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Another Fuel Scarcity Imminent …As Marketers’ Bill Hits $1.7bn
The country may be plunged into another round of excruciating fuel scarcity in the next couple of weeks as oil marketers disclosed that they are running out of patience over the Federal Government’s refusal to pay its $1.7 billion debt owed them since May 2015.
One of the oil marketers, who spoke to newsmen in Abuja, under condition anonymity, yesterday, disclosed that the seeming sanity in petroleum products distribution and sales across the country can be likened to the “peace of the graveyard,’ as he noted that marketers were only ensuring that they were not seen as individuals seeking to sabotage the efforts of government.
He stated that the marketers had written series of letters over their predicaments to the Presidency and that the Presidency had agreed to grant them audience, while he warned, however, that if nothing is done to address the issue of the debts owed them, they would be forced to take drastic measures that might lead to the return of another fuel crisis.
The source explained that the amount owed the marketers was for foreign exchange differentials owed both major oil marketers, independent oil marketers and other petroleum marketers.
He said the amount was the balance from the payments made by the Goodluck Jonathan administration, before handing over to President Muhammadu Buhari, while the rest was incurred in May 2016, when the Federal Government devalued the naira.
According to the source, major oil marketers are owed about $500million, while independents, depot and petroleum products marketers were owed about $1.2billion.
The source also confirmed that some of the oil marketers are indebted to the government, stating, however, that their indebtedness pales in comparison to the huge debt the Federal Government owes the oil marketers.
He further stated that the oil marketers’ indebtedness to the country was more recent, while the Federal Government’s debts dated back to May, 2015.
“Irrespective of the fact that our own debt is recent, very small and insignificant, compared to the amount the Federal Government owes us, the government is asking us to pay, while nothing is said about their own debt which is huge and dates back to 2015,” he said.
He noted that as a result of the huge debts, majority of the oil marketers had sacked a large number of their staff, as many of them are finding it extremely difficult to pay staff salaries and even sustain their operations, as a result of the unfavourable operating environment.
He added that the oil marketers are currently at loggerheads with a subsidiary of the NNPC, the Pipeline and Products Marketing Company (PPMC), over the introduction of obnoxious rules that are detrimental to existing contractual obligations, without proper consultations with oil marketers and other stakeholders.
He also disclosed that majority of the oil marketers had since stopped the importation of Premium Motor Spirit (PMS), also known as petrol, while he confirmed that the NNPC is currently the major importer and has enough stocks of the commodity on ground to guarantee several months of supply.
However, he said, “While I can tell you that the NNPC has adequate quantity of the product to last the country for months, we the oil marketers have agreed that we cannot continue to allow the NNPC to supply its products to Nigerians through our facilities, both depots and retail outlets, while nothing is done to address the debts owed us.
“We might be forced to stop the NNPC from using our facilities; then let us see how the NNPC can supply its millions of litres of PMS to the public. It is a known fact that the NNPC cannot supply its products to the public without using the facilities of oil marketers”, he added.
Confirming the development, the NNPC, in its latest Monthly Financial and Operational Report for September, 2016, released recently, disclosed that as regards downstream sector, NNPC remains the major importer of petroleum sector.
This, according to the NNPC, was despite the liberalized price regime due to inaccessibility of foreign exchange (FOREX).
However, it stated that the “FOREX intervention by the international oil companies (IOCs) cushions the effect.
Similarly, the ongoing Turn Around Maintenance (TAM) is promising to entirely change the anaemic outlook of the country’s refineries.
Rivers State Governor, Sir Siminalayi Fubara, has said that peace has prevailed because he draws strength from God to resist insults and tantrums thrown at him while frustrating attempts by some disgruntled persons who wanted to plunge the State into unending crisis.
The Governor also said that because he has anchored his Government on promoting peace, the enabling atmosphere has been provided for investments and sustainable development to flourish.
Governor Fubara made the assertion when he received a delegation of members of the Bishops and Gospel Ministers’ Association International Incorporated, Rivers State Chapter, at Government House in Port Harcourt, yesterday.
Represented by the Head of Rivers State Civil Service, Dr George Nwaeke, Governor Fubara said while most people took his meekness for weakness, his stance on peace has unarguably enhanced harmonious atmosphere of concord as residents sleep with their two eyes closed, and investors and shareholders are happy with the returns on investment.
He said, “Before, what they hear of Rivers State is that they are fighting, and some genuine investors will not come. Some people even ask you: How are you coping in Rivers State?
“But now”, he asserted: “The Governor has brought about a lot of changes in the State. One of the most important things is that he has changed the negative narrative. It is no longer Rivers of blood. It is now Rivers of peace.
“We are enjoying our lives here. Why? Because there is a change in the narrative. We have peace. The Governor is, as much as possible, absorbing any level of insult at him only for one purpose: that Rivers State may have peace; that we may grow; that this state will experience genuine development.”
Governor Fubara urged them, as members of the Christian family in the State, to continue to pray for the State and the Government so that the enemies of the State will be put to greater shame.
“This peace is what I want you to embrace. Go and continue to pray, because when the sower of the seed went and sowed, the enemy went in the night and sowed tares inside there. But the Governor is sowing peace.
“When I listened to the leader of the team, His Grace Eddy Ogbonda, he said you came all the way from Eleme Junction, and stopped at major junctions, and you uttered prayers for the peace of Rivers State.”
He also said: “I, hereby want to thank you for identifying with the Governor at a time like this. At a time when it looks as if someone wants the Governor’s peace posture misunderstood as weakness.
“When someone has the strength to fight back, but refuses to fight back. That is a bigger strength; that power of restrain does not just come, it can only come from God.
“You cannot give peace, if you do not have peace within you. The Governor is not interested in any form of trouble or violence. What he is interested in is known, and it is: let there be peace in Rivers State,” he said.
In his address, leader of the group, Archbishop Eddy Ogbonda, said they had observed a week-long intensive prayers that culminated into a peace rally, which brought them to Government House, and assured the Governor that God will continue to give him victory over his adversaries while preserving Rivers State.
“It is Rivers State Prophetic Prayer Convocation and Rally 2024 with the theme: ‘Peace be still’. Of a truth, everyone of us understands that we live in a time when we need peace much more than any other thing.
“Rivers State needs peace. Everyone as individuals need peace. The country needs peace, and the world at large needs peace. So, we are here to do a peace march. We pray that God will command His peace to reign in Rivers State,” he said.
The Economic and Financial Crimes Commission (EFCC) has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest.
The Chairman of EFCC, Ola Olukoyede, said this in the agency’s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved in the dollarisation of the economy.
According to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
He said charging local activities and customers in dollars is against Nigeria’s constitution.
The EFCC chairman said, “Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area.
“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not? You will get that.
“But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also affected some arrests.”
Rivers State Governor, Sir Siminalayi Fubara, has enjoined Muslim faithful to remain steadfast to the lessons learnt during the holy month of Ramadan.
Governor Fubara stated this in his message of felicitations to Muslims as they celebrate the 2024 Eid-el-Fitr Sallah, which marks the end of the one-month Ramadan fasting.
The Governor emphasised the importance for Muslims to also uphold the tenets of Islam by exhibiting the fear of God and showing piety in their daily work.
Governor Fubara said, “We must all continue in the good attributes imbibed during the holy month of Ramadan as directed by God through His Prophet, so as to ensure peace, unity and harmony in the society for a better future.”
While praying that the essence of the festival offers them happiness, peace and prosperity in all aspects of life, Governor Fubara said he recognises and appreciates the critical role that the Muslim community continues to play in the development of Rivers State, and indeed, Nigeria at large.
Governor Fubara charged them to remain unwavering and steadfast in their commitment and positive contributions to advance the development of the State and the country.
“I enjoin you all in the State to remain calm, be patient and continue to do what is right,” the Governor added.
He wished the Muslim faithful in the State and across the country a happy Eid-el-Fitr celebration.
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