.jpeg)
TEXT OF A PRESS CONFERENCE BY GOVERNOR BABAJIDE SANWO-OLU ON THE FUEL SHORTAGE AND CURRENCY CRISIS.
My dear Lagosians, I have found it necessary to address you today, following some events in our dear country. The currency exchange and the fuel situation have, no doubt, raised tension in the land. First, is to thank you, dear Lagosians, for your patience and understanding in the face of the hardship that you have experienced in recent days. Your resilience has been remarkable. On behalf of the Executive Council, I thank you most sincerely for standing firm and demonstrating your confidence in our ability to protect your interest in these di…
FUEL QUEUES IN ABUJA AND LAGOS TO DISAPPEAR BY THE WEEKEND AS NNPC INTERVENES.
Whistler has intervened by providing marketers relief through affordable diesel. This is expected to cushion the negative impact of the challenges and ensure the supply of petrol into Lagos and Abuja. Findings also revealed that the NNPC has also extracted commitments for increased supplies into Abuja and Lagos, which would ease the queues within the next few days. The NNPC’s Executive Vice President, Downstream, Mister Adeyemi Adetunju, while speaking on the recent fuel queues at a news conference in Abuja on Tuesday, said “The recent queues …
FUEL CRISIS MAY LINGER TILL CHRISTMAS - IPMAN.
PMS popularly called petrol is usually on the rise during the Yuletide. He said people engage in a lot of intra and inter-state travels during this period, saying any slight hiccup in supply will lead to fuel scarcity. Adigun added that the shortage of daughter vessels was adversely affecting the turnaround time of petrol evacuation. Adigun explained that due to the shortage of the daughter vessels, it takes about one week for such a vessel to make a trip, thus compounding the challenges around petroleum distribution and evacuation. The IPMAN …
COMMUTERS GROAN AS FUEL SCARCITY BITES HARDER.
Recall that the Executive Secretary of Depots and Petroleum Marketers Association of Nigeria (DAPPMAN), Mr.Olufemi Adewole, on Monday warned that the implementation of 0.5 percent tax on a gross turnover by petroleum marketing companies as captured in the Finance Act 2020 will ruin investments. The DAPPMAN heightened fears that by the end of this year, oil marketers may begin to fold up or will have to borrow to pay taxes. "By the end of this year, the Finance Act 2020 mandates that petroleum marketing companies must begin to pay 0.5 perc…
MOTORISTS DECRY LINGERING FUEL SCARCITY AND WANT THE FEDERAL GOVERNMENT'S INTERVENTION.
Many motorists in the Federal Capital Territory (FCT) have decried the lingering fuel scarcity being witnessed in the territory and environs. The motorists, who spoke to the News Agency of Nigeria (NAN) on Monday in Abuja, said that the situation which had lingered for more than four weeks was causing hardship. A NAN Correspondent, who monitored the situation, reports that many fuelling stations were not selling the product, while the few stations selling had long queues. NAN also reports that the scarcity is biting hard as many commuters are …
FUEL SCARCITY GROUNDS LAGOS, OGUN, AND ABUJA, CUMMUTERS STRANDED.
“We are equally calling on the management of the NNPC and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to investigate the arbitrary increase in fuel price by the private depot owners,” he added. The Executive Secretary, of the Depot and Petroleum Products Marketers Association of Nigeria, Olufemi Adewole, did not answer calls. NMDPRA warns Nigerians against panic buying. Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority appealed to Nigerians not to engage in panic buying of petrol, saying i…
.jpeg)
FUEL SCARCITY: FIREWORKS OVER N74 BILLION BRIDGING CLAIMS PAYMENT.
The current fuel scarcity being experienced in parts of the country may get messier in the coming weeks as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has described as false the claims by the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) that it paid about N74 billion in bridging claims to oil marketers. NMDPRA had in a statement released last Wednesday by its General Manager, Corporate Communications, Kimchi Apollo, announced the payment of about N74 billion to oil marketers as bridging claims fo…
AS FUEL SCARCITY BITES HARDER, NIGERIAN GOVERNMENT ASSURES OF SUPPLY.
Nigerians faced yet another day of fuel scarcity Wednesday as the authorities said they were working multiple options in a bid to resolve a substandard fuel problem that has seen national reserves coverage down by 10 days. Millions of Nigerians were this week thrown into chaos amid scarcity of fuel in petroleum outlets across the country. The Nigerian Midstream and Downstream Petroleum Regulatory Authority earlier in the week said it found gasoline with methanol above national specifications in the supply chain and removed the fuel from circul…
