Business

Scarcity: NNPC counters MRS, says marketer, three others imported adulterated fuel

Published

3 years ago

February 10, 2022

Group Managing Director of NNPC, Mele Kyari

The Nigerian National Petroleum Company Limited has countered MRS Oil Nigeria Plc as regards the recent importation of adulterated Premium Motor Spirit, popularly called petrol, into the country.

NNPC’s Group Managing Director, Mele Kyari, named MRS and three other dealers as the firms that imported the contaminated products into Nigeria. This was, however, in contrast to the position of MRS.

A speech shared to selected broadcast media quoted Kyari as saying, “On January 20, 2022, NNPC received a report from our quality inspector on the presence of emulsion particles in PMS cargoes shipped to Nigeria from Antwerp-Belgium.

“NNPC investigation revealed the presence of Methanol in Four (4) PMS cargoes imported by the following DSDP suppliers namely:

“Importer vessel name load port,
1. MRS MT Bow Pioneer LITASCO Terminal, Antwerp-Belgium; 2. Emadeb/Hyde/AY Maikifi/Brittania-U Consortium MT Tom Hilde; 3. Oando MT Elka Apollon; 4. Duke Oil MT Nord Gainer.”

He said cargoes quality certificates issued at load port (Antwerp-Belgium) by AmSpec Belgium indicated that the gasoline complied with Nigerian specification.

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Kyari said NNPC quality inspectors including GMO, SGS, GeoChem and G&G conducted tests before discharge also showed that the gasoline met Nigerian specification.

“As a standard practice for all PMS import to Nigeria, the cargoes were equally certified by inspection agent appointed by the Nigeria Midstream and Downstream Petroleum Regulatory Authority has met Nigerian specification.

“It is important to note that the usual quality inspection protocol employed in both the load port in Belgium and our discharge ports in Nigeria do not include the test for per cent methanol content and therefore the additive was not detected by our quality inspectors.”

He noted that in order to prevent the distribution of the petrol, NNPC had ordered the quarantine of all un-evacuated volumes and the holding back of all the affected products in transit (both truck and marine).

“All defaulting suppliers have been put on notice for remedial actions and NNPC will work with the authority to take further necessary actions in line with subsisting regulations,” Kyari stated.

But MRS had on Wednesday denied any involvement in the imports of the adulterated products, as it explained that methanol was prohibited in petrol imported into Nigeria.

It said, “Due to current subsidy regime, NNPC is the sole supplier of all PMS in Nigeria. Consequently, NNPC through their trading arm Duke Oil, supplied a cargo of PMS purchased from international trader Litasco and delivered it with Motor Tanker Nord Gainer.

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“This vessel discharged in Apapa between the January 24 and 30, 2022 and the following major marketers with receiving quantities were the recipients of the product:
OVH, 10,000 metric tonnes; MRS, 5,000MT; NIPCO, 5,958MT; ARDOVA, 6,000MT; Total, 10,000MT.”

The company stated that being one of the beneficiaries, MRS received the product in its depot and distributed the product to only eight of its stations in Lagos.

It explained that following delivery into tank, it was observed that the product appeared hazy and dark, adding that the management of MRS immediately directed that further sale(s) should be stopped and the
product isolated.

The firm further stated that the allegation against MRS that it imported contaminated products, was therefore mischievous, false and untrue.

“MRS is not an importer of this contaminated PMS into the country, nor does MRS sell substandard products,” it stated.

Punch

Related Topics:adulterated Featured Fuel imported marketer MRS NNPC scarcity

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Railway

Lagos Rail Mass Transit part of FG free train ride – NRC

Published

22 hours ago

December 21, 2024

Trends Admin

Lagos Rail Mass Transit part of FG free train ride – NRC

The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.

The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).

This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.

While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.

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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.

“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.

Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.

He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.

Lagos Rail Mass Transit part of FG free train ride – NRC

Business

NNPC denies claim of Port Harcourt refinery shutdown

Published

23 hours ago

December 21, 2024

Trends Admin

Port Harcourt refinery

NNPC denies claim of Port Harcourt refinery shutdown

The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.

The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.

Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.

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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”

He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”

NNPC denies claim of Port Harcourt refinery shutdown

Business

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

Published

2 days ago

December 20, 2024

Trends Admin

CBN Governor, Olayemi Cardoso

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).

This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.

The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.

The arrangement will be in effect from December 19, 2024, to January 30, 2025.

Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.

Transactions to occur at the prevailing NFEM rate

The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.

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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.

The circular read in part:

“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).

This window will be open between December 19, 2024 to January 30, 2025.

“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”

The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”

These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.

This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.