PPPRA Goes Tough On Fourth Quarter Allocation

The Petroleum Products Pricing Regulatory Agency (PPPRA) has
vowed to continue to enforce its stringent regulations for the fourth quarter
fuel importation into the country.

A top official of the agency, who pleaded anonymity, said this
in an interview in Abuja, noting that the fourth quarter allocation would soon
be announced.

He said the Agency had concluded plans to release the names
of marketers granted import licences for the fourth quarter.

“We will soon announce the names of successful marketers for
the fourth quarter after the rigorous process.

“Over 30 marketers have been shortlisted for the third
quarter but I cannot give you details for now,’’ he said.

He insisted that the quarterly allocation was based on
companies’ previous performance, competence and evidence of ownership of
functional depots/jetties, among others.

He said holders of the permit would also be required to
furnish PPPRA with daily records of products loading, evacuation from
designated depots to ensure accountability and warned that the agency would not
hesitate to sanction any infractions.

He said the agency was committed to working with relevant
government bodies and stakeholders to ensure adequate supply of the product.

He stressed the PPPRA’s resolve to continue to engender
transparency and accountability in line with international best practice.

It will be recalled that Mr Reginald Stanley, Executive
Secretary of the PPPRA had, upon assumption of duty in late 2011, slashed the
number of marketers from over 120 in 2011 to 42 for the first and second
quarters of 2012 and 39 companies for the third quarter of the year.

The 42 oil marketers granted licences in the first quarter
of the year were mandated to import a total of 3.755 million tonnes of petrol,
which is equivalent to 5.036 billion litres.

It, however, reduced the volume in the second quarter to
3.575 million tonnes or equivalent of 4.794 billion litres, reflecting a drop
of 180,000 metric tonnes or 241.38 million litres

In the third quarter, 39 oil marketers were issued permit to
import 3.125 million metric tonnes of fuel, an equivalent of 4.20 billion
litres, which is a drop from the 4.794 billion litres imported in the second
quarter.

Stanley said the reduction in the number of companies
participating in the fuel importation was to ensure better transparency and
check shady deals in the nation’s fuel import scheme.

Investigations, however, reveal that most of the marketers
refused to import fuel in the previous quarters of this year due to what they termed
non-payment of subsidy claims.

The trend led to a drop in the import process and
consequently triggered fuel scarcity in most parts of the country and a hike in
the pump price of the product in some areas.