News

Fuel Supply: Oil Marketers Set For Showdown With FG

Published

6 years ago

January 10, 2020

A confrontation that would trigger another round of fuel crisis is currently brewing between oil marketers and the Federal Government, as the marketers have given the government an ultimatum to fully deregulate the downstream sector of the country’s petroleum industry; put a motion in place to increase marketers margin from the sale of Premium Motor Spirit (PMS), also known as petrol or risk a collapse of the industry.
In an interview with newsmen in Abuja, spokesperson for one of oil marketing groups, who chose not be named, claimed that from the present arrangement in the fuel trading business, where the Nigerian National Petroleum Corporation (NNPC), was the sole importer of petrol, oil marketers are currently not making any profit from the sales of the commodity.
Increasing oil marketers’ take, listed as Trader’s Margin in the PMS pricing template would lead to an increase in the price of petrol if other variables were left constant in the template.
Also, deregulating the downstream petroleum industry would trigger a rise in fuel price, as the current template of the Petroleum Products Pricing Regulatory Agency (PPPRA), puts the expected open market of PMS at N179.50 per litre, meaning that the government is paying N34.50 as subsidy per litre of petrol.
However, when contacted on the impending showdown with marketers, spokesperson for the Nigerian National Petroleum Corporation (NNPC), Mr Samson Makoji, claimed he was in a meeting, and promised to provide the NNPC’s response on the issue at a later time. As at the time of going to press, he was yet to respond.
The spokesperson for the oil marketers further lamented that the newly introduced N50 Point of Sale, POS, charge newly introduced by the government was negatively affecting oil marketers and if not removed, would force many oil marketing companies to close shop.
The spokesperson disclosed that the country enjoyed uninterrupted fuel supply during the Christmas period because oil marketers agreed to work with the Federal Government in that regard.
He said, “Government appealed to us that we should do everything to ensure that there is fuel in December. Again, as I am talking to you, we have listed about three or four items that are still disturbing us.
“One, we are not making any profit, we want them to deregulate or increase our margin. It is either they increase our margin or they deregulate. Two, this N50 POS charge is a killer. No business will survive if it is allowed. Three, the bad roads are not helping us.
“If all these are not addressed; if something is not done, the system will collapse sooner than you think. We are talking to them through government, NNPC and the PPPRA, and hoping that individually, they are putting heads together to find the solution to it. There must be a solution to it, like yesterday.”
He added that the Federal Government was yet to fully liquidate its indebtedness to the oil marketers in the area of outstanding fuel subsidy claims, noting, however, that the government had issued the marketers three promissory notes, with the last of the notes to be cashed in by the first quarter of 2020.
He stated that the oil marketers are currently losing about 20 per cent of their claims due to the Federal Government’s style of liquidating the claims.
He disclosed that the oil marketers had decided to follow the path of dialogue in their engagements with the NNPC, a step it had been taking since the appointment of Mele Kyari, as the Group Managing Director of NNPC.
“We are still going to do that until we feel our patients can no longer bear it. If the system pushes all of us out of business, it is at their own peril. We have been talking to them and they seem to be listening to us, and it seems like they would do some of the things we requested,” the spokesperson noted.
Also speaking, Chief of Staff of the National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. James Tor, confirmed that the Federal Government was currently addressing the issue of backlog of fuel subsidy debts owed oil marketers.
He said, “Every effort is on by the Federal Government to pay the backlog of the fuel subsidy debts owed oil marketers. If you have an issue with somebody and the person has started a programme and a plan to address the issue, there is no need of making it an issue again. We are not making subsidy debts an issue again because the government has already arranged a programme for it”.
On the issue of uninterrupted fuel supply, Tor said, “We kept in line with the efforts of the President of the country, with his efforts and determination to addressing the challenges in the oil and gas sector.
“He has actually improved on all aspects of the industry, so we advised our members to work in tandem with President Buhari’s policy. We urged all our members to ensure that fuel distribution and supply was in line with Mr President’s efforts and they all kept to it.”

News

NELFUND Warns Students Against Fake Loan Portal

Published

2 days ago

November 19, 2025

The Tide

The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.

The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.

In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.

The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.

“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.

This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.

News

Eastern Port Police Boss Promises On Crime-Free Operations

Published

2 days ago

November 19, 2025

The Tide

The new Commissioner of Police Eastern, Ports Command, Mr Tijani Fatai has promised to ensure a crime- free ports operations in the zone.
He said effective policing will be mounted across the ports in the zone in tackling the high rate of community unrest, activities of port rats and other social vices.
Fatai while speaking to newsmen shortly after taking over as the 17th commissioner said he wants to be remembered as a peace maker during his tenure as Commissioner of Police in the Eastern Ports Command.
According to him,’’the community policing is the sure way of addressing most conflicts and other social vices bedeviling our society today and I will explore it to its fullest” .
The Commissioner also assured officers of the rank and file of improved welfare whoch he described as a cardinal objective of the present efforts of the Inspector General of Police (IGP).
He said,” the Inspector General of Police has sent me to assure you all of welfare, promotions as and when due,no officers particular rank and file will be left behind in the coming months.
Fatai before his recent posting was an operational officer,who spent most of his years with the Police Mobile Force (PMF) where he served as Unit Commander (UC) and Commander, PMF.
Before his redeployment as a Commissioner of Police,(CP), he was the Deputy Commissioner of Police, Operations, DCP, Operations, Lagos State Command.

News

Kalabaris Celebrate New Year Amid Fanfare

Published

2 days ago

November 19, 2025

The Tide

Thousands of Kalabari indigenes from Akuku- Toru, Asari-Toru, Degema and Port Harcourt City Local Government Areas last Sunday gathered at Elem Kalabari in Degema Local Government Area to celebrate what they said is the Kalabari new year amidst pomp and pageantry
According to stakeholders, the event which started over 200 years ago normally falls on the 16th of November every year.
The of this year’s celebration which was organised by Kalabari Renaissance Foundation was “Our Heritage, Honouring Our Waters and Renewing Our Spirit.”
Stakeholders said this year’s celebration was symbolic as it was holding at Elem Kalabari which is the home of the Kalabari people.
The event also featured various masquerade displays from cultural troupes within Kalabari and beyond.
Speaking on the significance of the event, the Amanyanabo of Elem Kalabari (The Source), HRH Mujahid Asari Dokubo, said the celebration signaled a return to the traditional values of the Kalabari people and the need for self-recreation.
“It’s not just about celebration, It’s about recreating ourselves, bringing us back from death.
“The organisation that has come to take over this celebration – Renaissance – really fits the description of what ought to happen to us as a people.
“It’s not just Kalabari; it’s about all of us and our values. We have to look at ourselves and our values,” he said.
Dokubo called on all Kalabari citizens to join hands together to revive their traditional values and heritage in order not to lose their cultural identity and spiritual trajectory.
Also speaking, Harry Awolayeofori MacMorrison, Chief Administrator and Chairman of Kalabari Renaissance Foundation, organizsers of the Kalabari new year festival, said the event marks the beginning of a new calendar year for the Kalabari people, after November 15 of every year when the tide cleanses the pollution from the Sombreiro River inflows, describing it as a renewal of the Kalabari people.
“It’s the renewal of the people. Kalabari area is saline environment and at a time, the Sombreiro River comes in and pollutes the river.
“On the 15th November, across Kalabari, the tide turns and takes all the fresh water that polluted the saline river back to the Sombreiro River
. “On the 15th is the end of the year. Normally when there is an end, there is a new beginning. On the 16th (November) is the beginning of the Kalabari calendar,” he said.
Awolayeofori Mac Morrison said the Kalabari communities had been holding the new year festival separately in the past until the Renaissance Foundation decided to champion a unified celebration to enable them forge a common front of trado-cultural and socio-economic development across the entire territory.
He said last year’s event held at Abalama while they decided to bring this year’s celebration to Elem Kalabari because of it significance to the Kalabari nation.
Also speaking, a member of the planning committee and media lead, Journalist Ibiba Don Pedro, said there was need to reawaken the consciousness of their people on the need to embrace their traditional values without reservations, noting that there was nothing fetish about the festival.
She said the celebration was to unite the Kalabaris as well as project the cultural heritage of the people.
Don Pedro said time has come for Africa to go back to their root , adding that development will continue to elude African countries until the people rediscover themselves.