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.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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