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Tag: Fuel scarcity

  • We’re tackling fuel scarcity, targeting price stability – NMDPRA

    We’re tackling fuel scarcity, targeting price stability – NMDPRA

    In a bid to address the worsening fuel scarcity and recent hike in petrol pump price, the Nigerian Midstream, Downstream Petroleum Regulatory Authority (NMDPRA) has intensified regulatory efforts to stabilise supply, which is expected to positively impact pricing.

    Ogbugo Kalu Ukoha, Executive Director, Distribution Systems, Storage & Retailing Infrastructure at NMDPRA, stated this to journalists at the State House, Abuja, after a meeting summoned by Vice President Kashim Shettima.

    Shettima on behalf of President Bola Ahmed Tinubu summoned a meeting with the authorities in the nation’s petroleum sector, to get to the roots of the recent petrol supply disruptions across the country and the sudden hiking of petrol pump price.

    The Nigerian National Petroleum Company (NNPC) Limited, on Tuesday directed its fuel sales outlets to increase their pump prices from the average of ₦617 to ₦897, a development which has almost instantly spiked prices, including market commodities and transportation, almost immediately.

    However, to get clarity on the situation and be abreast of steps being taken to reign the situation in, the Vice President called an emergency meeting, which was held at his office in the State House Abuja. 

    The meeting attracted Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; the National Security Adviser (NSA), Nuhu Ribadu; the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari; and Ukoha, the Executive Director at the NMDPRA, in attendance. 

    Speaking to journalists after the meeting, Ukoha explained that the regulator has increased operating hours at loading depots, ensured prompt clearance of vessels, and extended truck-out hours where safety permits.

    He also highlighted the reinforcement of support for local refiners, noting that increased production will lead to higher supply, stabilizing prices.

    “All regulatory efforts are now geared towards stabilizing supply, with a resultant impact that it will be positive also on the stability of price. 

    “To that objective, the regulator has ensured that there’s increased operating hours from all loading depots, vessels are being cleared promptly and extended hours, where safety can permit, for truck outs as well. 

    Read Also: Fuel scarcity: Experts urge Fed Govt to collaborate with local refineries

    “More importantly also is the reinforcement of the support being given to local refiners because with increased production from them, like the minister, has said, there will be higher supply, which will stabilize the price. That’s the effort that the regulator is making”, Ukoha said.

    Also speaking to journalists after the meeting, Minister of State for Petroleum Resources (Oil), Lokpobiri, reassured Nigerians of adequate availability of petroleum products, which he said are expected to circulate nationwide by the weekend.

    Lokpobiri emphasised that the President is empathetic about the hardship faced by Nigerians due to the fuel scarcity and recent price hike.

    He noted that the meeting was called to reflect on the situation and convey the President’s concern to Nigerians.

    The Minister stated that there is enough product in the country to meet the demands of Nigerians, and urged citizens not to engage in panic buying.

    He also clarified that the government is not fixing prices, as the sector is deregulated, and expressed optimism that with the availability of products, prices will stabilize.

    “We were summoned by the Vice President, who was directed by the President to summon this meeting and we’ve been with him to brief him about what is going on across the country. 

    “What is important is for us to convey to Nigerians that the President is empathetic about what is going on in the country. He is concerned about the hardship of Nigerians and that was why he directed the Vice President to call this meeting, for us to reflect on what is going on in the country.

    “What is important is that products are available in the country and we believe that between now and the weekend, there will be availability of products across the length and breadth of the country. 

    “The price could be high in some other areas, much higher in some other locations, and in some locations much more than other areas, but we believe that by the time there is availability of products across the country, the price itself will stabilized. 

    “But what is important is that government is not fixing prices, this sector is deregulated and we believe that with the availability of products, the price will find it’s level and this is important for Nigerians to know.

    “The summary is that President is empathetic about what’s going on, that’s why he directed this meeting. There is enough product in the country to be able to meet the demands of Nigerians, so there should be no panic buying and we also believe that Nigerians need to know that government is not fixing prices. That is what I want to convey to Nigerians,” Lopkobiri said.

  • Fuel scarcity: Experts urge Fed Govt to collaborate with local refineries

    Fuel scarcity: Experts urge Fed Govt to collaborate with local refineries

    Some experts in oil and gas business have urged the Federal Government to collaborate with local refineries to process the daily allocation of 445,000 barrels of crude oil for domestic use, based on a tolling arrangement.

    The experts gave the advice in interviews with the News Agency of Nigeria (NAN) yesterday in Lagos.

    NAN reports that the advice is coming amid fuel scarcity in the country.

    The Senior Independent Non-Executive Director at Seplat Energy Plc, Mr. Rabiu Bello, noted that collaborating with local refineries would help the government to secure petroleum products needed for domestic consumption and allow export of excess products.

    Bello said such a collaboration would enable the Dangote Petroleum Refinery and other local refineries to operate profitably and achieve over 65 per cent capacity utilisation without requiring substantial additional investments in crude oil supplies.

    He advised the Federal Government to conduct a forensic audit of NNPC/NNPCL’s financial records to assess the actual cost of importing and delivering petroleum products to Nigeria from 2012 to 2024.

    A member of the Major Oil Marketers Association of Nigeria, Mr. Tunji Oyebanji, called for full implementation of the Petroleum Industry Act (PIA).

    Read Also: Poor distribution system causing fuel scarcity, says PENGASSAN

    He said the PIA would allow market forces to determine petrol price and reduce financial burden on importers and local refineries.

    An oil and gas consultant, Mr. Henry Adigun, also called for full implementation of the PIA to streamline operations in Nigeria’s downstream sector of Nigeria’s petroleum industry.

    Adigun said the current fuel scarcity could be mitigated if the government could pay outstanding debts to importers and allow fuel prices to return to market levels.

    The Chief Corporate Communications Officer at NNPC Limited, Mr. Olufemi Soneye, had, on Sunday, acknowledged that the company was facing financial strains due to high cost of  petrol also known as Premium Motor Spirit (PMS).

    He said the increased cost was affecting the sustainability of fuel distribution.

    Soneye gave the assurance that NNPC Limited remained committed to its roles and was working with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products.

  • Protest in Abuja over fuel scarcity

    Protest in Abuja over fuel scarcity

    Several demonstrators hit the streets of Abuja to demand the immediate dismissal of the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Limited, Mele Kyari, over the lingering fuel scarcity.

    The protest came out on the heels of the Nigerian National Petroleum Corporation Limited’s confession that its substantial debt to suppliers was endangering the sustainable fuel supply.

    Among other things, the corporation highlighted the financial strain was placing significant pressure on its operations and threatening the stability of fuel supplies.

    Chanting solidarity songs, they displayed several banners such as: ‘We are tired of fuel scarcity and stories on why refineries are not working, ‘No direction under Kyari’ and ‘We want accountability in the affairs of NNPCL’. 

    Addressing reporters on Monday at Unity Fountain after the rally in Abuja, Convener of the Coalition of Concerned Civil Society Organizations, Aminu Abbas wondered why a nation blessed with oil like Nigeria should continue to suffer acute petrol scarcity.

    He said: “To President Ahmed Bola Tinubu and all those in positions of power, we say the time to act is now. Show us that you stand with the people, not those who profit from our misery. Mr Kyari must be shown the way out, and the NNPCL must be reformed to serve the interests of all Nigerians. We will not be silenced.

    Read Also: Fuel scarcity: Suppliers shun NNPC over $6 billion PMS debts

     “The fuel scarcity we endure today is not just a mere inconvenience; it is a calculated perpetuation of suffering. Under Mr Kyari’s leadership, the situation has gone from bad to worse, with no end in sight. What has he done to alleviate this crisis? It is clear he seems intent on maintaining a status quo that benefits only a select few while the masses suffer.

    “Why do we, the people, have to endure endless queues, inflated prices, and the daily uncertainty of whether we can fuel our vehicles or power our homes? The answer lies in the gross incompetence and mismanagement that have become the hallmarks of Mr. Kyari’s leadership.”

  • Fuel scarcity: Suppliers shun NNPC over $6 billion PMS debts

    Fuel scarcity: Suppliers shun NNPC over $6 billion PMS debts

    •Five vessels refuse to discharge petrol
    •Credit transactions normal in oil business, says company’s spokesman

     From fresh facts that came to light yesterday, the current nationwide fuel scarcity is accentuated by the sum of $6 billion owed suppliers by the Nigeria National Petroleum Company Limited (NNPCL).

    The supply agents have become reluctant about importing premium motor spirit (PMS) for the NNPCL.

    As a result, the oil firm has been rationing stock and prevailing on major suppliers not to cut off supply.

    Five vessels meant for Nigeria have refused to discharge fuel to NNPCL due to fear of payment, one of the major suppliers told THE NATION yesterday.

    But the Chief Corporate Communications Officer of NNPC Limited, Mr. Olufemi Soneye, assured that the oil firm was alive to its responsibility.

    He said in the oil trading business, transactions are often carried out on credit with intermittent outstanding balances.

     Sources said that last month, the Federal Government bailed out NNPCL with about $300 million to make fuel available in the country.

    The intervention of the government was, however, rated as a temporary relief.

    Reports by REUTERS, an international news agency, had indicated that Afreximbank disbursed $925 million to NNPCL as part of a syndicated $3.3 billion crude oil-backed prepayment facility.

    The uncertainty over the payment of the $6 billion, it was learnt, has made most suppliers “hesitant” in bringing in products.

    It was gathered that NNPCL “solely imports the product using supply agents.”

    As at yesterday, findings confirmed that the national oil firm was “weighed down by the over $6 billion piled up liabilities.”

    The NNPC is “struggling to supply dealers due to shortage of product at its tanks, “an authoritative source said yesterday.

    Read Also: FULL LIST: Major signings in 2024/2025 pre-season transfer window

    “Bulk sales of ships and trucks to depot owners have slowed down in the last five days due to shortage of supply.

    “No bulk sales has happened since Tuesday, which heightened the scarcity in the downstream sector, ” the source said.

    An oil chief who is in the know of the goings-on in the industry linked the fuel queues being experienced in the last eight weeks” largely to the reduction in supply of products by suppliers who were being owed.”

    “I was aware that at some point in mid-August the Federal Government had to come in by giving money to NNPC to defray some of the outstanding liabilities and boost confidence of the suppliers to continue.

    “However, what was paid was about $300 million which only helped in getting reprieve for about a week before the queues fully returned,” he said.

    Another informed source said: “Suppliers of petrol are hesitant about supplying new product to the Nigeria National Petroleum Company Limited (NNPCL) due to piling debts.

     “At present at least five vessels originally intended for supply to Nigeria have refused to discharge fuel to NNPC due to fear of payment.

    “The situation has increased pressure on the petroleum company which has now resorted to rationing the stock it has while appealing to its long-term suppliers not to halt supplies .

    Why and how NNPCL incurred $6 billion liabilities

    In a report, Reuters said: “Nigeria’s debt to gasoline suppliers has surpassed $6 billion – doubling since early April – as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs, under rising cost of living.

    The agency said the company has still not paid for some January imports, and the late payments amount to $4 billion to $5 billion.

    Under contract terms, NNPC is meant to pay within 90 days of delivery.

    “The only reason traders are putting up with it is the $250,000 a month (per cargo) for late payment compensation,” one industry source said.

    Reuters said: “At least two suppliers already stopped participating in recent tenders after hitting self-imposed debt exposure limits to Nigeria, the sources said, meaning they will not send more gasoline until they receive payments.

    “Nigeria’s tenders to buy gasoline in June and July were smaller, traders said. NNPC will import via tender about 850,000 tonnes in July, two of the sources said, down from the typical 1 million tonnes in previous months.”

    More challenges and solution(s)

    Recently, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, said it was imperative for the NNPC Limited to adjust its pricing strategy for imported fuel to curb smuggling.

    He also admitted that NNPC Limited had financial constraints in maintaining and rebuilding Nigeria’s ageing pipelines.

    He said the weak pipelines are susceptible to vandalism.

    Lokpobiri, who spoke at the 2024 Energy and Labour Summit in Abuja, said selling imported fuel below the landing cost is a key factor fueling smuggling activities.

    He said:  “If NNPC imports PMS and sells to marketers at perhaps N600 or below, there’s no way that smuggling can stop.

    “When smugglers are taking the products outside the country, even if you put all the policemen on the road, they are Nigerians; you and I know the answer.”

    “These pipelines, some dating back to the 1960s and 1970s, are highly susceptible to vandalism and crude oil theft, which significantly impacts the nation’s oil revenue.

    “The old, corroded pipelines, some of which date back to the 1960s and 1970s, are easily vandalized,” Lokpobiri explained.

    “The reason why pipeline vandalism is very easy to do is because the pipelines have all expired; they are completely corroded.

    “So, anybody can just go and tap it, and the thing is busted. The challenge lies in transporting it to terminals due to the deteriorated state of the pipelines.”

    NNPC reacts

    NNPCL’s Soneye could not immediately confirm the exact liabilities to the suppliers.

    He, however, said in oil trading, transactions on credit were normal.

    He said: “In the oil trading business, transactions are often carried out on credit. So, it is normal to have outstanding balances at certain times.

    “Additionally, through our subsidiary, NNPC Trading, we maintain open trade credit lines with several traders. I will need some time to provide you with the exact amount.”

  • Niger Delta leaders urge FG to end fuel scarcity

    Niger Delta leaders urge FG to end fuel scarcity

    Leaders and critical stakeholders of the Niger Delta region have called on the Federal Government to support local refineries to end persistent fuel scarcity and high cost of petroleum products in the country. 

    The stakeholders spoke in Abuja notinh it is an embarrassment for a nation with abundant petroleum to be lacking in supply of the same resources.

    They said with local refineries on stream, it would put an end to reliance on imported refined products in Nigeria. 

    The leaders spoke through the the President of Host Communities of Nigeria Producing Oil and Gas (HOSTCOM), High Chief Benjamin Tamaranebi at the Asokoro residence of the Leader of Pan Niger Delta Forum (PANDEF), Chief Edwin Clark, during a solidarity visit to the elder statesman at the weekend.

    Chief Tamaranebi lamented that as a result of scarcity of fuel supply, a litre of Premium Motor Spirit (PMS) is now sold for N2,000.00 in most parts of the Niger Delta where the crude are explored, exploited and exported outside the country.

    He advised the government to fix the Port Harcourt, Warri, and Kaduna refineries and patronise existing local refineries, such as the Dangote Refinery, to reduce dependence on importation ans stabilise prices.

    He also criticized International Oil Companies (IOCs) for refusing to supply crude oil to local refineries, despite the Petroleum Industry Act (PIA) stipulating that. 

    He accused the IOCs of pursuing vested interests and sabotaging the government’s efforts to develop the local refining capacity.

    The Niger Delta leaders appealed to President Bola Ahmed Tinubu to intervene and address the suffering of Nigerian citizens, emphasising that the government’s palliatives have not reached the common people.

    He concluded by calling for urgent action to support local refineries, reduce prices, and end the hardship faced by Nigerians.

    Tamaranebi said:  “Our visit to the residence of our leader and father in the Niger Delta region today, is to voice out our displeasure to the Federal Government and in particular, publicly owned key players in the oil sector on the endless fuel scarcity in the country.

    “It is a sad commentary to state here that a country like Nigeria, an oil producing nation, the 2nd largest oil producer in Africa, that has four refineries is still suffering from endless fuel scarcity and bent on importation of refined petroleum products to her country for over 20 years.

    “Only recently, some Nigerians trooped to the street in all parts of the country to protest against hardship in the country. Some of them were calling for the re- introduction of oil subsidy.

    “We are aware that the current fuel scarcity in some parts of the country is caused by marketers’ refusal to import petrol into the country due to the huge debt issue. It is alleged that NNPCL is owing marketers huge sums of monies and as such, they can no longer continue to import when NNPCL is owing them, while same NNPCL is coming to celebrate gain but using same token to appeal to use the profit for subsidy, what an irony?

    “We are here today to appeal through you (Clark) to call on the Federal Government ably led by our dear President, Senator Bola Ahmed Tinubu GCFR to have a rethink.

    “Just last Saturday, I bought a litre of fuel at Yenagoa, Bayelsa State at N1,200 while I was reliably told that at the creeks in Ekeremor LGA, Southern Ijaw LGA down to other riverine communities they are buying at the rate of N2,000 per litre. This is indeed very worrisome.

    “We therefore call on the government to ensure that the Port Harcourt, Warri and Kaduna refineries are fixed immediately and made to work optimally.

    “We are also calling on the Federal Government to as a matter of urgency, compel the International Oil Companies operating in our Niger Delta to begin sale of crude oil to Dangote Refinery and other local refineries in Naira so as to reduce and possibly eliminate importation of finished petroleum products into Nigeria.

    “With the Nigeria refineries producing locally, the price of petrol will reduce, which will ultimately reduce inflation and hardship in the country so that prices of commodities and staple foods like Fufu, Rice, Garri, etc can come down.”

     Chief Edwin Clark said President Bola Tinubu should not be blamed for the removal of fuel subsidy since budgetary provision for it ended in June 2023.

    He however advised the government to find practical means of alleviating poverty the fuel subsidy removal is inflicting on many Nigerians.

  • Domestic refining will address fuel scarcity, queues, says NBA

    Domestic refining will address fuel scarcity, queues, says NBA

    The Nigerian Bar Association(NBA) has called for full implementation of the directive of President Bola Ahmed Tinubu on the supply of crude to Dangote refinery and modular refineries in the country.

    Describing the establishment of the refinery as a nationalistic and patriotic endeavour, the umbrella professional association of lawyers, urged the Federal Government and Nigerians to support the Dangote Petroleum Refinery to end the reign of fuel scarcity and perennial queues at filling stations in the country.

    It expressed disappointment that the major project is encountering strong resistance from fuel importers, who have stifled the economy and kept it reliant on imported refined petroleum products, despite Nigeria’s status as a leading crude oil producer.

    The President of NBA, Yakubu Maikyau, who led other leaders and members of the association on a visit to the facility, praised the President/Chief Executive of the Dangote Group, Aliko Dangote, for remaining steadfast despite the opposition faced.

    “What I have seen today gladdens my heart, but at the same time, my heart is bleeding because of the neglect and opposition that such a laudable effort is facing. It is shameful, but as I mentioned to the President of the group, his continued steadfastness and resilience despite the opposition show that there is hope for this country. 

    “I would describe Aliko Dangote as both a freedom fighter and an economic warrior. There is no one more honourable or patriotic than Dangote. He has proven this through his actions, not just words. This isn’t about what someone might tell you; we have witnessed the enormous investments he has made in this country,” he said.

    Read Also: Fuel scarcity: Motorists accuse NNPCL Ikoyi of extortion

    He urged the Federal Government to create a supportive environment for the refinery, aiming to transform Nigeria into a net exporter of refined petroleum products and to alleviate the severe hardships caused by fuel scarcity. 

    He lamented that it is shameful for the refinery to import crude from abroad and export refined products due to opposition from local players

    “I want to use this opportunity to call on the Federal Government to pay deliberate and conscious attention to what Dangote is doing. 

    .

    “Anyone serious about turning around the fortunes of this country cannot ignore Dangote’s efforts. This is a people-centered investment that must be supported. This is the type of investment we need, and wherever such investments exist in this country, we urge the government to create an enabling environment for the benefit of the people. 

    “If we establish a supportive environment for this refinery to operate, we will eliminate the queues on our streets and resolve the difficulties associated with the scarcity of petroleum products. 

    “However, we will need the government to demonstrate a willingness to support this crucial venture. We have a facility here that can compete with the best in the world, but unfortunately, it is not receiving the support and recognition it deserves. 

    “It is disgraceful that with a refinery of this capacity, where 86 tankers can be loaded at once, we still face fuel shortages,” he added.

    Vice Chairman of the Epe Branch of the NBA, Ivo Takor, who praised the location of the refinery in the Ibeju-Lekki-Epe axis, said that the project has the potential to resolve the long-standing issue of fuel importation, create jobs, boost foreign exchange, and save the country money currently spent on subsidising petroleum products.

    “The refinery is something every Nigerian should be proud of. It is a project that will move Nigeria away from its long-standing issue of fuel importation, which comes with its own set of problems. Currently, we are dealing with fuel scarcity and long queues. 

    “I believe that once this refinery is fully operational, these challenges will be resolved. Additionally, the refinery has the capacity to export some of its products, bringing foreign exchange into the economy. It will also reduce the government’s expenditure on subsidies, allowing funds to be redirected towards improving infrastructure, education, and the health sector. Since its construction, many jobs have been created, and further job creation will follow when it becomes fully operational,” he said.

    He, however, noted that despite these benefits, there are some entrenched cartels against the full operation of the refinery. 

    While praising President Bola Tinubu for directing the supply of crude to both the refinery and modular refineries across the country, he emphasised the need for stringent monitoring to ensure compliance. 

    He stressed that withholding crude from the refinery constitutes sabotage against the nation and should be met with appropriate sanctions.

    “Unfortunately, it appears that there is a well-established cartel working against the full operation of this refinery, specifically those who do not want to supply it with crude oil. It is illogical for Nigeria to export crude oil while the refinery also imports crude . 

    “This situation reflects the interests of entrenched forces who benefit from fuel importation, which negatively impacts the people and the economy. Fortunately, the president has issued a directive regarding the supply of crude to the refinery. However, beyond this directive, it is crucial to ensure compliance. Those who do not comply should face adequate sanctions, as failure to do so constitutes sabotage not only against the refinery but against the economy as well,” he said.

    The Vice President (Oil & Gas) at Dangote Industries Limited, Devakumar Edwin, informed the delegates, that the refinery was established primarily to source and refine local crudes for the benefit of Nigeria, while also exporting excess production to boost the economy.

    Edwin noted that the lack of sufficient Nigerian crude supplies has necessitated importing crude from other countries and continents while exporting refined petroleum products abroad.

  • Still on fuel scarcity

    Still on fuel scarcity

    • It’s high time we found a lasting solution to the problem

    Perhaps nothing highlights the imperative of Nigeria refining its crude oil than the scarcity of petrol that seems to be assuming a monthly dimension in the country in recent times. Since April this year, Nigerians have suffered petrol scarcity almost on a monthly basis.

    The present scarcity began on July 26 and was yet to abate as at last weekend. This was despite the fact that petrol vessels birthed at Lagos and other ports in the country. Queues persisted in Abuja, Lagos and other parts of the country as the tanks ran dry in filling stations.

    Dealers said depot owners now supply fuel to their filling stations only because of low supply. “The depots are not wet yet. We are still doing epileptic loading. No product for third parties. That is, the depots are prioritising their own stations. That is always the case for depot operators. They will prefer to keep their stations wet to promote customer loyalty. Independent marketers will be left in the cold,” a dealer said.

    Another source reportedly added: “It’s not that vessels are not berthing, but the rate cannot meet the expected loading to reduce queues. We need to double up. Apapa Jetty alone needs at least two vessels discharging simultaneously, but the vessels are coming one after the other and that cannot solve the pending problem”.

    In April, Nigerians still struggled with fuel scarcity despite assurance by the Nigerian National Petroleum Company Limited (NNPCL) that the logistic issues causing fuel scarcity had been addressed. For whatever reason the company said Abuja should be given priority attention in fuel availability then.

    June did not go without fuel hiccups.

    Then July, which NNPCL attributed the then scarcity to disruptions in the movement of products caused by inclement weather conditions like thunderstorms and lightning.

    NNPCL’s chief corporate communications officer, Olufemi Soneye, said thunderstorm had disrupted ship-to-ship transfer of petrol between mother vessels and daughter vessels. No one can be blamed for nature’s disruption.

    There was never a time when the nation was not presented an explanation for the scarcity.

    Read Also: Fuel Scarcity: Hitch in discharge operations of vessels responsible – NNPC Ltd.

    But the issue of fuel scarcity should have been an aberration in a major crude producing nation like Nigeria if successive governments had done the rightful.

    Mercifully, the present Federal Government seems to have realised the need to fix the country’s ailing refineries, beginning with the Port Harcourt refinery. Although the deadlines set for the refinery to resume production had failed thrice, the government should ensure it does not fail this time around, even as it should ensure that the three others come on stream as soon as possible.

    Although even if all the four public refineries are working, they cannot meet the country’s demand. But there is also the 650,000 barrels per day Dangote Refinery as well as others to produce fuel in the country, although his refinery does not have full capacity as yet.

    Government should do everything humanly possible to encourage those involved to clear the hurdles on the way of local production of fuel. We spend 40 per cent of our foreign exchange on fuel importation. This is significant. The country has a lot of savings to make if we can at least reduce the level of fuel import.

    Focus should also be on repairing the facilities to pump fuel in order to reduce cost of road transportation of fuel all over the country.

    Nigeria is blessed with substantial crude, it should be a blessing and not a curse.

  • Fuel Scarcity: Hitch in discharge operations of vessels responsible – NNPC Ltd.

    Fuel Scarcity: Hitch in discharge operations of vessels responsible – NNPC Ltd.

    The Nigerian National Petroleum Company Limited (NNPC Ltd.) says the tightness in fuel supply and distribution is caused by a hitch in the discharge operations of a couple of vessels.

    Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., made this known on Saturday in a statement while reacting to the current queues and scarcity being witnessed in some parts of Lagos and the FCT.

    The News Agency of Nigeria (NAN) reports that queues started building up at fuel stations in the FCT on Friday, as motorists were seen lining up at various fuel stations, while some have remained shut.

    Read Also: Fuel scarcity: Products distributed by ships to fastrack onshore stock – NMDPRA

    “The NNPC Ltd. wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is as a result of a hitch in the discharge operations of a couple of vessels,” Soneye said.

    He said the Company was working round the clock with all stakeholders to resolve the situation and restore normalcy in the operations.

    (NAN)

  • Fuel scarcity: Products distributed by ships to fastrack onshore stock – NMDPRA

    Fuel scarcity: Products distributed by ships to fastrack onshore stock – NMDPRA

    In a bid to address the ongoing fuel scarcity in parts of the country, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that fuel products are being transported by ships to depots across the nation to expedite distribution.

    The Chief Executive Officer of NMDPRA, Farouk Ahmed, disclosed this to journalists after meeting with President Bola Ahmed Tinubu on Tuesday at the State House in Abuja. 

    Ahmed explained the recent disruptions in fuel supply were due to safety concerns caused by rough seas, which suspended ship-to-ship transfer operations, and flooding in Lagos, which hindered truck loading and movement.

    Despite these challenges, Ahmed assured that the country has a 20-day fuel sufficiency, comprising 12 days offshore and eight days onshore. 

    He emphasied that the authority is working to transfer the offshore stock to onshore depots, which will alleviate the scarcity.

    The movement of fuel products by ships to depots in other parts of the country is expected to fast-track the buildup of onshore stock, ensuring a comfortable supply of fuel nationwide.

    “Obviously offshore, there were a lot of soil and destabilization and it was very difficult to continue our STS, that is shipping operations in terms of ship-to-ship transfer because of safety. So the ship-to-ship transfer operations were suspended because of the volatile nature of the high sea at the time.

    “So those two days of delays, because of safety reasons, created that gap and that gap manifested. On top of that as well, there were floods in Lagos that disrupted truck loading and truck movement because of the floods so the trucks were now more like held back”.

    “I did briefed Mr. President just now that we have like 20 days sufficiency; 12 days offshore and about eight days sufficiency of onshore, but what is important is to translate the offshore to onshore and that’s why I must mention it to you earlier that the movement of shipping to other parts of the country will fast track the onshore build up of the stock and once we have the stock in onshore spread across the various depots in the country, then you’ll see a lot of comforts coming in,” Ahmed said. 

  • Fuel scarcity hinders economic activities in Onitsha

    Fuel scarcity hinders economic activities in Onitsha

    The recent scarcity of petrol has continued to hinder economic activities in Onitsha, the commercial hub of Anambra.

    The News Agency of Nigeria (NAN) reports that before the current scarcity, some filing stations in the Onitsha metropolis have been dispensing fuel at N690 and N720 per litre.

    However, some filing stations now dispense the product at N800, N820 and N850 per litre, while some of the stations remained shut.

    The state Commissioner for Petroleum and Mineral Resources, Mr Anthony Ifeanya, hinted on Saturday that the state government had resolved to check the trend.

    According to him, filing stations that tampered with their dispensing meters are being monitored by the state government.

    Some residents of the state told NAN in separate interviews on Tuesday in Onitsha that petrol scarcity had, no doubt, affected their daily businesses and caused them untold hardship.

    A trader, Mr Kenneth Nwanbunwanne, said that the recent fuel scarcity was affecting the people negatively.

    Read Also: Fuel scarcity will be over soon, Senate leader assures Nigerians

    According to him, the people of the area are now paying N200 for a journey that was supposed to cost N150 and N300 for a trip that they are supposed to pay N200 if not for the scarcity.

    He said, “My major concern is that, the price of petrol is not stable; you get it at prices that are always high. Again what is causing the scarcity is not known to the masses.

    “We are not even sure of when it will end, government needs to do something urgent to end this current situation. The poor masses are suffering, we now pay N300 for a journey of N200.

    “Situations like this, create room for owners of filling stations to acquire wealth at expense of the masses, situations like this, also create room for more hardship, as fuel products are often, not available to all.”

    A commercial bus driver, Joe Uche, who plies Nkpor Old Road, to the popular Upper Iweka, said that the current fuel scarcity observed in the state has caused low patronage in their daily business.

    “Overtime, scarcity like this will create room for adulterated fuel that is capable of causing damage to one’s car if you are unlucky to purchase such.

    Miss Esther Chukwunoso, who hawks goods, also lamented that most filing stations were no longer dispensing Petroleum products due to the scarcity.

    She said the development had impacted negatively on her business.

    An advisory by the Nigerian National Petroleum Company Limited (NNPCL), had cautioned Nigerians against panic buying of petrol, saying there had enough supply for the country.

    (NAN)