Business
COVID-19: NNPC Hails Tanker Drivers For Hitch-Free Supply

The Nigerian National Petroleum Corporation (NNPC) has lauded the Petroleum Tanker Drivers (PTD) group for their sacrifice in supplying petroleum products across the country.
The corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru said the tanker drivers’ selfless service during the lockdown ensured smooth distribution of petroleum products during the restriction period.
Quoting the Managing Director of NNPC Retail Limited, Sir Billy Okoye he said NNPC Retail Limited’s filling stations, numbering more than 600 across the country, would remain operational throughout the period of the lockdown to meet the energy needs of Nigerians.
Okoye stated that all NNPC Retail outlets had sufficient petroleum products, ready to serve the public, adding that the company’s outlets were stocked with sufficient products, with PPMC depots storing more products in various states.
He explained that NNPC Retail Ltd’s products were daily being trucked to stations strategically located across Nigeria, urging consumers not to engage in panic buying.
“Our major responsibility is to ensure that there is fuel supply in our stations. We have enough products at all our storage tanks and at our depots; we also have a large quantity of products in transit to our stations. Nigerians don’t need to panic,” Okoye said.
The NNPC Retail’s helmsman thanked the various state governors for allowing petroleum tankers to traverse their states despite the movement restriction order and commended the security agencies, PTD, the Nigerian Association of Road Transport Owners, National Union of Petroleum and Natural Gas Workers and all other service providers in the downstream value chain for their support.
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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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