Business
DPR Shuts 11 Petrol Outlets, Two Gas Plants In Delta
The Warri Zonal Office of the Department of Petroleum Resources (DPR) has sanctioned 11 petrol stations and two gas plants in Delta in two separate operations.
The erring petrol and gas stations were sealed in Warri and Asaba in the last one week.
Manager, Downstream of the DPR, Mr Nicholas Ogbe, told newsmen in Warri yesterday that the erring stations were shut over offences bordering on under-dispensing and operating without business names and valid licenses
The affected stations were:Total, Asholyn, Forte Oil, Mobil, Yins Petroleum, Pagson Limited, Esiton Oil, Vwede Oil, Hemson Gas plant and Esegbe Gas plant in the Warri axis.
Others were: Alpha Bykeez Limited and Dwell Pet both situated along the Okpanaun Road in Asaba.
Ogbe The Tide learnt, had led a team of the regulatory agency on surveillance in the Warri axis where nine filling stations and two gas plants were sealed.
Similarly Manager, Upstream of the DPR, , Mr Bright Ogbeni, had led the team to Asaba for a similar exercise and two erring petrol outlets were shut after inspecting several filling stations and gas plants amid heavy downpour.
Ogbe, who spoke on behalf of the Operations Controller, Warri Zonal office of the DPR, Mr Antai Asuquo, said the surveillance was to ascertain the marketers’ level of compliance with the agency’s rules of operation.
According to him, there are rules guiding the establishment and sales of petroleum and gas products.
He added that one of the statutory functions of the DPR was to monitor and regulate petroleum products, storage and sales.
“To operate gas plant and filling stations, you are expected to have a license, renew it when it has expired, if you don’t have, you need to come to DPR and get a license.
“You also need to have fire extinguisher, and train your staff. You cannot bring somebody to come and monitor the sales of gas without training the staff.
“If you train your staff, they will be able to dispense product, be it gas filling stations or petroleum filling stations,” he said.
Asuquo, who expressed joy at the level of compliance, said that the surveillance would be a continuous one so that consumers would always get value for their money.
“As required, we usually come out routinely to stations dispensing Premium Motor Spirit (PMS) to ensure they are dispensing the right quantities to the public.
“We go out on routine inspection, not only when there is fuel scarcity, to ensure the right quality and quantity of product is being delivered to the public at a good metre factor.
“We do this so that consumers can get value for their money.
“When you dispense PMS above the metre factor that is stipulated by the Federal Government, you are expected to pay a fine to the government.
“We do the surveillance weekly or bi-weekly. We do random check without notification because when the marketers know that we are not on the field, they readjust their dispensing pumps, ” he said.
The operations controller, who hailed the level of compliance, however, advised the marketers to follow proper channels while setting up gas or petrol stations.
He warned the defaulters that it was a criminal offence to remove the seal and dispense products without paying the necessary dues to the government.
“Before setting up a gas or filling station, you have to come to the DPR office for a license.
“There are processes, DPR officials will come for feasibility studies and others, if you meet the requirements, you will be issued a license,” he said.
Asuquo advised marketers to adhere strictly to the rules of the regulatory agency by acquiring valid licenses, renew it when necessary and dispense products at the right volume to the public.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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