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Tag: John Ofikhenua

  • FG inaugurates National Council Privatisation

    FG inaugurates National Council Privatisation

    The vice president and chairman of the National Council on Privatisation (NCP), Kashim Shettima, has inaugurated the newly re-constituted NCP with a charge to members to champion the road to the economic prosperity of the nation.

    Inaugurating the council at the vice president’s conference room, State House in Abuja on Friday, December 8, Shettima advised the new members to fully embrace the federal government’s promise to propel the economy forward towards a Nigeria brimming with opportunities, growth, and empowerment.

    The head of public communications, Amina Tukur Othman, made this known in a press statement on Wednesday, December 13.

    According to the statement, the vice president stated that the membership of the NCP is as crucial as its mission, hence the diversity of talents and profundity of experience of members approved for inauguration by His Excellency, President Bola Tinubu.

    He noted that by his approval, Mr. President has entrusted the NCP with the strategic national assignment of piloting the nation’s economic sector reform, privatisation, commercialisation, and Public-Private Partnership (PPP) program for the next four years.

    Read Also: MWUN, others withdraw from national council

    He also stressed that the NCP is statutorily mandated to determine, formulate strategic plans, and approve policies on reforms of various sectors of the economy, as well as articulate a clear vision to drive our economy for the political, economic, and social well-being of all Nigerians, through the optimization of government-owned entities and assets.

    He also stated: “Membership in this distinguished council symbolizes more than mere participation; it signifies a steadfast commitment and a resolute belief in our shared vision for a Nigeria brimming with opportunities, growth, and empowerment. It represents our collective pledge to propel the economy forward, build robust infrastructure, forge pathways to employment, and nurture an environment where productivity flourishes.”

    The members of the National Council on Privatisation inaugurated are Senator Kashim Shettima Vice President of the Federal Republic of Nigeria, Chairman, and National Council on Privatisation.

    Mr. Wale Edun – Hon. Minister of Finance and Coordinating Minister of the Economy, Vice Chairman.

    Mr. Lateef Fagbemi – Attorney General of the Federation.

    Senator Abubakar Atiku Bagudu – Hon. Minister of Budget and Economic Planning.

    Dr. Doris Anite – Hon. Minister Industries, Trade, and Investment.

    Mr. George Akume – Secretary to the Government of the Federation.

    Dr. Olayemi Cardoso – Governor, Central Bank of Nigeria.

    Dr. Tope Fasua – Special Adviser to the President on Economic Affairs.

    Mr. Oluwole Oshin – Private Member.

    Mal. Mohammed Mustapha – Private Member.

    Mr. Olayiwola Yahaya – Private Member.

    Mr. Akwa Effion Okon – Private Member.

    Mr. Alex Okoh – Director General, Bureau of Public Enterprises, Secretary/Member

    He urged members to view their appointment to the Council as a privilege to serve the nation by contributing to the socio-economic development of the nation and accelerated growth of the economy through the provision of infrastructure, job creation, as well as creating an enabling environment for productive activities to flourish while leveraging on the enormous human and natural resources for the benefit of our people.

  • Stakeholders weigh crude oil export regimes

    Stakeholders weigh crude oil export regimes

    A high-powered meeting of stakeholders in the maritime industry has been convened to generate ideas on how best to export Nigerian crude oil to attract maximum benefits for Nigeria.

    The meeting with theme: “Free On-Board (FOB) and Cost, Insurance and Freight (CIF) Incoterms Framework for Export of Nigerian Crude Oil and Gas” was organized by the Nigerian National Petroleum Corporation (NNPC) in conjunction with the Nigerian Maritime Administration and Safety Agency (NIMASA).

    In his welcome address to participants, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said various attempts in the past to transit from the Free-on-Board (FOB) to Cost, Insurance and Freight (CIF) system of exporting the nation’s crude oil had failed and that there was no better time than now to revisit the issue wholistically to determine which of the systems best serves the interest of Nigeria.

    NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu disclosed this in a statement issued at Abuja yesterday.

    The statement noted that Kachikwu urged participants to come up with recommendations to help the Federal Government take appropriate decision on the issue with a view to enhancing the nation’s the economy.

    The Group Managing Director of the NNPC, Dr. Maikanti Baru, in his keynote address, said the corporation’s preference for FOB was informed by the prevailing security situation and the need to guarantee steady revenue into the Federation Account.

    He explained that under CIF, petroleum cargoes are legally the property of the Federal Government which could pose a danger to the country’s earning as creditors could procure court orders to confiscate crude oil cargoes as a means of securing payment of Nigeria’s indebtedness.

    “The experiences of Nigerian Airways and the Nigerian National Shipping Line both of which had their vessels/crafts and cargoes confiscated on court orders obtained by creditors is unpleasant to recall.

    “Due to these peculiarities, we find it most appropriate to transfer the potential risks associated with the ownership of the cargo to the buyer at the load port in Nigeria which FOB incoterm allows. Government/NNPC’s liability ends as the crude oil passes from loading hose at the vessel’s manifold to the loading vessel. The buyer pays for Freight, Marine Insurance, unloading and transportation from the load port in Nigeria to the destination”, he stated.

    He said NNPC was, however, not unmindful of the value erosion inherent in the FOB sale arrangement, adding that the corporation was open to new ideas on the proper mix that could enable synergy and collaboration amongst different stakeholders to guarantee security of federation revenue as well as guard against associated risks involved in delivery of crude oil and Gas to customers.

    On his part, the Director General of NIMASA, Dr. Dakuku Peterside, said while there was no correct answer to the issue of freight system to adopt, there was need to be open-minded about possible alternatives that could help in the quest to diversify the economy.

    He urged participants to be guided by the national interest in their discussion and explore all possible opportunities.

  • Marketers to NNPC: Increase petrol supply

    Marketers to NNPC: Increase petrol supply

    Owing to the persistent scarcity of the Premium Motor Spirit (PMS) also known as petrol, nationwide, the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), Mr. Olufemi Adewole, on Monday urged the Nigerian National Petroleum Corporation (NNPC) to increase its supply to the marketers.

    He admitted that the corporation was giving fuel to marketers, stressing that if there were queues anywhere it meant that the supply was insufficient and that NNPC should increase it.

    Asked to give an update on the petrol market in view of the unending queues in the country, he told The Nation on phone that “I really don’t have an update about happenings in the last few days now. 

    “But I read in the news too. I came into Abuja this morning and I have seen one or two places that have fuel. To the best of my knowledge NNPC is giving marketers fuel. If there are queues it simply means they should give marketers more.”

    Speaking on phone, the National Vice President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigadi attributed the queues to panic buying.

     He recalled that the scarcity started since last month and it was not easy for it to disappear from the whole country immediately.

    According to him, “there has been improvement in terms of loading and supply of  product. In Niger State there are queues but they are not long.”

    The NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who was also called for a reaction to the persisting scarcity did not receive his call at press time.

    The fuel scarcity and its resultant queues that engulfed the Federal Capital Territory (FCT) seemed to have aggravated yesterday.

    Most of the independent marketer apart from the Nipco petrol stations in Kubwa, Lugbe Airport road were under lock and key. Some major marketers as Total in Zone 6, Wuse District however sold the product. 

    The NNPC affiliate stations that sold petrol yesterday were besieged by endless queues. The worst hit was the on mega station on Kubwa expressway and the one on Olusegun Obasanjo way, which both recorded long queues.

    At the Nipco on Airport road, it was discovered that the station pegged its maximum sale per vehicle at N3,000 per liter. 

    Although the stations did not alter the prices from a maximum of N145 per, black marketers took advantage of the scarcity to sell petrol in jerrycans on the expressways. They sold theirs for about N200 per litre.

  • Oil production hits 2.5mb/d

    Oil production hits 2.5mb/d

    The Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD), Dr. Maikanti Baru on Tuesday that crude oil production was 1.8 million barrel per day without condensate and 2.5million per day with condensate.

    He dropped the hint to reporters after chairing the opening ceremony of the 2018-2019 crude oil term contract in Abuja.

    He had opened 254 bids from indigenous and international companies jostling to lift the Nigerian’s crude in the 2018/2019 term contract.

    According to him, the winners will have to lift 14 cargoes of crude in the term of one year.

    He explained that “the crude oil term contract is not a procurement contract but a process of selecting partners for the sale and procurement of NNPC equity crude oil volumes.”

    Asked when and how many winners would emerge, the NNPC boss said that the evaluation of the bids would take about four weeks and thereafter there will be the request for approval. 

    He, however, said that he did not know how many winners that would emerge from the exercise stressing that “It depends on how good the submissions are.”

     “After evaluation which will take about three to four weeks, we will get the consent. Once we get the approval we will conclude it.

    “I wouldn’t know how many will emerge. It depends on how good the submissions are.”

    Baru explained that NNPC was taking steps to evaluate the submission in order to ascertain the credibility of the companies and their directors.

    According to him, the corporation wouldn’t want its crude to enter questionable hands. 

    The NNPC helmsman said that contrary to the perception that the United States of America has exited completely from the importation of Nigerian crude owing to its own Shale oil, the US last year imported 16.5% of the nation’s crude. 

    His words: “Contrary to people’s perception that because of the Shale oil has taken off most of the markets of Nigerian crude. 

    “That is the perception we have as about two years ago we had very low export to particularly to the US. But last year we had up to 16.5% of our crude going to North America.”

    The Group General Manager, Crude Oil Marketing Division, Mr. Mele Kyari in his presentation said that Europe still remains the highest importer of Nigerian crude, while Asia and the Pacific were next to them. 

    He rolled out requirements for qualifying the would be lifters, who have 30 days credit period. The companies, he said, must have a credit network of $250million and $500million turn over. 

    On crude production, Baru said that “As at today Tuesday, crude production without condensate we have gone up significantly today. We have about 1.8million barrels per day without condensate. If we add condensate we have made about 2.25million barrels per day. It is a significant improvement.”

    According to him, the Escravos gas pipeline that there was fire on Thursday last week, had come back on stream leading to a generation 3.100mw. 

    He dropped the hint that NNPC was partnering with key stakeholders to improve the overall security of oil production sites, crude oil export lines and other critical oil and gas infrastructure.

  • ‘Why petrol scarcity persists in states’

    ‘Why petrol scarcity persists in states’

    Marketers of the Premium Motor Spirit (PMS) otherwise known as petrol on Tuesday said that the product is still scarce in the state across the country because the product was yet to get to the hinterland.

    The National Secretary, Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Danladi Pasali told The Nation on phone on Tuesday that the issues with the Federal Government were only resolved last week.

    According to him, it takes about four days to one week for trucks laden with petrol to travel from Lagos and other depots to some parts of the country.

    He said that the situation was already improving in some states, stressing that by the weekend the stations will be wet.

    The scribe said that unless marketers begin to import fuel after finally resolving issues with the government, there is bound to be pockets of fuel scarcity.

    His words: “The product is still not much available on the outskirts.

    You know that it was last week we resolved our issue to mobilize trucks to those areas.

    “From Lagos to some states take five to six days or one week because of the road situation. I am sure before the week runs out there will be the improvement in the situation.

    “It is improving now. Over 20 filling stations are selling in my state (Plateau). It is improving. It is no longer like before.

    Unless we all import at once augmenting NNPC, there will still be pockets of scarcity here and there.”

    Meanwhile, the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN) Mr. Obafemi Olawore told The Nation on phone that the marketers had to always start from Abuja, Lagos before getting to other states.

    He submitted that now that the major cities have been cleared of queues, the fuel will soon go round to the outskirts of Nigeria.

    He also dropped the hint that his association had on Monday directed its members to move fuel to other states.

    Olawore said that “when there is scarcity we first look at Lagos, Abuja and later we look at PortHarcourt, Kano, Ibadan and so on. Now that Lagos and Abuja are stable, the instruction that was given since yesterday is that we should move to other states. “So maybe Wednesday, Thursday, you will see the effects in some more states.

    The agreement I had with my own major marketers, we have agreed that we will be going to the other states. But it is going to be gradual.”

    Speaking The Nation on phone, the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), Mr. Olufemi Adewole, said that “whatever we are given, we are selling. If it is not enough, NNPC is expected to beef up the supply. But everything they give to us we are selling.”

  • Electricity: FG plans network expansion with stranded 2,000mw

    Electricity: FG plans network expansion with stranded 2,000mw

    The Minister of Power Works and Housing, Babatunde Fashola on Monday revealed that the ministry is making a policy to expand the distribution network of the Electricity Distribution Companies (DisCos) to distribute the 2,000 that was being stranded.

    He said: “We are also putting together a policy position to help expand the distribution network of the DisCos and use this to distribute the 2000MW that is currently available but cannot be distributed.”

    He called on manufacturers to provide the ministry with information on their location and the amount of power they need from the undistributed 2,000mw.

    According to his speech that was made available to media, he spoke at the 23rd Monthly Power sector operators meeting in Lafia, Nasarawa State.

    He urged the sector to work harder this year to increase people’s access to meters and reduce the incidents of estimated billing, stressing that the Nigeria Electricity Regulatory Commission (NERC) would conclude the Meter Regulations that would open up the meters supply and installation business.

    Fashola regretted that in the “first few days of the new year we suffered a set back to our power supply which was caused by damage to the gas supply network around Okada.”

    According to him, the Nigerian National Petroleum Corporation (NNPC) had last night informed his ministry on the completion of the repairs.

    The ministry said what was left was to test the lines and restore pressure and supply to the generation companies.

    He promised that “one by one all the stakeholders from GenCos, TCN and DisCos will work to restore supply to the levels they were before the pipeline damage.”

    He recalled that a few months ago the Nigerian Electricity Regulatory Commission (NERC) formally presented the Mini Grid Regulations, stressing that “at this meeting and its impact is beginning to manifest.”

    Last month in Abuja, according to him, Nigeria through the Rural Electrification Agency hosted a Mini Grids Summit that is the largest ever attended in Africa with 600 participants from about 40 Countries.

    Fashola said that the word was spreading around the world as “mini-grids will help us connect more people and boost incremental power.”

    Giving account of the progress that he had so far made, the minister said that generated power had gone up to 7000 MW in 2017 from 3,000 MW in May 2015

    Transmission Capacity was at 6900MW in 2017 from about 5,000 MW in May 2015, he said. 

    The also noted that “Peak Distribution now averaging 5,000 MW in 2017 from 2,690MW in 2015.”

  • Electricity: Power sector recovers 1,143MW

    Electricity: Power sector recovers 1,143MW

    The Nigerian Electricity Supply Industry (NESI) on Monday recovered 1,143MW from the restoration of the Escravos-Lagos Pipeline (ELP).

    The line which came down last week as a result of a fire incident has been restored and gas supply to customers on the line including power generating companies resumed.

    The Nigerian National Petroleum Corporation (NNPC) which disclosed this on Monday said the repair work on the pipeline followed the directive by the Group Managing Director, Dr. Maikanti Baru, to carry out an assessment of the damage with a view to getting a prompt solution.

    The statement NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, issued in Abuja, recalled that a section of the ELP at Abakila in Ondo State blew up in flames on January 2, 2018 as a result of a bush fire.

    According to the statement, the incident affected gas supply to customers in Ondo, Ogun and Lagos States with a subsequent shutdown of a number of power plants.

    With the restoration of the ELP and resumption of gas supply, the affected power plants with a combined generating capacity of 1,143MW would resume power generation.

    The power plants include: Egbin Power Plant in Lagos State; Olorunshogo Power Plant, PEL Olorunshogo and Paras Power Plant in Ogun State; and Omotosho Power Plant in Ondo State.

    The 36-inch Escravos to Lagos Pipeline System (ELPS) is a natural gas pipeline built in 1989 to supply gas from Escravos in the Niger Delta to various consumption utilization areas.

    It supplies gas to power plants in the South-west and also feeds the West African Gas Pipeline System.

  • Rice importation exit: No hiding for smugglers – Customs

    Rice importation exit: No hiding for smugglers – Customs

    When President Muhammadu Buhari gives the go-ahead for the implementation of total stoppage of rice importation this year, the smugglers will no longer have any hiding or guise for trading on the prohibited item.  

    His administration had last year stopped the importation of rice through land borders. Besides, in his 2018 New Year broadcast, he dropped the hint that there will be the total stoppage of rice import this year.

    But speaking with The Nation on phone on Sunday, the Nigeria Customs Service (NCS) Public Relations Officer, Mr. Joseph Attah, noted that the fight against rice smuggling will be easier when the policy implementation begins.

    He said that unlike now that the criminals hide under the guise of the seaport to smuggle rice into Nigeria, upon the enforcement of the policy, any rice that is not Nigerian, will be seized as a smuggled item. 

    He said that “We have been fighting rice smuggling and if there is a total stoppage in seaport, land borders and all that, I think criminals will no longer have a hiding place. “The difficulty of knowing whether this rice came from the seaport or land border will be totally out of the picture. As long as it is not locally produced rice, it is a smuggled rice. So, they cannot hide under any guise.” 

    Asked how prepared the service is to implement the policy, the spokesman noted that with the support of the Federal Government, the organization looks forward to possessing more vehicles and equipment in 2018.

    According to him, the NCS is prepared and will be better equipped to combat smugglers. 

    “He said that We are prepared. With the support of the government any moment from now we will be taking over vehicles and other working equipment. So, we are going to be better equipped this year and that will also boost our activities to deal with not only rice smuggling but also to deal with smuggling of any prohibited items.”

    Attah, however, noted that the challenge he envisages in the implementation of the policy is that of the unpatriotic Nigerians who still harbour smugglers.

    He appealed to the citizenry to appreciate smuggling as a criminal act, and support the service to fight them by exposing their act. 

    The PRO said that “There will be no other new challenges rather than the challenges we have been facing. I will rather say that we will appeal for support from Nigerians. 

    “People should look at smugglers as enemies of the state. And the act of smuggling itself is a crime and this means no good for Nigeria and Nigerians. The more we continue to expose them to customs the better we do. 

    “But in a situation where a fellow Nigerian will provide shelter to smugglers to hide could be a challenge. We appeal to all to support and understand that fighting smugglers is a collective responsibility. 

    “They should do their own by providing the solution to us by exposing smugglers so that they don’t have any hiding place.”

  • Private refinery vows to end fuel scarcity

    Private refinery vows to end fuel scarcity

    Bayelsa industrial businessman, Dr. Azibapu Eruani has rekindled hope in Nigerians that the hydra-headed malaise of fuel scarcity and acute unemployment would be reduced to its barest minimum, if not eradicated as licensed privately owned refineries commences operation.

    Eruani, President of the Azikel Group, conglomerate comprising Azikel Petroleum, Azikel Dredging, Azikel Power and Azikel Air said this while speaking with journalists in Yenagoa.

    Decrying the yearly fuel scarcity debacle, particularly during festive periods in the country, he pointed that this challenge has become embarrassing and biting, as it has virtually crippled economic activities in the country.

    The company disclosed this in a statement on Wednesday. Accordingly, Eruani noted that the challenge persists in the country because the efficiency level of existing refineries is low to satisfy consumers demand; just as the nation depends solely on the importation of fuel for local consumption.

    The Azikel Group President averred that the present administration led by President Muhammadu Buhari took a pragmatic step to redress low supply, importation of fuel and price hike, by issuing licenses to privately own refineries to Nigerian businessmen, Azikel Group inclusive.

    He noted that Azikel Petroleum has achieved 65% completion; and that it would soon begin operation, even as he noted that when all licensed privately owned refineries begin to dispense fuel it would shore up production capacity and fuel scarcity and insufficiency would be outlawed, and Nigeria would be like other countries where availability of petroleum product would no longer be an issue.

    Said he ‘’Azikel Petroleum refinery, phase 1, 12, 000 bpsd hydro-skimming refinery would produce, premium motor spirit, liquefied Petroleum gas, heavy fuel oil, Kerosene and diesel, which is scalable as it will increase geometrically in the phase 2 level of production with over 50,000 bpsd.

    ‘’Azikel Group is irrevocably committed to bridging the industrial deficit in Bayelsa, we are on a fast lane of making history, building the first hydro-skimming privately owned refinery in the state and the Niger Delta, and as we pioneer this course others would follow,” Eruani submitted.

    ‘’it might be difficult yesterday, but we have move beyond the point of difficulty to success, and we believe that fuel scarcity in Nigeria would be a thing of the past soon.

    He dismissed the erroneous impression that Bayelsa is a militant state, stressing that the people are enterprising and a whole lots of small and medium business is also thriving in the state.

    Eruani alluded that the multiplier effect of adequate supply of petroleum product in the country would drastically reduce the problem of unemployment, which is responsible for brain drain, illegal means to greener pasture, particularly the Libya returnees, as well as other in pathetic conditions faced by young Nigerians in other countries.

    He shared the optimism that synergy between the private sector and government at all levels is needed to advance technology driven industrialization to absorb graduates from our universities, as a well as create room for middle and low class manpower.

    The Azikel Group President noted that subsidiaries under the group have created industrialization in Bayelsa and the Niger Delta, stressing that with over 1000 employees from the six geo-political zones and still counting, we have reduced unemployment challenge in the state, Niger Delta and in the country.

    ‘’We do not want Bayelsans, Niger Delta youths and Nigerians to be idle, we don’t want them to become illegal migrant begging for jobs and been lured into abominable social vices, such as prostitution and drug addict, cultist and robbery.

    To this end, Eruani noted that an industrialised state and nation is the cardinal key to stable economic prosperity, which would in turn create institutions that would stamp out unemployment, even as he pointed that Azikel Group is on a mission to create the right values towards industrial growth, bring unemployment to its lowest ebb and promote financial freedom among all Nigerians.

  • FG petrol subsidy now N26 per liter

    FG petrol subsidy now N26 per liter

    The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru, on Sunday disclosed that the current Landing Cost of petrol is N171 per litre, meaning that at N145 per litre, the Federal Government is currently paying a subsidy of N26 on a litre of the commodity.

    Speaking with reporters in Abuja, he said that the normal consumption of PMS in Nigeria had risen to over 50 million litres per day, due to hoarding and diversion, mainly as a result of cross-border smuggling, due to the PMS price disparity that exists between Nigeria and its neighbours.

    Commenting on the Landing Cost of PMS, Baru said the Cost, Insurance and Freight price of PMS was $620 per metric tonne, adding that at N305 to a dollar, the landing cost translates to N171 per litre.

    Baru said the Federal Government has given approval for preferential and speedy treatment to be given to vessels carrying Premium Motor Spirit (PMS), also called petrol, to end the lingering crisis in Nigeria.

    According to him, the Nigerian Navy, Nigerian Ports Authority, NPA, Customs and the Nigerian Maritime Administration and Safety Agency, NIMASA are currently expediting the clearance of fuel vessels and anchorage services to facilitate speedy product transfers to various depots including during weekends and public holidays.

    The NNPC helmsman noted that President Muhammadu Buhari is deeply concerned about the fuel crisis and had ordered al stakeholders involved, including security agencies to ensure a speedy resolution of the situation.

    In addition, he disclosed that the NNPC had commenced a 24-hour loading and sales operations at all depots and its mega stations across the country.

    “Major marketers were also advised to carry out 24-hour operations, most of whom have been complying. This has increased load-out from the Depots significantly and continuous sales at the filling stations nationwide,” Baru noted.

    He affirmed that in addition to the regular supply circle, the NNPC had programmed the delivery of additional 300 million liters in December 20l7 and January 2018 to beef up national reserves to 45 million liters per day, well above the normal consumption requirement of between 27 and 28 million liters per day.

    He also declared that over the last two weeks, the national truck-out capacity has been beefed up to an average of l,500 trucks, about 52 million litres per day, which he explained, was higher than the normal consumption of 850 trucks per day.

    Furthermore, the NNPC boss stated that currently, 13 vessels, with an average capacity of 650 million litres, are discharging the commodity at different ports across the country, while noting that three vessels with the commodity are coming in before the end of the week, bringing the combined quantity of the product in depots to 814 million litres of petrol till the end of the month.

    He added that 14 shuttle tankers, with a combined capacity of 187 million litres of the commodity would also be discharging the product at various destinations across the country in the next three days.

    In addition to the importation of the product, Baru noted that the Port Harcourt and Kaduna Refineries are currently contributing about one million litres per day and 2.8 million litres per day of PMS to the country’s fuel supply respectively, adding that since the fuel crisis began, both refineries had contributed a total of about 61 million litres.

    Also, to ensure the speedy resolution of the crisis, Baru disclosed that the NNPC had activated the ‘Fuel War Room’, comprising the NNPC, Department of Petroleum Resources, DPR, Petroleum Products Pricing Regulatory Agency, PPPRA and the Petroleum Equalisation Fund, PEF.

    He said the team is tasked with the responsibility of coordinating all intervention activities for supply and distribution of PMS nationwide, adding that with the support of security agencies, the team, with the support of Security Agencies, is already working round the clock to ensure a speedy resolution of the current fuel situation.

    He explained that with all these measures, and if full compliance is achieved, the crisis would end within the next two days, adding that efforts have been put in place to ensure the crisis did not go beyond this week.

    Baru also accused black marketers of sabotaging efforts to end the fuel crisis, stating that most of the peddlers, permanently put their vehicles in queues at petrol stations, and after purchasing, discharge the products into containers and return to join the queues.