Business
Oil Marketers Begin Importation For Second Quarter
The 42 oil marketers licensed to import fuel for the second quarter of the year have begun importation of the product, an official of the Petroleum Products Pricing Regulatory Agency (PPPRA) said.
The official, who pleaded anonymity, told our correspondent in Abuja on Thursday that the marketers, who were issued licences in March, had started importing products to avoid scarcity.
“The marketers have started importing fuel for the second quarter and this will ensure there is no scarcity of the product in the country,’’ he said.
It would be recalled that 42 oil marketers were granted licence in March by the PPPRA to import 4.8 billion litres of petrol for the second quarter of the year.
The official said the agency had put stringent measures in place that would ensure that marketers were transparent and followed due process in the importation.
He said one of the measures was reinforcing the independent inspectors at the ports and ensuring that all imports were accompanied with letters of credit.
The official said holders of the permit would also be required to furnish PPPRA with daily records of products loading, evacuation from designated depots for accountability and effective supply.
He warned that it was no longer business as usual as the agency was ready to sanction any marketer who failed to deliver the approved volume of product.
He added that the agency would soon hold its quarterly meeting with marketers and other stakeholders in the sector to fine-tune any grey areas.
“We will soon hold our quarterly meeting to fine-tune all these details. I will be able to give you details of the process after the meeting,” the official said.
He expressed optimism that all the measures would ensure better accountability and transparency in the importation process.
Earlier, the Executive Secretary of PPPRA, Mr. Reginald Stanley, said that the agency sanctioned a Switzerland oil trading company, NIMEX Petroleum Ltd, for failing to show details of its operations.
Stanley said the list of oil marketers was pruned to 42 in a bid to ensure efficiency, accountability and transparency in the sector.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime3 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime3 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime3 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime3 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime3 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics3 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports3 days ago
Bournemouth, Newcastle Share Points
-
Sports3 days ago
Zidane’s Son Switches Allegiance To Algeria