metro

Petrol Scarcity To Linger As Cargoes ‘Stranded’

Published

3 years ago

March 3, 2022

There seems to be no end in sight to the biting petrol scarcity across the country as four of the 17 cargoes ordered by the Nigerian National Petroleum Company (NNPC) Limited, which have arrived, cannot discharge the product, Daily Trust reports.

This is happening at a time marketers say they cannot access the product at most of the NNPC depots nationwide.

Some of the marketers, who bought from private depots, are selling above the official price of N165/litre.

The NNPC had, last month when the scarcity started, cited the “importation of adulterated petrol” from Belgium.

In Abuja, Lagos and other parts of the country, black market operators currently sell for over N500 per litre; and many independent markets, N250/litre.

Sources at the NNPC blamed the current scarcity on supply and logistics issues.

One of the sources said out of the 17 cargoes ordered by the NNPC, four had arrived at the Lagos Port but could not discharge earlier this week as they were finding the space to berth.

According to the data from Daily Shipping Position by the Nigerian Ports Authority, 29 ships bearing petrol cargoes are expected to arrive at four ports between this week and next week.

The data shows that three ships belonging to MRS, WAPS and Pinnacle Petroleum are to arrive at Apapa Ports between Friday and Monday. At the Tin Can Island in Lagos, five ships, including that of AA Rano, Ibafon, Bovas and Capital Oil, were expected between Sunday and today; while one ship belonging to Dozzy Oil & Gas arrived on Tuesday at Calabar Port. Warri Port also got three ships yesterday with petrol belonging to Havilah, Nepal and Pinnacle Oil.

READ ALSO:

Nigerian ports still expect more ships to berth with petrol. At the Apapa Port, two ships are to berth this week at New Oil and Pinnacle jetties with over 50,000 tons of petrol. At the Tin Can Port, three ships are expected by tomorrow with 58,000 tons of petrol; two ships carrying 30,000 tons of petrol for Dozzy Oil & Gas and Amrah Gas will arrive at the Calabar Port on Saturday. And in Warri, 12 petrol-laden ships with at least 157,000-ton cargoes should arrive from yesterday to Saturday. The cargoes belong to key petrol marketers, including AYM Shafa, Matrix Energy and RainOil. Another two ships carrying 25,000 tons of petrol have arrived at the Warri port.

Explaining the ships’ arrival position, another official said until the ships discharged their content, petrol could not get to the depots. “See, it is when the petrol gets to the depots that the retailers get their allocation and take it to their stations for sale. In all, these issues may linger for a week or two,” he noted.

What marketers say

Some of the marketers Daily Trust spoke to blame the hike in petrol price on the lack of supply at NNPC depots nationwide. They said they had resorted to the private depots, which had increased the ex-depot price of petrol and as such the marketers were left with no choice but to also increase the pump price.

Speaking on this, Yusuf Abubakar, a petroleum marketer in Abuja, said: “We loaded our products from depots, especially private depot owners because the NNPC depots are not enough to accommodate every loading.”

The Chairman of the Independent Petroleum Marketers of Nigeria (IPMAN) for Benin Depot, Douglas Iyike, had, in a briefing in Lagos, said: “We want to place it on record that the increment is not due to any fault of oil marketers because we can only sell based on the price at which we buy petrol from the depots.

“There has been an increment in the ex-depot price, which has left marketers with no option than to increase the pump price of petrol above the official N165 per litre in recent weeks,” he said.

Daily Trust had reported last week that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) records showed that about 58 private depots got 387 million litres of petrol from the NNPC Ltd at the ports. But some depot owners confirmed that they had to increase their ex-depot price because the landing cost had risen from about N140/litre to N180/ after the NNPC Ltd began to charge the private depots an additional N500,000 as Ship-To-Ship (STS) coordination charge for petrol evacuation from ships since February 18.

An official of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) blamed the lingering scarcity on inadequate supply by the NNPC Ltd.

“If NNPC gives us as much product as we want, these queues will disappear. Right now, we have people who have paid since December and have not been given the product,” the official noted.

It was learnt that NNPC depots at Ibadan, Ilorin, Ejigbo and Mosimi were not loading as of yesterday. The President of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Alhaji Debo Ahmed, said currently, there was pressure in Lagos, urging the NNPC to supply the product to other NNPC depots to ease the pressure.

“They should push to Lagos satellites; it would reduce the tension in Lagos. Everybody is depending on Lagos. From Maiduguri, Sokoto, Yola, everybody is depending on Lagos. It is becoming too cumbersome,” he said.

READ ALSO:

On the fuel scarcity and resort to private depots by the marketers, the Executive Secretary of the Major Oil Marketers Association of Nigeria (MOMAN), Clement Isong, said there were alleged shipments of the product across Nigeria.

He said, “The market is insatiable coupled with the high price of crude in the international market. It has become more attractive to some to sell petrol outside Nigeria. Petrol is about N450 to N460 outside Nigeria. This has made it more attractive to sell it outside. However, MOMAN members are not selling above normal cost price.”

Crude oil hits $112/barrel as OPEC+ raises production

Meanwhile, as the faceoff between Ukraine and Russia continues, Brent crude soared to $112.5 per barrel yesterday while the Bonny Light, which is the Nigerian crude, was priced at $107.77/barrel.

The Organisation of Petroleum Exporting Countries (OPEC) stuck to its gradual adjustment plan at a meeting held yesterday in Vienna, Austria, where they agreed on a 400,000 barrels per day increment for April.

Nigeria had yet to meet its quota for December 2021 as its production was around 1.4mbpd due to production cuts by some international oil companies and other issues. In the new quota, Nigeria is expected to reach a daily oil production of 1.735mbpd rising from 1335mpd in the March quota. At least 41.694mbpd oil production is expected every day from OPEC and its allies – OPEC+ in April, the meeting held.

NNPC mum

The NNPC did not respond to the enquiry by Daily Trust yesterday on why the scarcity had persisted despite the assurance that it would end in a few days’ time. There was also no response from the NNPC spokesman, Garba Deen Muhammad, to a question on why the vessels could not discharge the product.

Daily Trust

Related Topics:Cargoes Featured petrol scarcity stranded

Up Next

Autopsy report on 19-month-old allegedly beaten to death by teacher out

Don't Miss

We make N80,000 daily from pickpocketing – suspects

metro

Tinubu to establish credit firm to bring down food, drug prices

Published

11 minutes ago

January 1, 2025

Trends Admin

President Bola Ahmed Tinubu

Tinubu to establish credit firm to bring down food, drug prices

President Bola Tinubu said yesterday the Federal Government hopes to bring down the price of food and promote local manufacturing of essential drugs and other medical supplies through the establishment of a National Credit Guarantee Company in the new year.

Tinubu, who disclosed this in his New Year nationwide broadcast to the nation, also asked states to key into the federal government’s Compressed National Gas, CNG, programme to reduce the cost of transportation for Nigerians.

The President equally said the youth confab he promised in the aftermath of the #EndBadGovernance protests across the country, would begin in the first quarter of 2025, as a testament of his government’s commitment to youth inclusiveness and investment as nation-builders.

This is as the main opposition party, the Peoples Democratic Party, PDP, charged the President not to taint the new year with an address that will not proffer immediate and concrete steps to reduce the price of fuel and address widespread hunger.

New coy to partner BOI, NSIA, others

According to the President, the new company, which is expected to begin operations before the end of the second quarter of the new year, is a partnership of government institutions, including the Bank of Industry, BOI, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, NSIA, the Ministry of Finance Incorporated, the private sector and multilateral institutions.

Tinubu, who noted that the initiative will strengthen the confidence of the financial system, expand credit access and support under-served groups such as women and youth, said the new company will help expand risk-sharing instruments for financial institutions and enterprises.

READ ALSO:

The President said: “As the new year dawns, it brings many hopes, aspirations, and prospects for better days. By the grace of God, 2025 will be a year of great promise in which we will fulfil our collective desires.

“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days. Economic indicators point to a positive and encouraging outlook for our nation.

“Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters. Foreign reserves have risen, and the naira has strengthened against the US dollar, bringing greater stability.

“The stock market’s record growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy. Nevertheless, the cost of food and essential drugs remained a significant concern for many Nigerian households in 2024.

“In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. We are resolute in our ambition to reduce inflation from its current high of 34.6% to 15%. With diligent work and God’s help, we will achieve this goal and provide relief to all our people.

“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“To achieve this, the Federal Government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

The company, expected to start operations before the end of the second quarter, is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.

READ ALSO:

“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.

“On a personal note, thank you for placing your confidence in me as your president. Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly.

“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.

‘’I seek your co-operation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united.

‘’We are on the right path to building a great Nigeria that will work for everyone. Let us not get distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion.

‘’To achieve our national goals and objectives, we must become better citizens and uncompromising in our devotion and allegiance to Nigeria.

‘’Citizens’ moral rectitude and faith in our country are fundamental to the success of the Renewed Hope Agenda. In 2025, we will commit to promoting adherence to ethical principles, shared values, and beliefs under the National Identity Project.

‘’I will unveil the National Values Charter, already approved by the Federal Executive Council, in the first quarter of 2025. I will launch an ambitious national orientation campaign that fosters patriotism and love for our country and inspires citizens to rally together.

‘’The Charter will promote mutual commitments between the government and citizens and foster trust and cooperation among our diverse population and between the government and the citizens.

Youth confab for the first quarter of 2025

‘’The Youth Confab will begin in the first quarter of 2025, a testament to our commitment to youth inclusiveness and investment as nation-builders. The Ministry of Youth will soon announce the modalities for selecting the conference’s representatives from our diverse, youthful population.

‘’Let me use this New Year’s message to urge our governors and local council chairpersons to work closely with the central government to seize emerging opportunities in agriculture, livestock, and tax reforms and move our nation forward.

‘’I commend governors who have embraced our Compressed Natural Gas initiative by launching CNG-propelled public transport. I also congratulate those who have adopted electric vehicles as part of our national energy mix and transition. The Federal Government will always offer necessary assistance to the states.

“To all citizens, your sacrifices have not been in vain over the past 19 months. I assure you they will not be in vain, even in the months ahead. Together, let us stay the course of nation-building.
The New Year will bring us closer to the bright future we all desire and the Nigeria of our dreams.

Tinubu to establish credit firm to bring down food, drug prices

metro

Tension as Anambra community union asks monarch to stop Ofala Festival

Published

33 minutes ago

January 1, 2025

Trends Admin

Tension as Anambra community union asks monarch to stop Ofala Festival

A crisis is brewing in Enugwu-Agidi Community of Njikoka Local Government Area of Anambra State, following an order by the community’s union, ordering its monarch to halt activities on his proposed Ofala Festival.

This has resulted in tension as arrangements had been concluded by the monarch before the news of the abolition of the exercise.

Ofala festivals are annual traditional festivals presided over by duly coronated monarchs to celebrate themselves and also commemorate their time on the throne. It is also a time when monarchs confer titles on deserving individuals.

READ ALSO:

But a letter signed by David Onuora, the President General of Enugwu-Agidi Brotherly Union and Israel Chineze, the Secretary-General, and sent to the monarch, His Royal Highness Igwe Michael Okekeuche, ordered him to desist from holding the festival.

The duo also wrote to the Anambra State governor, Prof. Chukwuma Soludo, and the Commissioner for Local Government and Chieftaincy Matter, TonyCollins Nwabunwanne, alerting them of their decision, saying that going ahead may cause a breakdown of law and order.

Tension as Anambra community union asks monarch to stop Ofala Festival

metro

Lagos govt clears traders from rail tracks at Bolade, Oshodi

Published

13 hours ago

December 31, 2024

Trends Admin

Lagos govt clears traders from rail tracks at Bolade, Oshodi

The Lagos State Government has removed traders operating on the rail tracks at Bolade, Oshodi, following a viral video that raised concerns about public safety.

The announcement was made by Tokunbo Wahab, Lagos State Commissioner for Environment and Water Resources, on Monday.

The clearance was done in collaboration with the Nigerian Army from the nearby Ikeja Cantonment.

Wahab’s statement read: “Following the viral video on social media, we’ve removed traders from the rail tracks at Bolade, opposite Arena Shopping Complex, in collaboration with Nigerian Army personnel from Ikeja Cantonment.”

READ ALSO:

The viral video, originally shared on X (formerly Twitter) by a user identified as @dipoaina1 on December 28, depicted scenes of buying and selling taking place perilously close to the railway tracks.

The footage showed an NRC train on the Lagos-Ibadan rail track passing by as people continued their activities undeterred. The post highlighted the dangers posed by the lack of barriers, with @dipoaina1 suggesting the railway route be fenced with barbed wire to prevent such risky behavior.

The government’s swift response underscores its commitment to ensuring public safety and maintaining order around critical infrastructure. This move also aligns with broader efforts to address safety challenges associated with urban rail transportation in Lagos. However, the incident highlights the need for sustained proactive measures rather than reactive actions to prevent future occurrences.