor spirit [petrol], the marketers argued that inward May 2016 when the cost of petrol was reviewed from N97 to N145 per litre, the central charge per unit of measurement was based on N285 to a dollar.
They noted that from June 2016 till date, the central charge per unit of measurement had been fluctuating betwixt N305 as well as N490 to a dollar, as well as argued that the cost of production amongst freight charges as well as other cost elements inward the Petroleum Products Pricing as well as Regulatory Agency (PPPRA) template volition convey the landing cost to N145.09 per litre at the official charge per unit of measurement of N305 per dollar, or N222.23 per litre using the parallel marketplace charge per unit of measurement of N490 to a dollar.
The marketers hence proposed N165 per litre to encompass the cost of forex required for products importation, every bit the gratis autumn of the naira against the dollar is seriously impacting on the heart price.
This evolution volition farther weaken the country’s crippled economic scheme every bit cost of goods are straight influenced past times petrol heart price.
As Oct 2016, Nigeria’s annual nitty-gritty inflation charge per unit of measurement rose to 18.1%, the cost of imported goods increased to 21.1% from 19.2 as well as the cost of nutrient increased past times 17.1 % from 16.6 inward September 2016.
Fuel cost was increased from N86.5 to N145 inward May 2016.
Nigeria has a full of iv refineries, 2 inward Port Harcourt (PHRC), as well as ane each inward Kaduna (KRPC) as well as Warri (WRPC). The refineries accept a combined installed capacity of 445,000 bpd, according to petrol regulatory commission NNPC.
However, due to pathetic maintenance as well as negligence, the productivity of the refineries has dwindled over the years as well as to come across the nation's high dependence on petrol for powering generators [Nigeria's alone promise for a stable provide of electricity], the province had to resort to importation. Sumber http://www.dnbstories.com/
Nigerian oil marketers accept proposed a novel heart cost of N165 per litre for petrol, Nigerian Leadership reports.
The marketers claimed that the subsisting cost of N145 per litre is no longer sustainable due to the scarcity of unusual central to finance fuel importation.
They lamented that the electrical flow cost is driving them out of business.
In a missive of the alphabet submitted past times the Petroleum as well as Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to the chairman, House of Representatives ad-hoc commission on review of heart cost of premium motor spirit [petrol], the marketers argued that inward May 2016 when the cost of petrol was reviewed from N97 to N145 per litre, the central charge per unit of measurement was based on N285 to a dollar.
They noted that from June 2016 till date, the central charge per unit of measurement had been fluctuating betwixt N305 as well as N490 to a dollar, as well as argued that the cost of production amongst freight charges as well as other cost elements inward the Petroleum Products Pricing as well as Regulatory Agency (PPPRA) template volition convey the landing cost to N145.09 per litre at the official charge per unit of measurement of N305 per dollar, or N222.23 per litre using the parallel marketplace charge per unit of measurement of N490 to a dollar.
The marketers hence proposed N165 per litre to encompass the cost of forex required for products importation, every bit the gratis autumn of the naira against the dollar is seriously impacting on the heart price.
This evolution volition farther weaken the country’s crippled economic scheme every bit cost of goods are straight influenced past times petrol heart price.
As Oct 2016, Nigeria’s annual nitty-gritty inflation charge per unit of measurement rose to 18.1%, the cost of imported goods increased to 21.1% from 19.2 as well as the cost of nutrient increased past times 17.1 % from 16.6 inward September 2016.
Fuel cost was increased from N86.5 to N145 inward May 2016.
Nigeria has a full of iv refineries, 2 inward Port Harcourt (PHRC), as well as ane each inward Kaduna (KRPC) as well as Warri (WRPC). The refineries accept a combined installed capacity of 445,000 bpd, according to petrol regulatory commission NNPC.
However, due to pathetic maintenance as well as negligence, the productivity of the refineries has dwindled over the years as well as to come across the nation's high dependence on petrol for powering generators [Nigeria's alone promise for a stable provide of electricity], the province had to resort to importation. Sumber http://www.dnbstories.com/