Tag: Premium Motor Spirit

  • NNPC to depots: don’t sell petrol above N133.28/litre

    The Nigerian National Petroleum Corporation (NNPC) has warned depot owners or terminal operators not to sell Premium Motor Spirit (PMS), otherwise called petrol, above the official ex-depot price of N133.28k per litre.

    The Corporation also cautioned petroleum products marketers not to sell the product above N145 per litre.

    Ex-depot price is the ceiling at which depot owners or terminal operators sell products to marketers, while the pump price of a product is the amount consumers buy it from fuel stations. A release yesterday in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said the subsisting ex-depot petrol price of N133.28k per litre was consistent with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) template and should be adhered to.

    Read also: NNPC recruitment enters second phase

    Ughamadu stated that NNPC held stock of over 1billion litres, adding that imports of 48 vessels of 50million litres each have been committed for the month of April alone.

    He advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources (DPR), the Industry regulator or to any law enforcement agency around them, on any station which sells petrol beyond N145 per litre.

     

  • Many injured in Lagos restaurant fire

    Many people, including children, yesterday sustained injuries after Premium Motor Spirit (PMS), popularly called petrol, exploded at a restaurant in Lagos.

    The incident occurred around 8am at a place called University of Amala, on Ejigbo Road, Idimu, Lagos.

    It was gathered that the owner of the restaurant, six of her employees and many customers sustained injuries.

    The explosion, it was learnt, occurred after a commercial bus trampled on a keg containing PMS, kept off the road, by a customer.

    The Nation gathered that the fire affected the gas cylinder at the restaurant, burning people.

    An eyewitness, Taiwo Olayinka, said nobody died in the inferno, adding that those injured were taken to a nearby hospital.

    He said: “The place is near OPC junction, before Idimu last bus stop. A customer came to the place with a keg filled with petrol.

    “He dropped it by the roadside with the intention to carry it when leaving, but a bus that was turning in front of the shop climbed it unknowingly and everything went up in flames. Many people were injured. They have been hospitalised.

    “The fire spread to the kitchen and affected the generator. It was the generator that escalated the fire. The driver of the bus, who reversed, did not see the keg.”

    The police and the Lagos State Emergency Management Agency (LASEMA) said they were not aware of the incident.

  • Many injured in Lagos restaurant fire

    Many persons including children on Sunday morning sustained burnt injuries after Premium Motor Spirit (PMS) exploded at a restaurant in Lagos.

    The incident occurred around 8am at the place called University of Amala along Ejigbo Road in Idimu.

    It was gathered that the owner of the restaurant, six of her employees and many customers sustained varying degrees of injuries.

    The explosion occurred after a commercial bus trampled on a PMS laden keg kept off the road by a customer who entered the restaurant, it was learnt.

    The Nation gathered that the fire affected the gas cylinder at the restaurant which extended same into the premises, burning people.

    According to a witness, Taiwo Olayinka, no one died in the inferno as all those injured were rushed to a nearby hospital for treatment.

    He said: “The place is at OPC junction before Idimu last Bus Stop. From what I gathered, a customer that want to patronise the entity came with a keg filled with petrol.

    “He dropped it by the roadside so he would take it when leaving but a bus that was turning in front of the shop climbed on it unknowingly and everything went up in flames. Many people were injured and receiving treatment at a nearby hospital.

    “The fire entered the kitchen and also affected the generator used to power the restaurant. It was the generator that escalated the fire. The bus was reversing and did not see the keg.”

    Contacted, both the police and the Lagos State Emergency Management Agency (LASEMA) said they were unaware of the incident.

  • 10 vehicles razed in Lagos fire

    At least 10 vehicles were on Tuesday morning burnt after spilled Premium Motor Spirit (PMS) ignited fire along Badagry Expressway, Lagos.

    The incident occurred around 5am at Barrack Bus Stop, Ojo.

    It was gathered that a tanker which collided with a white van around 10:30pm on Monday got punctured.

    The punctured tanker, said to have spilled its content on the road, was recovered by emergency workers the same night.

    But hours after the recovery, it was gathered that a fire broke out miles away from the accident point, gutting three buses, a saloon car and six trucks.

    Although initial reports alleged that persons were killed in the inferno, a source at the Lagos State Emergency Management Agency (LASEMA) said there was no casualty.

    “No life was lost in the fire. The tanker that spilled its content was not affected. The spillage happened on Monday night. It was stopped and the tanker drove away from the place. Fire service also blanket the affected area.

    “Then hours later, fire broke out and affected some vehicles. No one sustained injury and no house was burnt. The fire was ignited by unruly drivers who disobeyed safety instructions and that led to a spark,” said a source.

    Confirming the incident, General Manager LASEMA Adesina Tiamiyu said the agency received a distress call concerning a tanker accident around 9:48pm on Monday at Barrack inward Iyana Iba Bus Stop.

    “This prompted the immediate activation of the agency’s response team to the scene of the incident. Upon arrival at the scene, it was observed that the tanker with unknown registration number laden 33,000 litres of PMS collided with a white mini truck carrying electrical appliances.

    “The tanker’s rear compartment got punctured resulting to spilling of the PMS contents into the environs. Consequently, a combined team of Lasema Response Unit (LRU), Lagos State Fire Service, Police and other responders successfully curtailed and stopped further spillage of the PMS into the environs of the incident scene.

    “The articulated tanker and trucks were thereafter recovered from the incident scene. However, during the recovery process, the PMS which hitherto spilled into the distant environment ignited fire and went aflame.

    “The fire travelled back to the proximity of the scene resulting to three buses, a car and six trucks getting burnt. The circumstances resulting to this fatal secondary incident could have been attributed to unsafe practices by inhabitants in the distant environs where the PMS spilled into. It is pertinent to note that no person was injured neither was any dead recorded.

    “The Lagos State Fire Service, officials of the LASEMA Response Team, 81 Division Nigerian Army Fire Service, Nigeria Police and Lagos State Traffic Management Authority (LASTMA) were the responders at the scene of incident.

    Read Also: Tanker fire: 40 shops, eight houses burnt

    “Motorists are advised to listen to instruction of emergency workers on incident scene to avoid such unfortunate incident in the future,” said Tiamiyu.

    Police spokesman Chike Oti, a Chief Superintendent (CSP) however said nine vehicles were affected and not 10.

    Oti said: “There was a fire incident today, October 2, at about 5am along Lagos-Badagry expressway, inward Iyana-Iba, opposite Ojo Military Barracks.

    “When the fire which began just before the break of the dawn was eventually put out by men of the Fire Service, nine vehicles, comprising four articulated vehicles, one truck and four mini buses were razed.

    “No life was lost and there was no report that anyone was injured during the incident. It is worthy of note that no fuel tanker was in sight nor burnt as a result.”

    Continuing, Oti said Police Commissioner Imohimi Edgal had directed the disaster management unit of the command to investigate the cause of the inferno.

  • NNPC records N17.16b trading surplus

    The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018.

    NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations Report for April, 2018.

    The report, the 33rd edition since NNPC commenced the publication of its financial and operations report on a monthly basis as part of efforts to instill a culture of transparency and keep stakeholders and the general public informed of its activities, indicated a ₦5.43bn improvement representing 46.29 per cent on the trading surplus recorded in the previous month of March, 2018.

    According to the report released today, in Abuja, the trading surplus was achieved through a combined higher performance by the upstream, midstream (refineries) and downstream sectors as well as a reduction in Corporate Headquarters’ operational expenditure.

    “This enhanced performance is attributable to robust revenues from sales of crude oil and petroleum products by NPDC and PPMC as well as the upsurge in refineries’ performance, particularly in the Port Harcourt Refining Company (PHRC)”, the report stated.

    Read Also: NNPC allays fear over fuel scarcity

    On the gas production and supply front, the report indicated that the average daily production for April, 2018, stood at 8,054.46 billion cubic feet (bcf), out of which an average of 835.27 million metric standard cubic feet (mmscf), equivalent of 3,283 megawatts of electricity, was supplied to the power sector daily during the period under review.

    “The result when compared with that of April, 2017, implies an increase of 496mw of power generated relative to same period last year”, the report stated.

    It further showed that in the period under review, a total of 1.61 billion litres of Premium Motor Spirit (petrol) was supplied by NNPC in furtherance of the zero fuel queue policy of the Federal Government.

    The NNPC said it recorded a 48.21 per cent reduction in the rate of pipeline vandalism which fell to 166 from 224 vandalized points in the previous month.

    According to the report, the Aba-Enugu pipeline segment accounted for 78 vandalized points, representing 84.78 per cent of total vandalized points on the nation’s network of products pipelines.

  • NBS says average price of petrol dropped in May

     The National Bureau of Statistics (NBS) says the average price paid by consumers for Premium Motor Spirit, (Petrol) decreased to N150.2 in May from N151.4 paid in April.

    The NBS, in its “Premium Motor Spirit (Petrol) Price Watch’’ released on Tuesday, said the price decreased by -0.3per cent year-on-year and -0.8per cent month-on-month.

    According to the report, states with the highest average price of PMS are Borno (N166.08), Benue (N160.31) and Akwa Ibom (N159.44), while the states with the lowest average price are Katsina (N144.82), Kano (N144.87) and Bauchi (N144.93).

    Meanwhile, in the bureau’s “National Household Kerosene Price Watch’’ the price of Kerosine per litre increased from N278.49 in April to N280.29 in May.

    Read Also: NBS: Nigeria’s inflation dips to 12.48%

    “Average price per litre paid by consumers for National Household Kerosene increased by 0.65 per cent month-on-month and decreased by -7.58per cent year-on-year to N280.29 in May from N278.49 in April.

    “States with the highest average price per litre of kerosene were Abuja (N327.50), Yobe (N313.33) and Cross River (N310.19), while those with the lowest average price per litre are Borno (N233.33), Abia (N235.53) and Kogi (N251.04),’’ the report said.

    According to the report, the average price per gallon paid by consumers for National Household Kerosene increased by 0.80per cent month-on-month and decreased by -5.12per cent year-on-year.

    It noted that the price paid by consumers for a gallon for kerosene increased to N983.67 in May from N975.82 paid in April.

    States with the highest average price per gallon of kerosene were Jigawa (N1143.33), Yobe (N1130.00) and Adamawa (N1088.89).

     

    NAN

  • Bauchi residents paid N144 per litre of petrol in April

    The National Bureau of Statistics (NBS) says residents of Bauchi State bought a litre of Premium Motor Spirit (PMS), also known as petrol, at an average of N144.17 in April.
    The Bureau stated this in its PMS Price Watch for April 2018, released on Monday in Abuja.
    “Bauchi residents bought the product less than the approved price of N145 per litre in the month, while residents of Plateau bought the commodity at the approved price of N145,” the report said.
    It added that Abuja residents bought petrol at 144.95 per litre in the month under review.
    According to the report, states with the lowest average price of petrol were Plateau (N145.00), Abuja (N144.95) and Bauchi (N144.17) in the month.
    It named Kebbi, Kogi and Jigawa where petrol was sold at N163.71, N160.79 and N160.46 per litre, respectively, as states with the highest average price of the commodity.
    The report, however, stated that the average price paid by petrol consumers increased by 1.0 per cent year-on-year and -7.3 per cent month-on-month to N151.4 in April from the N163.4 recorded in March.
    Meanwhile, the National Household Kerosene Price Watch for April also revealed that the average price per litre paid by consumers for National Household Kerosene increased by 3.53 per cent month-on-month.
    The report, however, stated that the product’s price decreased by -0.82 per cent year-on-year from N268.99 in March to N278.49 in April.
    It stated that states with the highest average price per litre of kerosene were Abuja (N316.67), Cross River (N315.56) and Nassarawa (N309.52).
    The bureau stated that states with the lowest average price per litre of kerosene were Akwa Ibom (N247.22), Abia (N245.25) and Katsina (N244.87).
    Similarly, it stated that average price per gallon paid by consumers for Kerosene increased by 3.45 per cent month-on-month and decreased by -15.38 per cent year-on-year from N943.27 in March to N975.82 in April.
    It stated that states with the highest average price per gallon of kerosene were Jigawa (N1140.00), Yobe (N1100.00) and Kano (N1068.24).
    The bureau also added that states with the lowest average price per litre of kerosene were Abia, N900.00; Delta, N875.00 and Rivers, N844.74

  • NSCDC arrests 44 suspected criminals in Plateau

    The Nigerian Secur‎ity and Civil Defence Corps ( NSCDC ), Plateau Command, said on Tuesday that it had arrested 44 suspects for various crimes in the first quarter of 2018.

    Mrs Naomi Chishak, the command’s ‎Public Relations Officer ( PRO ), made this disclosure to the News men in Jos.

    She stated that the suspects were arrested for offences; ranging from solid mineral theft,  ‎petroleum products diversion, illegal possession of weapons and armed robbery.

    Chishak said that between January and February, the command recovered about 3,500 litres of Premium Motor Spirit ( PMS ) known as petrol from various black marketers within Jos -Bukuru metropolis.

    Read Also: NSCDC urges unlicensed security guards companies to stop operating

    According to her, the suspect’s ‎are currently facing trials and those who are found guilty will be convicted.

    She also lamented the rise in the theft of solid minerals and illegal mining, adding that such activities were not only criminal but detrimental to the environment.

    Chishak cautioned those who engaged in the ugly acts, which she described as ‘national sabotage’ to desist from them.

    She assured that the command would continue to ensure that those caught in the act would be made to face the full wrath of the law.

    NAN

  • Nigeria’s under-recovery petrol importation hits N1.4tr

     

    The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, Thursday disclosed that Nigeria currently records about N1.4 trillion yearly as under-recovery from its importation and sale of Premium Motor Spirit at N145 per litre.

    He spoke at a meeting in Abuja where stakeholders in Nigeria’s Liquefied Petroleum Gas (LPG) sector met to review the challenges of the LPG market and find ways to mainstream it into the country’s fuel market, Kachikwu, explained that it was time Nigeria began to look at alternative fuel sources like LPG which are clean and less expensive for the country.

    He also stated that the President, Muhammadu Buhari, would in the next two months launch an infrastructure rebirth plan with which the country would leverage to attract private finance to upgrade her oil and gas infrastructure.

    His words: “Clean energy is very essential and we need to move away from complete utilisation in our transport sector of only PMS which is creating a lot of under-recovery of N1.4 trillion per annum of exposure to the government.”

    The minister said that : “At the end of the day, we begin to go into other components of cleaner fuels and rely less on the PMS that is gotten from out of the country.”

    When asked to clarify if the current figure on petrol under-recovery was annually and how the federal government felt about it, the minister said: “Yes, currently. That is being addressed at a very high level and I don’t want to go into that.”

    In March, the Nigerian National Petroleum Corporation (NNPC), disclosed that its current expenditure on petrol subsidy was N774 million daily, and that the 50 million litres of petrol was consumed across the country every day.

    NNPC’s Group Managing Director, Dr. Maikanti Baru, described the amount as “under-recovery,” adding that the huge fund was due to the proliferation of filling stations in communities with international land and coastal borders across the country.

    Kachikwu, also indicated that the government would launch an infrastructure rebirth plan for the oil and gas industry. The rebirth plan he noted would enable private investors put in money in key infrastructure assets across the entire value chain of the sector.

    “I think government is focused in all the areas. We are hoping to launch an infrastructure rebirth map for the oil sector over the next two months, and I hope his excellency, the president will launch that.

    “The effect is that it will be to open up tariff and create policy positions that will enable people to actually go in and invest in critical infrastructure that is needed because anywhere you go, whether it is distribution of petroleum products massively through trucks and rather than through pipelines, whether it is been able to take crude into refineries or distribute gas throughout the country, infrastructure is so key.

    “There are lots of stranded gas and power everywhere. Distribution is key, infrastructure is key. We need to find a way of finding enough incentives to enable the private sector go in very bullishly and put the money where it is supposed to be,” he explained.

    On the significance of the LPG meeting, he said: “Coming from this meetings we are having, we will come up with recommendations of what DPR needs to do to deepen licensing issues and enforcement issues, but over and above just going after individuals who have done it wrongly; what are the incentives, schemes and structures we need to put in place, and it just goes to tell u where the storage capacities for the gas we have been buying; where are the official distribution and sales centers. If we deepen the regulation, deepen the licensing and enforcement, we should be able to get there.”

    He added that “But like you know, we already have a gas policy which was approved at FEC and all of this is in there. What this group is going to do is to take a piece of that as it concerns LPG and say how we can take that policy document and expand and activate the whole LPG.”

    Read Also: NNPC declines Falana’s request for information on ‘proposed’ petrol price
  • Petrol crisis: NNPC imports $5.8bn worth of PMS

    Petrol crisis: NNPC imports $5.8bn worth of PMS

    The Nigerian National Petroleum Corporation (NNPC) said it spent about 5.8 billion dollars to import Premium Motor Spirit (PMS) popularly known as petrol to combat fuel crisis that resurfaced since late last year.

    In a statement signed by Mr Ndu Ughamadu, the Group General Manager, Group Public Affairs unit in Abuja, on Tuesday, it said the PMS was equivalent of 9.8 million metric tons.

    According to the statement, the Group Managing Director of the corporation, Dr. Maikant iBaru, disclosed this during a public hearing by the Senate Committee on Public Accounts at the National Assembly in Abuja.

    Represented by the Chief Operating Officer, Finance and Accounts, Mr. AbdulrazaqIsiaka, he said that the corporation carried out the massive importation in fulfilment of its statutory role of supplier of last resort.

    This, he said was to ensure that Nigerians do not suffer as a result of product unavailability.

    The GMD in the statement noted the corporation’s provision of 9.8 million metric tons of petrol so far had helped a great deal in ameliorating the suffering of Nigerians.

    He said the corporation’s intervention became necessary following the inability of the major and independent marketers to import the product.

    He pointed out that cross-border smuggling due to price disparity between Nigeria and neighbouring countries as well as logistic issues in trucking products to different locations across the country remained serious challenges in the quest for fuel queue-free situation in the country.

    The Chairman Senate Committee on Public Accounts, Sen. Matthew Uroghide, noted that the public hearing was a part of the Committee’s duty to find lasting solutions to the problem of fuel scarcity in order to make life easy for all Nigerians.