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Fuel queues persist in Abuja, black marketers sell for N300/litre

Published

3 years ago

May 10, 2022

…NNPC blames low loadouts, increased demand

Fuel queues persisted in the Federal Capital Territory on Monday as filling stations struggled to control desperate drivers waiting to buy the Premium Motor Spirit, PMS, at the official price.

Racketeers had a field day, selling a litre of PMS at N300 in different parts of the FCT.

In Kubwa, a litre of fuel went as high as N320, rising to N400 in Asokoro and other prime parts of Abuja, The PUNCH gathered.

One of the racketeers, who identified himself as Usman, said he stored fuel in several gallons, with the belief that fuel would be scarce at some point in the future.

Another racketeer, Bala, claimed that he was still selling his reserves.

“When there is scarcity, I buy from some filling stations at night. I usually pay extra N200 or more for a 10-litre gallon. I buy at N 2000 and sell N3,500,” he said.

Vehicle drivers told The Punch that they spent between two and four hours at various filling stations before buying PMS.

A commercial vehicle driver, George Akinsanya, said he spent three hours at Oando Filling Station opposite the NNPC depot in Abuja before buying the PMS.

Akinsanya said, “We need to find a solution to this perennial problem of fuel scarcity. It is looking like filling stations are looking for this type of opportunity to make money. Last time there was fuel scarcity, they sold at higher prices at night and limit sales to one or two pumps in the day.”

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A driver, Mr Udoka Uzondu, who said he waited to buy PMS at an NNPC depot in Abuja, urged the government to put an end to the scarcity to reduce the plight of the common man.”

Fuel queues have become a recurring decimal in Nigeria, especially the FCT. In the first quarter of the year, fuel scarcity disrupted economic activities, leading to an increase in inflation to 15.92 per cent, from 15.70 per cent.

The PUNCH reported on Monday that most filling stations in Abuja and neighbouring states of Nasarawa and Niger that dispensed Premium Motor Spirit, popularly called petrol, were on Sunday greeted with long queues.

It was observed that many other outlets were shut as they claimed not to have products to dispense, a development that led to the crowding of the filling stations that dispensed the commodity.

Meanwhile, the Nigerian National Petroleum Corporation has ascribed the sudden appearance of fuel queues in parts of Abuja to low loadouts and increased purchases that characterise post-holiday periods.

In a statement, the spokesman for NNPC, Garba Deen Muhammad, said on Monday that the company had sufficient fuel supplies to satisfy the demands of Abuja residents for over six weeks.

The statement partly read in part, “The NNPC Ltd notes the sudden appearance of fuel queues in parts of Abuja. This is very likely due to low loadouts at depots which usually happen during long public holidays, in this case, the Sallah celebrations.

“Another contributing factor to the sudden appearances of queues is the increased fuel purchases which are also usual with returning residents of the FCT from the public holidays.”

He further said the NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, in conjunction with our marketing partners, had taken necessary measures to ramp up loadouts from all depots.

He assured all residents of the FCT and Nigerians that NNPC had ample local supplies and national stock in excess of 2.5 billion liters, with the sufficiency of more than 43 days.

“The NNPC Limited hereby advises motorists not to engage in panic buying as supplies are adequate as will become increasingly evident in the coming days.”

But the Chief Executive Officer of the Centre for Promotion of Private Enterprise, Dr Muda Yusuf, urged the Federal Government to deregulate the industry to avoid long queue recurrences.

Related Topics:abuja Black Marketers Fuel queues

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BREAKING: FEC proposes N47.9 trillion budget for 2025 fiscal year

Published

9 hours ago

November 14, 2024

Trends Admin

BREAKING: FEC proposes N47.9 trillion budget for 2025 fiscal year

The federal government has unveiled a proposed budget of N47.9 trillion for the 2025 fiscal year.

Atiku Bagudu, Minister of Budget and Economic Planning, disclosed this to journalists on Thursday following the Federal Executive Council (FEC) meeting chaired by President Bola Tinubu.

Bagudu revealed that the council had approved the Medium-Term Expenditure Framework (MTEF) for 2025-2027.

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According to the minister, the government has pegged the crude oil benchmark at $75 per barrel, with an oil production target of 2.06 million barrels per day (bpd).

The budget also sets the exchange rate at N1,400 per dollar and aims for a gross domestic product (GDP) growth rate of 6.4%.

BREAKING: FEC proposes N47.9 trillion budget for 2025 fiscal year

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EFCC arrests ex-NCMB boss over $35m energy project fraud

Published

9 hours ago

November 14, 2024

Trends Admin

EFCC arrests ex-NCMB boss over $35m energy project fraud

The Economic and Financial Crimes Commission (EFCC) told FIJ that they have arrested Timber Wabote, the former executive secretary of the Nigerian Content Development and Monitoring Board (NCMB), on the grounds of a failed $35 million Bayelsa refinery project fraud.

Dele Oyewale, the EFCC’s spokesperson, confirmed this to FIJ on Thursday.

“It is true,” Oyewale responded to FIJ’s inquiries.

Wabote is accused of misappropriating public funds for a refinery project that should have improved local energy production.

Vanguard reported that the NCDMB under Wabote paid $35 million to support the development of energy infrastructure in the Brass Local Government Area of Bayelsa, yet there was nothing to show for it.

The EFCC picked Wabote up following the arrest of Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, for alleged misappropriation, money laundering and diversion of $35 million in public funds.

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“NCDMB under the watch of Wabote allegedly paid the $35 million to Akindele to build a 2,000 barrel per day (BPD), refinery, jetty, gas plant, power plant, data centre and tank farm at Brass free trade zone (FTZ), Okpoama Community in Brass LGA of Bayelsa State,” a source with the EFCC had explained.

Since December 2020 when the payments were made, Akindele abandoned the project with little or nothing to show for the huge sum he received.

Preliminary investigations showed that Wabote’s NCDMB financed 17 different projects, including the 2,000 BPD refinery in Brass LGA.

There has been a series of public fund misappropriation cases in the energy sector in recent times.

FIJ earlier reported that members of the House of Representatives summoned three ministers to defend how over $2 billion was spent on renewable energy with not much to show for it.

A recent FIJ report also recently detailed how residents of Yenagoa, the capital of Bayelsa, have not had power in their homes since July due to the vandalisation of the Ahoada-Yenagoa transmission towers caused by unidentified persons.

The Bayelsa state government told FIJ it was the federal government’s responsibility to provide electricity for residents. The state has no renewable energy options reliable enough to power its capital despite the multi-million-dollar NCMB energy project.

Transparency in the energy sector has become necessary at a time when Nigerians have suffered power instability due to frequent grid collapses.

EFCC arrests ex-NCMB boss over $35m energy project fraud

metro

Court adjourns Yahaya Bello’s trial till Nov 27

Published

10 hours ago

November 14, 2024

Trends Admin

Yahaya Bello

Court adjourns Yahaya Bello’s trial till Nov 27

The Economic and Financial Crimes Commission (EFCC) has requested an adjournment in the new case against the immediate past Governor of Kogi State, Yahaya Bello, stating that the 30-day window for the previously issued summons is still active.

The commission has granted administrative bail to his co-defendants, Umar Oricha and Abdulsalami Hudu, and asked the court for an extension of time for Bello to appear.

At the resumed hearing before Justice Maryann Anenih of the Federal Capital Territory High Court, Abuja, EFCC Counsel Jamiu Agoro noted that the court’s order from October 3rd had not yet expired.

“In that wise, we feel it will not be appropriate for us to take proceedings while that 30 days is still running. So we have discussed and agreed to come back on the 27th day of November, 2024, my lord,” he told the court.

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He also mentioned that the previously set date of November 20th was not convenient for the prosecution counsels.

Counsel to the second defendant, Aliyu Saiki, SAN, confirmed that his client had been granted administrative bail by the prosecution and had no objection to the adjournment request. The third defendant’s counsel, ZE Abass, concurred.

The prosecution counsel also requested the court to allow the notice of hearing to be pasted on the last known address of the first defendant.

After hearing from all counsels, the judge granted the EFCC’s application for adjournment and the issuance of the hearing notice.

“I have considered the application for adjournment by the complainant and issuance of hearing notice and the submission by the second and third defendants. The application is granted,” she said.

Justice Anenih then adjourned the case to November 27th for arraignment.

The former governor, alongside Umar Oricha and Abdulsalami Hudu, are being prosecuted as 1st to 3rd defendants, respectively, in a fresh 16-count charge instituted against them by the EFCC.