Fuel Scarcity To Continue Till February 2016

By -

Indications have emerged that the ongoing scarcity of petroleum products across the country is one that would linger until February next year. This is as petroleum marketers are reported to have suspended fresh importation of petroleum products despite receiving N413 billion in subsidy claims from the government.

Some marketers who took news into confidence on the vexed issue specifically noted that the alleged plan by the Federal Government to remove subsidy on petrol next year and com­mence full deregulation by January 1, is already unsettling them.

Disclosing that they are in full support of the deregulation of the downstream sector, the marketers lamented that the secrecy surrounding its implementation and take-off date is already causing uncertainty within the sector.
According to an importer,
Quote
“Marketers are not against deregulation. But deregulation must be planned for. It must not be a hasty decision. We are entities that invest a lot in importation of petroleum products. If a decision that is to affect us must be taken, then, we must be taken into consideration. For now, uncertainty pervades the sector.”


A source said
Quote
“Nigerians are not considering the va­garies involved in deregula­tion. There are speculations that with deregulation, a li­tre of petrol would sell for N97, which is a possibility on one hand. But consid­ering the current price of crude oil which sells for about $38 per barrel, what if this price slides further in the weeks to come and the permutation declines to less than N87 for a litre, who bears the loss?”


The marketer maintained that all these certainties surrounding the downstream sector have further dealt a debilitating blow on the current fuel scarcity.

Comments

Post a Comment

Popular posts from this blog

DOWNLOAD FAST

By -
TO DOWNLO@D WHAT BROUGHT YOU HERE, CL!CK IM@GE BE-LOW AND DOWNLO@D STARTS AUTOMATICALLY Recently four scholarships of $10,500 each have been awarded annually, but the number and the amount is subject to change. Application Deadline:  February 2020 Eligible Countries:  International Type:  Master’s and Doctoral Value Of Scholarships:  $8,500 to $10,500 Number Of Awards:  4 Eligibility: Applicants must be International students Applicants must be a graduate (holder of a degree) of a Canadian university when the tenure of the program begins. Applicants must be fluent in English Language  Process:  A complete paper application consists of the following:
Read more

Scientists Discover New Form Of Carbon That Can Make Diamonds At Room Temperature

By -
Image
Scientists from North Carolina State University have discovered a new form of solid carbon, called Q-carbon, and it has some unusual properties: Q-carbon is ferromagnetic, harder than diamond, and glows when exposed to energy. These properties make it different from graphite and diamond (the other two possible forms of solid carbon, known as phases), and the researchers discovered that Q-carbon can be used to construct diamond structures at room temperature. To create Q-carbon, it's necessary to have two things: a source of carbon and a substrate, a material where the reaction can take place. The source is called amorphous carbon, where all the atoms are in a disorganized, irregular distribution. Coal is an example of amorphous carbon, while in this case the choice for the substrate was between sapphire, glass or plastic. The substrate was coated in a layer of amorphous carbon, and was then hit with a single laser pulse for about 200 nanoseconds, heating it to 4,000 Kelvins (3,726
Read more

Approved list of Unilag Endowment Awardees for2013/ 2014 Academic Session

By -
LIST S/ No SURNAME FIRST NAME OTHER NAME MATRIC NO DEPARTMENT 1 ELEMO Tolulope Nwabiani 090401021 CHEMICAL ENGINEERING 2 NLERUM Anne Ngozi 090401034 CHEMICAL ENGINEERING 3 AKINTUNDE Emmanuel Oluwadamilare 090402014 CIVIL & ENVIRONMENTAL ENGINEERING 4 ECHETA Odinakachukwu Chidinma 090402020 CIVIL & ENVIRONMENTAL ENGINEERING 5 KOMOLAFE Oladayo Opeyemi 090402035 CIVIL & ENVIRONMENTAL ENGINEERING 6 SHITTU Lanre Monsuru 090402052 CIVIL & ENVIRONMENTAL ENGINEERING 7 AGBA Obinna Stanley 090403009 ELECTRICAL & ELECTRONICS ENGINEERING 8 AGORO Sodiq Adeshina 090403011 ELECTRICAL & ELECTRONICS ENGINEERING 9 BELLO Adesoji Tolulope 090403030 ELECTRICAL & ELECTRONICS ENGINEERING 10 OGBUANU Kelechi Okechukwu 090404034 MECHANICAL ENGINEERING 11 YINUSA Ahmed Amoo 090404061 MECHANICAL ENGINEERING 12 EBISHUE Oluchukwu Michael 090405019 SURVEYING & GEOINFORMATICS 13 OSIFESO Mowaninuola Ibrahim 090405055 SURVEYING & GEOINFORMATICS 14 ADEOSUN Raheem Babatunde 090406006 ME
Read more