Business
Kerosene:DPR Seals Two Filling Stations For Hoarding, Diversion
The Department of
Petroleum Resources (DPR) has sealed two filling stations for hoarding and diverting 25 truckloads of kerosene.
The filling stations are Sunmart Progress Nigeria Limited, at Giri on Gwagwalada Road, Abuja, and Ajifun Investment Nigeria Limited on Abuja-Kaduna Express Way, Suleja, Niger.
The stations were sealed during a routine inspection and monitoring of filling stations by the DPR led by its Manager, Downstream Monitoring Operation, Mr Idris Mohammed.
The Zonal Operations Controller, DPR Abuja, Mr Aliyu Halidu, told newsmen at the end of the exercise that Sunma filling station was sealed because it violated the rules of the petroleum sector.
The management of the station, according to him, stocked 24 trucks, ranging from 33,000 to 60,000 litres at Giri station, when the station did not have capacity to handle such volume.
He alleged that the station lifted 15 trucks of kerosene within two weeks and discharged only two and diverted 13 other trucks.
Halidu said the storage capacity of the station was 34,000 litres of kerosene against 684,000 litres it received from the depot within the period.
He said the action was a clear violation of laws and regulations governing procurement and distribution of petroleum products.
According to him, the attempt to divert, hoard and profiteer is viewed by government as sabotage as the station was only licensed to store 34,000 litres of kerosene.
He said Ajifun filling station was sealed for lifting 12 truck loads of kerosene within 12 days without discharging the content of any of the trucks at the station.
The station, he said, was licensed to store 33,000 litres of kerosene as against 406,000 litres it received within the period.
“The two stations remain sealed until they are able to produce the missing trucks of kerosene. It is only then that their suspension would be lifted.
“We will ensure that those products are dispensed to the public at the approved price of 50 per litre. Until that is done they remain under suspension,” he said.
Earlier, the Station Manager of the Sunma filling station, Mr John Akor, who did not deny the allegation, said the station only had bulk purchase and not bulk sale license.
He said the product was purchased from a private depot and not NNPC, adding that it embarked on bulk sale to assist other stations that were in need of the products.
Mr Suleiman Hammad, the station Manager of Ajfun, could not explain what happened to the missing 12 trucks, but directed the team to his boss, who he said, had gone to DPR office.
He said his boss would be in a better position to explain what the station was doing with kerosene when it did not have dispensing point for it.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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