Business
Stakeholders, FG, Meet Over Fuel Scarcity
Stakeholders in the downstream sector of the oil and gas industry are to meet with the Federal Government in an effort to address the lingering fuel crisis in the country.
The meeting, which was scheduled at the instance of the Federal Government will have in attendance importers and bankers and would discuss modalities on how to bridge the distribution gap created by the inability of banks to finance the importation of premium motor spirit on the one hand and importers’ refusal to supply products to the Nigerian National Petroleum Corporation (NNPC) on account of huge debt owed the importers.
This has resulted to endless queues at the filling stations across the country as marketers who mostly depend on NNPC for their supplies have depleted their stocks.
The meeting will also fashion out ways through which banks can provide credit for oil marketers and how NNPC’s suppliers can also extend credit facilities in order to give the corporation enough time to pay the debt.
The NNPC has not recovered from the recent fire outbreak that affected its depot at Mosimi in addition to pipeline vandalisation and tanker drivers’ strike which have disrupted flow of products to the depots.
Speaking during a facility tour of a tank farm operated by Integrated Oil and Gas Limited in Lagos, the Minister of State for Petroleum, Odein Ajumogobia, said government is aware of the distribution gap and is working towards bringing an end to the recurring fuel crisis.
He explained that he was embarking on the facility tour to see how government would utilise the existing capacities in the country to ensure that the queues disappear at the filling stations.
According to Ajumogobia, government would exhaust every available opportunity to bring sanity to the petroleum industry.
Meanwhile, in its bid to ease the distribution challenges, the NNPC says about 18 million litres of premium motor spirit otherwise know as petrol, are currently being distributed to fuel marketers from its depot at Ore, Ondo State.
According to NNPC’s Group General Manager, Public Affairs division, Levi Ajuonuma, the corporation has a robust stock of petroleum products that, could serve the nation for the next 24 days, adding that cargo ships have been scheduled to supply the country with enough products all through the year.
Also, the NNPC said it expects to take delivery of 13 ship loads of refined products this month to tackle scarcity that hit the West Africa nation three mouths ago.
“We have nine ship loads that arrived last month and we are expecting 13 more to arrive this month” Ajuonuma said.
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