Business

FG promises to end fuel queues next week, turns back petrol vessels from Belgium

Published

5 years ago

February 17, 2022

The Federal Government says the lingering fuel crisis resulting in long queues at filling stations will end next week.

It has also turned back five Nigeria-bound petrol-laden vessels from Belgium where the initial bad fuel was said to have been imported.

Group Managing Director of NNPC Limited, Mele Kyari, disclosed this on Wednesday during a session with House of Representatives Committee on Petroleum Resources (Downstream).

He also said the corporation had filed for damages against the suppliers of the off-spec fuel.

He stressed that the NNPC was doing everything to ensure product availability.

Already, he said that about 2.5 billion litres of PMS were being expected before the end of the month.

Kyari said, “For this current situation, I assure you that we have taken every necessary step to restore supply into this country.

“We have placed orders significant enough for us to cross into March, with at least 2.1 billion litres of PMS in our custody.

“The situation you’re seeing today, I can assure you that by next week, it will vanish, all things being equal.”

On why inspectors did not detect methanol, Kyari said: “It is not part of their requirements at the load port. So, we didn’t ask them to declare whether it contains methanol because it is not part of our specification.

“Let me make it clear that methanol is not contamination. It is a regular additive to PMS. In China, up to 15 per cent of PMS contains methanol.

“On its own, it is not a contamination. The key issue is handling methanol. If we knew, we will not accept this. Anytime methanol comes in contact with water, it emulsifies, it turns into a different chemical.

“We didn’t know until our inspecting agents, on 20th of January to be precise, called our attention to the fact that they had seen emulsification in some of the depots and this may be a cause of concern.

“That was how we went ahead to check all the deliveries in our hands from all the four vessels that had already been discharged to confirm that all of them contain methanol.

“We quarantined all the volumes wherever they were in depots transit and we were able to track them. We were able to trace all of them and quarantine them.

“Not only that. We are also expecting several other supplies to come from other sources.

“We checked their origin and confirmed that five other vessels are coming from the same shipping terminal that loaded this and we rejected all of them; they did not sail into our waters.”

He added: “We did not test for methanol both at the load port and by the NNPC and the regulatory authority. I was very clear on this.

“What they (importers) are saying is that ‘what I brought met your specification.’ But what they probably also did not know is that it contained methanol and that methanol originated from the loading terminal.

“It is a legal issue, but it is nowhere sustainable because we have also filed liquidated damages which they can pass on until it gets to the originating depot.

“The liquidated damages can be a legal process where you may not even be able to recover your possession.”

Kyari reassured Nigerians every necessary step has been taken to ensure supply sufficiency.

“Let me tell Nigerians that we have a robust supply plan. By the end of this month, we’ll have about 2.1 billion litres of PMS.

“What we call panic buying is a situation where people who usually go the filling stations to buy N2,000 worth now buy five times that volume and those with more than one car will bring out all their cars.

“That is why you see all these cars in the filling stations and it creates supply disruption.

“We are assuring Nigerians that we have a robust supply plan and there is no need to bring out all your cars. Just buy what you need because there are plans to address this situation.”

He expressed regret over the economic disruptions and hardship.

“We are very conscious of the consequences that will come with it – the queues that you are seeing, the disruption of the economic activities that are very obvious. We are aware of this.

“We regret this situation and it is completely unavoidable. We didn’t see it coming. I apologise to Nigerians that we didn’t see it coming.”

A member of the Committee, Adedeji Olajide, said NNPC’s ignorance about the PMS containing methanol was not an excuse, adding somebody must be held responsible.

Related Topics:Featured fuel crisis NNPC

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NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Jobs

Published

12 hours ago

September 21, 2026

Trends Admin

NADDC Pushes Affordable Auto Loans to Boost Vehicle Ownership, More Job

The National Automotive Design and Development Council has called for far-reaching reforms in vehicle financing to make car ownership more affordable while boosting local vehicle assembly, job creation and industrial development.

The Council said a properly structured financing system could turn vehicle credit from a mere consumer lending product into a major economic tool for expanding productive mobility and strengthening Nigeria’s automotive value chain.

Director-General of NADDC, Otunba Joseph Oluwemimo Osanipin, stated this in an address delivered on his behalf by the Council’s Principal Information Officer, Tanko Kyumnom, at the Lagos Chamber of Commerce and Industry (LCCI) Auto Sectoral Group Symposium in Lagos.

The symposium, held on Thursday, September 17, 2026, at the Henry Fajemirokun Hall of LCCI, was themed: “From Subsidy to Credit: Can Vehicle Financing Replace Fuel Subsidy as Nigeria’s Mobility Equaliser?”
Osanipin said the growing cost of mobility had made it necessary to explore financing models that would enable individuals, businesses and transport operators to acquire vehicles without bearing the full cost of ownership upfront.

According to him, spreading vehicle payments over an agreed period could provide a more sustainable pathway to vehicle acquisition, provided that the financing products are affordable, accessible and structured around the economic realities of Nigerian consumers.

He, however, cautioned that simply making credit available would not be enough.
“Vehicle financing offers a more sustainable approach by enabling individuals, businesses and transport operators to acquire vehicles and pay for them over time,” Osanipin stated.
The NADDC DG said the bigger opportunity lies in linking vehicle financing with the growth of locally assembled and Nigerian-made vehicles.

He explained that increased access to credit for locally produced vehicles could generate wider economic benefits by stimulating demand for domestic assembly, supporting component manufacturers, creating jobs and strengthening local supply chains.

Osanipin therefore urged stronger collaboration among government institutions, financial institutions, vehicle manufacturers and other stakeholders in designing financing schemes capable of supporting both mobility access and automotive industrialisation.

The NADDC boss identified affordable vehicle loans, leasing arrangements, fleet financing, credit guarantees and appropriate interest-rate support as mechanisms that could broaden access to vehicle ownership and productive mobility.

lt also stressed the need for repayment structures that take into account the earning patterns and business realities of Nigerians, particularly transport operators and small businesses whose vehicles are directly linked to their income-generating activities.

Osanipin maintained that the objective should extend beyond increasing the number of vehicles on Nigerian roads.
“The goal is not simply to put more vehicles on Nigerian roads. It is to ensure that Nigerians can access productive mobility without placing an unsustainable burden on government finances or household incomes,” he said.

According to him, a properly structured automotive financing system could create a stronger connection between mobility, economic inclusion and domestic vehicle production.

“With the right policies and partnerships, vehicle financing can become a powerful instrument for mobility, economic inclusion and automotive industrial development,” Osanipin added.

The NADDC’s position places vehicle financing within the broader effort to build a sustainable automotive ecosystem in Nigeria—one in which access to credit supports vehicle users while also creating stronger demand for local assembly, components and associated automotive services.

Auto

Jetour T1 Storms Abuja as Automaker Accelerates Nigeria Expansion

Published

17 hours ago

September 21, 2026

Trends Admin

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

Following a successful debut in Lagos, Jetour Nigeria will host the Jetour Experience Abuja from September 22 to 24, 2026, positioning its all-new T1 model as a major competitor in the country’s growing adventure SUV market.

The three-day event in the Federal Capital Territory will give prospective buyers and motoring enthusiasts direct access to product demonstrations, expert-led technical sessions, and hands-on test drives.

“Strong participation, extensive test drives, and significant sales enquiries at the Lagos edition, coupled with growing demand from Abuja residents, influenced the decision to bring the experience to the nation’s capital,” the company said in a statement. The show holds at Maha Event Centre, Area 8, Garki.

To support its growing national footprint, Jetour Nigeria has established a network of seven accredited dealers: Elizade Nigeria Limited, New Era AutoVehicle Services Limited, Kojo Motors, Germaine Auto Centre, Tab Autos Limited, R.T. Briscoe Motors, and Mandilas Autos. The partnerships cover retail sales, genuine spare parts supply, and comprehensive after-sales maintenance.

Jetour T1 Set to debut in Abuja as Expansion Gains Momentum

Auto

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Published

2 days ago

September 20, 2026

Trends Admin

Abuja Demand Rises as Jetour Brings X70 Plus Experience to FCT

Jetour Nigeria is taking its seven-seater X70 Plus SUV to Abuja as rising interest from motorists in the Federal Capital Territory and neighbouring states fuels the brand’s latest push to deepen its presence across Nigeria.

The X70 Plus will headline the Jetour Experience Abuja, holding from September 22 to 24 at Maha Event Centre, Area 8, Garki, following the strong response recorded during the Lagos edition, where motorists turned out for test drives and made enquiries about Jetour models.

The Abuja activation is designed to give prospective buyers direct access to the X70 Plus and other models, with opportunities to test-drive the vehicles, engage product specialists and experience their technology, safety and comfort features.

The X70 Plus is positioned as a family-oriented SUV, offering seven-seat capacity and a range of features targeted at customers seeking comfort, technology and practicality.

The SUV is available with 1.5-litre and 1.6-litre turbocharged engine options, with outputs of up to 145kW and 290Nm of torque, paired with a dual-clutch automatic transmission.