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Fuel Scarcity Bites Harder, Marketers Blame NNPCL

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•IPMAN to sell petrol at N270/litre as supply gap widens, lingers

•NNPC GMD defends subsidy, oil production now 1.52mbpd

As the petrol scarcity across the country continues to linger, oil marketers have accused the Nigerian National Petroleum Company Limited of politicising the supply process and making vain promises.

The oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria claimed they had gotten fuel, despite the assurances from the Managing Director of the NNPCL Retail, Hubb Stocksman, in December that they would receive direct product supply at the government-regulated price of N148/litre from this month.

“We have yet to see any product supply. Well, the man (Stockman) has been in Nigeria for some time now and is probably beating us to our game. He’s playing politics and we don’t see the situation abating soonest,” the Chairman of Satellite Depot, IPMAN, Akin Akinrinade said.

The IPMAN official said this as fuel queues worsened on Wednesday.

Akinrinade added that marketers as of last Friday bought products from the depots at between N235-N240 per litre, saying there was no way they would sell products below N270/litre even within the Lagos metropolis.

On what could be the lasting solution to fuel scarcity, he advised the Federal Government to revive the refineries to enable local production.

“The lasting solution is for the refineries to start functioning and we begin local refining,” he said.

Also speaking, the National Operations Controller of IPMAN, Mike Osatuyi, told The PUNCH that the removal of fuel subsidy and deregulation was the key to resolving the fuel scarcity menace.

“The permanent solution is to deregulate and remove subsidies. Allow the market to be a free market, where marketers other than the NNPC will be able to bring in products. Since the government said the subsidy would be removed in June, let’s wait and see, but until then, we have to manage,” he told The PUNCH over the phone.

Oil marketers

The Chairman of the Major Oil Marketers Association of Nigeria, Olumide Adeosun, also said the deregulation of the downstream sector would eradicate fuel scarcity.

“Having subsidised PMS for so long, Nigerian institutions now have a diminished capacity to deal with the current local energy crisis. A disruption in any part of the supply chain causes ripple effects and results in queues at stations. As a country, we must begin the process of price deregulation to reduce this inefficient subsidy,” he said.

According to him, if the country wishes to implement a subsidy, it must be in areas targeted to help those it should help such as in agriculture and transportation to reduce food inflation and generate more jobs for Nigerians.

He said, “We must find a way to liberalise supply. We must bring transparency and competition into supply to ensure steadier, more efficient supply at optimum prices. Imported products must compete with locally refined products to find a meeting point between the need for local refining and competitively low but cost-recovered prices for Nigerians for sustainability.

“The exploration, production, refining of crude oil and the distribution of refined products is an international business with ebbs and flows and has specific models, guidelines, rules, and norms designed to protect and sustain consumers of this type of energy and populations impacted by its supply chain. The government and the industry in Nigeria must demonstrably apply this accepted health, safety, environmental protection, and quality norms to be seen to care for its local populations. To cut corners would be irresponsible, unaccountable, and unsustainable.”

Long fuel queues were still seen across Lagos on Wednesday. Some motorists were seen queuing up for N170 per litre of fuel at stations belonging to MOMAN members, but stations belonging to IPMAN members rarely had customers, as those who could afford products sold for N250/litre and above, were seen freely driving in and out of their (IPMAN) stations.

Findings showed that while MOMAN members get fuel directly from NNPCL at a government-deregulated price of N148/litre, IPMAN members patronise private depots where prices are determined by market indices.

The Executive Secretary for the Depot and Petroleum Products Marketers Association of Nigeria, Olufemi Adewole, had told The PUNCH that just like the NNPCL, its members were on a “recover all” regime, adding that its members faced high costs of renting vessels, illegal fees, lack of forex at Central Bank of Nigeria’s official rate among others, as reasons behind increasing prices of products.

The spokesperson for NNPCL, Garba Deen, could not be reached on his official line for his comment on the lingering fuel crises.

NNPC defends subsidy

Meanwhile, the Group Chief Executive Officer of the Nigerian National Petroleum Company, Mele Kyari, on Wednesday said the oil firm was comfortable with the policy of the Federal Government on the subsidy of Premium Motor Spirit, popularly called petrol, despite the trillions of naira being spent subsidising the commodity.

He also announced that Nigeria’s crude oil and condensates production climbed to as high as 1.52 million barrels per day towards the end of December 2022.

 

Credit: The Punch

BIG STORY

JUST IN: Jigawa State Governor Loses 24-Yr-Old Son A Day After Mother’s Demise

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Tragically, just one day after the passing of his mother, Governor Namadi of Jigawa has now lost his 24-year-old son.

A statement from the governor’s spokesperson, Hamisu Gumel, confirmed that the governor’s son sadly lost his life in a road accident on Thursday.

“To Allah belongs that which He has taken, and to Him belongs that which He has given, and everything has an appointed time with Him.”

“With a heavy heart and total submission to the will of Almighty Allah, His Excellency Mallam Umar Namadi, Governor of Jigawa State, announces the passing of yet another member of his family; his dear son Abdulwahab Umar Namadi.

“He departed this world this afternoon (Thursday, December 26th, 2024) as a result of a ghastly motor accident along Dutse-Kafin-Hausa Road. “The burial rite is taking place at this moment in Kafin Hausa town, in accordance with Islamic traditions.

“A 24-year-old, late Abdulwahab is survived by his parents and many siblings. “To Allah belongs that which He has taken, and to Him belongs that which He has given, and everything has an appointed time with Him.”

 

More to come…

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BIG STORY

Sokoto Counters Military, Says 10 Civilians Accidentally Killed In Air Strike

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The Sokoto state government says no fewer than 10 civilians were killed when a military air strike targeted suspected terrorists in Gidan Bisa village, Silame LGA of the state.

Abubakar Bawa, press secretary to Ahmed Aliyu, governor of the state, wrote in a statement issued on Wednesday.

Bawa quoted Abubakar Rana, chairman of Silame LGA, as saying that the incident occurred around 6am on Christmas Day, when two military fighter jets “mistakenly” dropped bombs on the village.

Aliyu, who was accompanied by Aliyu Wamakko, leader of the All Progressives Congress (APC) in the state, and Muhammadu Maigari Dingyadi, minister of labour and employment, attended the funeral prayers for the victims.

Consoling the villagers, the governor described the incident as “unfortunate.”

“The military jets were on their mission to eliminate criminal armed groups terrorising the state and mistakenly bombed innocent people of this community,” he said.

“We consider this a mistake because the same military had on several occasions successfully raided many criminal hideouts in the state.”

Aliyu prayed for Allah’s forgiveness for the deceased and strength for their families.

Muhammad Sifawa, secretary to the state government, announced a relief package of N20 million and 100 bags of assorted foodstuffs for the families of the deceased.

He also assured that the state government would cover the medical bills of the injured.

The military had denied reports of civilian casualties in the bombing.

Reports said air strikes conducted by the air component of Operation Hadarin Daji, targeting the Lakurawa terrorist group, had inadvertently killed civilians in the Gidan Sama and Rumtuwa communities.

However, Abubakar Abdullahi, joint media coordinator for the operation, said the strikes targeted locations confirmed to be linked to the insurgents.

“All military operations are based on thorough intelligence and reconnaissance missions to ensure precision and protect civilian lives,” Abdullahi said.

“The targets struck in the vicinity of Gidan Sama and Rumtuwa were positively identified as associated with the Lakurawa group, reinforcing the justification for the military action.”

Olusola Akinboyewa, spokesperson for the Nigerian Air Force, told TheCable that the missiles were launched following credible intelligence from multiple sources and confirmatory aerial surveillance.

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BIG STORY

Adron Homes Celebrates Christmas With Customers, Reaffirms Commitment To Bridging Nigeria’s Housing Deficit

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As the world embraces the joy and warmth of the Christmas season, Adron Homes and Properties, Nigeria’s foremost real estate company, has extended heartfelt greetings to its esteemed customers while reaffirming its commitment to addressing the nation’s housing challenges.

In a message of gratitude and celebration, Adron Homes expressed deep appreciation to its customers for their trust and loyalty throughout 2024. The company highlighted its unwavering dedication to making incredible housing affordable for all Nigerians, in line with its mission of reducing the country’s housing deficit.

“Christmas is a time to celebrate family, unity, and gratitude,” the statement read. “As we reflect on the year, we are proud to have played a role in making homeownership a reality for thousands of Nigerians. Our vision is clear—to bridge the housing deficit by providing affordable, luxurious, and secure homes for all, regardless of income level.”

Adron Homes has continued to lead the real estate industry by implementing innovative solutions that make homeownership accessible, including flexible payment plans and cost-effective housing models tailored to meet diverse customer needs.

As part of its Christmas and end-of-the-year celebration, the company has launched a special festive promotions ‘Lemon Friday’ aimed at encouraging more Nigerians to join its growing community of homeowners.

“We remain committed to transforming dreams into reality. This is not just about building homes; it’s about building futures and creating opportunities for families to thrive in a space they can call their own,” the statement added.

Adron Homes extended warm wishes to all Nigerians and its global customers, urging them to embrace the season’s spirit of love and hope. “May your homes be filled with peace, joy, and prosperity this Christmas and beyond.”

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