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NNPC Battles Deepening Fuel Scarcity As Black Market Booms

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The Nigerian National Petroleum Company Limited (NNPC) has pledged to eliminate the fuel queues for Premium Motor Spirit (PMS), also known as petrol, by Wednesday.

This commitment comes as the black market for PMS thrives, with vendors selling the fuel in jerrycans for exorbitant prices of up to N1,200 to N1,500 per liter.

Despite NNPC’s assurance, oil marketers report that product loading at depots remains slow.

The company has also denied owing international oil traders $6.8 billion, a claim some attribute to the widespread PMS scarcity in Nigeria.

NNPC attributes the scarcity to challenges in evacuating PMS from vessels.

The situation remains dire, with no immediate relief in sight for consumers struggling to access fuel at official prices.

NNPC is Nigeria’s only importer of petrol. Other dealers stopped importing the commodity due to their inability to access the United States dollar required for petrol imports.

The Chief Corporate Communications Officer of NNPC, Olufemi Soneye, told one of our correspondents that the oil firm was working hard to tackle the fuel supply challenges, stressing that the queues should clear by mid-week.

“It’s just an evacuation challenge out of Apapa (ports in Lagos) from the vessel. But we are working on it. It should be resolved. I’m very sure that fuel scarcity will be cleared out by Wednesday,” Soneye stated on Sunday.

He later issued a press statement on the matter, saying, “The NNPC Ltd regrets the tightness in fuel supply witnessed in some parts of Lagos and the FCT (Federal Capital Territory), which is as a result of distribution challenges.

“The company further urges motorists to shun panic buying as it is working round the clock with relevant stakeholders to restore normalcy.”

But operators said that the fuel supply situation at the depots had yet to improve as of Sunday.

An official of one of the top petroleum companies in Nigeria said the company was out of stock.

“We don’t have supply yet. For us and many depots in Apapa, it’s nil stock,” the official, who spoke in confidence due to lack of authorisation to speak on the matter, stated.

An oil marketer disclosed that the scarcity might get worse in Lagos during the week as there was no improvement in supply.

“The scarcity may get worse in Lagos during the week. Nothing is changing yet. Though motorists still get the product to buy although at very high rates,” the marketer disclosed.

A depot operator revealed that “depots will still get supplies this week, but definitely it will not be enough to meet desired demand to bring down the fuel crisis.”

The manager of a filling station in Abeokuta, the Ogun State capital, said a litre of petrol was N880 as of Friday.

The manager, who identified himself simply as Adeyanju, said his principal had not been able to get fuel since Friday, adding that the private depots were hiking the price of petrol.

On his part, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the challenges in the downstream oil sector were compounded by the recent nationwide hunger protests.

“Aside from the fact that there is not enough supply, the recent protests disrupted activities in the downstream oil sector. We are still struggling to sort that one out and there is also the challenge of low supply of petrol,” he stated.

  • NNPC Denies Indebtedness

In a similar development, the national oil firm said on Sunday that it does not owe international oil traders $6.8bn.

The company also denied claims that it has not remitted funds into the federation account since January.

Soneye, in a statement, reacted to different allegations against the state-owned energy firm.

It was alleged that NNPC owed some of its suppliers, being the sole importer of petrol into Nigeria, though Soneye acknowledged that such transactions were done on credit.

“NNPC Ltd does not owe the sum of $6.8bn to any international trader(s). In the oil trading business, transactions are carried out on credit, so it is normal to owe at one point or the other.

“But NNPC Ltd through its subsidiary, NNPC Trading, has many open trade credit lines from several traders. The company is paying its obligations of related invoices on a first-in-first-out basis,” Soneye stated.

However, he did not state the financial obligations NNPC is currently attending to.

On remittances, he said, “It is not correct to say that NNPC Ltd has not remitted any money to the federation account since January. NNPC Ltd. and all its subsidiaries remit their taxes to the Federal Inland Revenue Service regularly.

“This is in addition to payments of CIT (company income tax) to road contractors under the Road Investment Tax Credit Scheme. In all, NNPC Ltd is the largest contributor to the tax revenue shared every month at the Federation Account Allocation Committee.”

Soneye maintained that the NNPC is not a regulator and has nothing to do with the quality of imported fuel.

“On the issue of quality/quantity fiscalisation of imported petroleum products, NNPC Ltd has no role whatsoever as it is not a regulator. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, which is the relevant regulatory agency in charge of such issues, is an independent body and does not report to the NNPC Ltd,” he noted.

He explained that the NNPC is not averse to inquiries by the media into issues on and around its operations before dissemination to the public either through the print or electronic channels of communication.

“The company will, always, gladly take the opportunity to state the facts of the subject matter(s). This is in line with the company’s commitment to the Transparency, Accountability, and Performance Excellence philosophy as emplaced by the Mele Kyari-led management since stepping into the saddle in 2019,” Soneye said.

  • Queues In States

Despite NNPC’s assurance and defense, the queues for petrol lingered in many states and Abuja, while the cost of the commodity crossed N1,000/litre in some locations.

Fuel scarcity persisted in Abuja, Nasarawa, Niger, and neighbouring states. It resurfaced in Lagos on Sunday.

According to The Punch, there are queues to the Northwest filling station inward Gbagada stretched to the West End bus stop along the Gbagada-Oworonshoki Expressway.

The queues at the NNPC filling station at Ogudu stretched across the nearby bridge. It was the same scene at the MRS filling station at the Estate bus stop.

In Osogbo, Osun State, petrol was unavailable in most filling stations observed in Ayetoro, Old Garage, and Ota Efun Area, while a handful of independent marketers dispensing fuel sold the product for N800/litre.

Motorists and commuters decried the increase in petrol prices in Edo State. Independent marketers sold it for between N830 and N890/litre in the state capital while the outlets owned by major marketers sold for between N680 and N688/litre.

The cost of transportation worsened in Uyo as petrol sold for between N900 and N950/litre in the metropolis.

Residents of Gombe State lamented the increase in the cost of PMS across most filling stations in the state.

Petrol scarcity in Bauchi State did not change as customers stayed in long queues to buy the product on Sunday.

Residents of Lafia, the Nasarawa State capital, lamented the hike in the price of PMA and the scarcity of the product.

The scarcity was also pronounced in Sokoto State as many residents expressed frustration over the development.

The fuel scarcity in the Kaduna metropolis and its environs continued unabated on Sunday, causing untold hardship to motorists and other road users.

In Benue State, petrol was sold at between N960 and N980/litre in many filling stations.

 

Credit: The Punch

BIG STORY

400 Sex Tapes: Equatorial Guinea’s Baltasar Remanded In Prison

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The former Director-General of the National Financial Investigation Agency in Equatorial Guinea, Baltasar Engonga, has been remanded in Malabo’s Black Beach Prison.

The embattled former anti-graft chief was arrested days ago for allegedly recording over 400 sex tapes involving the wives of prominent figures in the country.

This scandal surfaced during a fraud investigation into the 54-year-old economist, resulting in an impromptu search of his home and office by ANIF officials, who reportedly discovered several CDs that revealed his sexual encounters with different married women.

As the footage leaked online, causing a media uproar, Equatorial Guinea’s President, Obiang Nguema Mbasogo, dismissed Engonga.

According to Decree No. 118/2024, dated 4th November, the dismissal was due to “irregularities committed in the exercise of his functions, as well as inappropriate family and social conduct for the performance of public duties.”

A viral video surfaced on social media on Friday, showing Engonga handcuffed on both hands and legs during a court appearance.

Confirming the situation, French online blog Afrikmatin reported that Engonga, who was officially removed from his role on November 6, 2024, was subsequently chained and transferred to Malabo Central Prison. He faces charges of corruption and embezzlement.

Additionally, online newspaper UGStandard reported that the sex tapes began circulating on social networks while Engonga was already held at Malabo’s notorious Black Beach Prison on charges of embezzling public funds, as reported by state television, TVGE.

In a fact-checking report published Wednesday, Dubawa verified that Engonga had indeed been taken into custody on corruption charges and is currently being held in Black Beach Prison.

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BIG STORY

JAPA: Canada Tightens Visa Rules, Ends Automatic 10-Year Multiple-Entry Visas

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Canada will no longer automatically grant 10-year multiple-entry visas to tourists, according to new guidelines issued by Immigration, Refugees and Citizenship Canada.

This decision marks a shift from the previous practice where eligible visitors were routinely issued long-term visas, permitting multiple entries over a decade.

Under the revised rules, immigration officers now have discretion to issue visas with shorter durations based on individual assessments.

Instead of a default extended validity period, each application will be evaluated on a case-by-case basis.

Officers can decide whether to grant a single-entry or multiple-entry visa and determine its duration, moving away from the automatic issuance of maximum-validity multiple-entry visas.

“Guidance has been updated to indicate that multiple-entry visas issued to maximum validity are no longer considered to be the standard document. Officers may exercise their judgement in deciding whether to issue a single or multiple-entry visa and in determining the validity period,” said the IRCC.

The IRCC explained that this change is part of a broader strategy aimed at managing temporary immigration levels while addressing ongoing challenges such as housing shortages and rising living costs.

The policy adjustment reflects the Canadian government’s efforts to adapt its immigration approach in response to economic and infrastructure pressures.

Previously, Canada offered two types of tourist visas: multiple-entry and single-entry. Applicants were generally considered for the multiple-entry visa, which allowed them to visit the country multiple times over a period of up to 10 years or until one month before their passport’s expiration date.

Single-entry visas, issued for specific situations like official visits or participation in single events, were less common.

Now, with the updated guidance, maximum-validity multiple-entry visas will no longer be the standard offering.

Immigration officers will exercise their judgement to decide on the appropriate type and duration of the visa, tailoring it to the specific needs and circumstances of the traveller.

The application fee for a Canadian visitor visa remains unchanged at CAD 100 per person, with no difference in cost between single-entry and multiple-entry options.

However, the shift may result in increased application costs for frequent travellers, who might need to apply more often due to shorter-term visas.

This policy change is part of a wider effort to balance immigration levels with Canada’s current infrastructure capabilities.

Other measures announced include a reduction in the target for permanent resident admissions, which will drop from 500,000 in 2025 to 395,000, with further decreases planned for 2026 and 2027.

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BIG STORY

MC Oluomo Elected NURTW National President

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Former Chairman of the National Union of Road Transport Workers, Lagos State Chapter, Mr. Musiliu Akinsanya, popularly known as “MC Oluomo,” was elected the new National President of the Union on Saturday.

Akinsanya was the sole candidate in the election, which took place at the Union’s Zonal Secretariat along the Osogbo/Ikirun road.

Delegates from the four Southwest states of Lagos, Ogun, Ondo, and Ekiti participated in the election.

The election, held during the Union’s Quadrennial Delegate Conference, was monitored and observed by the acting National President of the group, Aliyu Issa-Ore.

Issa-Ore, addressing the gathering, explained that the Union’s Constitution stipulates that the zone permitted to fill the national president’s position would elect its preferred candidate and present them to the national body.

The acting NURTW President, represented by Mrs. Adedamola Salam, Head of Finance at the National Headquarters in Abuja, added, “The Southwest zone has fully complied with the Constitution in electing Oluomo as President.

The delegates also elected Tajudeen Agbede as Vice President, Southwest, while Akeem Adeosun was chosen as Trustee from the Zone.

Shortly after taking the oath of office, Akinsanya, surrounded by associates and family members, called for peace and pledged to work towards unity among members.

He further stated, “I have forgiven everyone who has offended me, and I hope those I have offended will forgive me as well.

“This is our union, and we must be committed to preserving it. We will not allow anyone to destroy our means of livelihood.”

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