We Can No Longer Import, Sell Fuel At N145/Litre — Marketers

Reports are rife that private oil marketers are calling for government intervention to enable them to access foreign exchange at a special rate for the importation of Premium Motor Spirit (petrol).

Private marketers who stopped fuel importation last year due to shortage of foreign exchange and increase in crude prices, said had made the current forex rates makes it unprofitable to import petrol and sell same at N145 per litre.

The Punch reports that “The National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr. Mike Osatuyi, said, “The problem is that the importation (of petrol) is being handled almost 100 per cent by the Nigerian National Petroleum Corporation as private importers have backed out because the increase in crude price has made the landing cost enter subsidy.

“When the crude price hit $59 per barrel, we could not sell petrol again at N145 per litre if we were importing on our own. It is only the government (NNPC) that is importing and can warehouse the subsidy.

“Right now, the landing cost of the PMS is N154. If you are importing at N305 to the dollar, by the time you add bank charges, it comes to N307 to the dollar. If you apply that to the current crude price, the landing cost is N154-N155. By the time you add all the margins, the pump price is about N160-N167.

“Before private importers can resume importation, the exchange rate to a dollar must be N250 and we can sell at the price of N145 per litre.

“Landing cost of the PMS today has increased. By the time we land the product based on the international crude oil prices, petrol should be selling for between N165 and N170 per litre. But government is saying we should sell at N145. So, if there is no subsidy, we have to depend on the NNPC to give us the product,” he said.

Osun Residents Lament High Transport Fare As Fuel Scarcity Bites Harder

By Nofisat Adeoye

Residents of the State of Osun have lamented the recent fuel scarcity and especially its effect on transportation fare.

Although, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its nationwide strike, many filling stations still remained closed due to fuel scarcity.

Like in Lagos State, Abuja and other states of the country, Osun State is also not left out of the ordeal. The queues in filling stations have continued to increase as stations continue to close up too.

While many have abandoned their cars at home and took to public transit because they could not get fuel, others are also lamenting the increase in transport fare.

Though many are of the opinion that some filling stations are actually hoarding fuel and increasing its price because of the festive period.

In an interview with Osun Defender, Aminat Nasiru explained how she had to wait for almost one hour at the park before getting a bus.

“It is like all the buses have been taken out of town. I had to wait and wait and when I eventually got one, he charged me double for my destination but what could I do. I can’t even blame the drivers, buying a litre of fuel at N200 from N145 is enough reason and the fuel is even scarce.

“I seriously hope the Federal Government do something urgent about this especially since we are in the festive period. The fuel scarcity is really taking its toll on us here.”

Another resident, Ajiboye Tunmise explained that, “It is a pity that we find ourselves in this situation again, it has become our usual habit that whenever we are in the festive period, we experienced fuel scarcity.

“The fuel scarcity is no doubt affecting us negatively, especially people who would want to travel to celebrate with their families, there is already hike in transport fares, the commuters are being made to pay exorbitantly.”

Fuel Scarcity: NNPC Has Doubled Supply Across The Country – Baru

In a bit to arrest the biting fuel supply across the country, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has reassured Nigerians of the Corporation’s commitment to end the scarcity.

Baru stated that the corporation has doubled the daily supply of Premium Motor Spirit (PMS), otherwise called petrol, from daily 700 trucks (about 27million – 30million) litres per day supply to 80million litres per day since the current hiccup in the supply chain was noticed a few days back.

Dr. Baru, disclosed this shortly before the signing ceremony of a memorandum of Understanding (MoU) between the Corporation and the Benue State Government on the Agasha-Guma Bio-fuels Projects, in Abuja, on Thursday.

The GMD attributed the hiccups in the supply of PMS to rumours about purported planned increase in the price of petrol.

He stated that some marketers, in their quest to cash in on the situation, suddenly started hoarding products.

“But we swiftly swung into action by doubling our supply nationwide. At the time the rumour started, we had about 30 day sufficiency. The normal daily supply to the nation is 700 trucks, equaling about 27-30m litres per day.

He further informed Nigerians that the NNPC has enough products sufficiency that will last up to 30 days.
Dr. Baru said that at least a billion litre petrol laden cargoes were heading to Nigeria shores at the end of December which he noted would return the Country to a 30-day-plus sufficiency.

Dr. Baru, who expressed joy at PENGASSAN’s call-off of its planned strike, called on motorists not to engage in panic buying as the Corporation has more than enough products for domestic consumption.

Assuring that the fuel situation would soon fizzle out this week, Baru also warned marketers against hoarding, stressing that any filling station found wanting in this regard would lose its entire products to motorists.

He commended NNPC’s sister agencies, the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA), for their support in helping NNPC tackle the menace of hoarding by filling stations.

2019: Crisis Looms In PDP Over Vice Presidential Ticket And Other Newspaper Headlines Today

According to Independent, interest groups within the People’s Democratic Party(PDP) are set to engage each other in an open war for the control of the party as the race for 2019 presidential election get underway. A competent source within the party told INDEPENDENT at the weekend that some power brokers within the party who seemed united towards the convention held last weekend have since commenced underground moves to outwit one another in battle for the control of the party.

Meanwhile the The Nation reports that Nigeria plans to lend its neighbours a hand in the anti-Boko Haram war, with its headline reading; $1b Anti-Boko Haramm Battle Plan Sparks Row. The Federal Government requested for $1billion from the Excess Crude Account (ECA) to bolster the military’s capacity to assist neighbouring countries, Defence Minister Gen. Mansur Dan-Ali said.

The Punch moves to the oil sector to report that Fuel Queues Reappear In Lagos, Persist In Abuja, Others. The lingering petrol scarcity in many parts of the country grew worse on Sunday in Lagos, Abuja, Nasarawa, Kaduna and Niger states as many filing stations were shut. The closure of the filling stations followed threats by members of the Petrolum and Natural Gas Senior Staff Association of Nigeria to embark on a nationwide strike from today (Monday).

Presidency, Nass May Clash Over $1bn ECA Approval tops the stories for Nigerian Tribune. According to their reports, a fresh crisis is now looming between the executive and the legislature over the planned $1 billion withdrawal from the Excess Crude Account (ECA) to fight the Boko Haram war as both chambers of the National Assembly resumes plenary today. It was gathered on Sunday that plan had been concluded for a showdown in the House of Representatives with the Presidency over the deduction from the ECA which they claimed was illegal and unconstitutional.

The Vanguard newspaper has also revealed that UK Court Orders Return Of $85m Malabu Oil Loot. After many years of legal fireworks, the United Kingdom has given the final clearance for Nigeria to draw down a whopping $85 million seized from entities embroiled in the controversial Malabu Oil Scam. This was confirmed by the Attorney General of The Federation and Minister of Justice, Abubakar Malami, SAN, saying the money was not yet in the coffers of Nigeria but would soon be repatriated.

Daily Sun draws the curtain today on headlines, giving an exclusive interview as Governors, Others Felicitate With President at 75.




Osun NSCDC Bursts Filling Stations Hoarding Fuel

By Nofisat Adeoye

Personnel of the Nigeria Security and Civil Defence Corps, NSCDC, Osun State Command has bursted some filling stations hoarding petrol and selling above the normal pump price.

While raiding the filling stations in Boripe, Ifelodun and Ilesa West and East Local Government Areas of the state, the Anti-vandal squad swooped on some stations selling at N150 or N160 respectively.

During the operation at Boripe and Ifelodun LGs, the NSCDC officials arrested one Abdul-lateef Okunlola in Ikirun and one Lukman Jimoh was apprehended in Iragbiji for refusing to sell the product by employing delay tactics.

“On interrogation, he told the Corps that he has been ordered by his boss not to sell. On further interrogation of the boss, he (boss) mentioned that he gave the instruction because he has no trust in the manager.

“The Corps in Osun State is determined to ensure and prevent petroleum marketers from taking undue advantage of the public especially during this Yuletide season.

“Economic sabotage will not be tolerated from any person or group of individuals. NSCDC therefore, appeal for collaboration and cooperation to stem out this unpatriotic act.

“Along Ilesa axis, fifteen (15) stations were visited among which were, Seahawks International Ltd, Babsak Energy Solution Ltd and Dohadson Global Investment Ltd. The Corps is determined to bring erring marketers to book to serve as deterrent to others.” a release signed by corps public relation officer, Babawale Afolabi NSCDC reads in part.

Meanwhile, members of the public have applauded the action of the Corps. They revealed that the filling stations have been selling above Government price.

NNPC Discovers 144 Trucks Of Hoarded Petrol

A monitoring team comprising of security agents and officials of the Nigerian National Petroleum Corporation (NNPC) have discovered 144 trucks of petrol not streamed by some marketers in Kano.

The NNPC Group General Manager, Public Affairs Division, Ndu Ughamadu, made this known in a statement in Abuja on Friday.

Ughamadu said “Sequel to the discovery, resurfaced trucks have been sent to discharge their products at designated locations.

”Of the 144 trucks discovered, 26 were for Katsina, while 118 trucks were to discharge their products in Kano and its environs.

”NNPC warns marketers across the country to desist from acts that may heighten supply gaps noticeable in some remaining parts of the country.

“Security agencies have been detailed to go on the trail of any marketer who may be hoarding products.”

NLC President Responds To Ongoing Scarcity

The NLC President, Ayuba Wabba, in response to the ongoing fuel scarcity, said yesterday in Abuja that the various excuses given by government, as reasons for the fuel scarcity are not acceptable.

He said: “The NLC considers this scarcity as an act of cruelty and sabotage from which a few privileged are benefitting. The timing of this artificial scarcity is not lost on us, as it is intended to maximise pain and profit, since it is a well-known fact that the Christmas season witnesses the biggest movement of people, goods and services.”

Ayuba reiterated that the congress equally considers the scarcity as an insult to the collective pride of all good Nigerians. Also, NLC General Secretary, Dr Peter Ozo-Eson, said that the confusion in the downstream sub-sector of the Nigerian oil and gas sector was established when the price modulation based on petroleum products import regime was introduced.

“Nigerians will be bear us witness that we canvassed against the introduction of price modulation; we said it was going to fail. Our argument then was that there was no way a price modulation regime can work in an environment that is import dependent. It would be recalled that the NLC staged protests against the move, but we were ignored. Today, we are back to the same turf. The scarcity we are witnessing now is not new. It started two years ago technically.”

The Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), Abdukadir Umar, said there are no plans to increase fuel price.

“We want to use this medium to assure all Nigerians that there is no need for apprehension or panic buying. We are confident that the NNPC, being a major supplier of petroleum products into the system and the supplier of last resort, can ensure uninterrupted supply of petroleum products into the market and the corporation has given assurances in that regard.”

Persisting Fuel Scarcity, PDP National Chairmanship, Southwest Integration and Other Newspaper Headlines Today

The annual ritual of persisting fuel scarcity in the year end is back again but with twists and turns from stakeholders across the country with the Federal Government giving a marching order to the Minister of Petroleum Resources, Ibe Kachikwu to end the rising issue by weekend. Here are how some National Dailies captioned it today;

Starting with the Nigerian Tribune with the Headline, FEC to Kachikwu: End fuel scarcity this week with council ordering both the Minister of State for Petroleum Resources, Dr Ibe Kachikwu and the Group
Managing Director of the Nigerian National Petroleum Corporation NNPC, Dr Maikanti Baru to end fuel scarcity by this weekend.

The Guardian reports the story with the headline; FG blames fuel scarcity on external demand with the government blaming the situation on increased demand by nations in temperate regions.

Away from Fuel matters, The Independent has it that EFCC Plans to Pick Four Chair Aspirants at PDP Convention writing that the party is seriously worried that the planned arrest is being planned by the anti-graft agency to take place at Eagle Square on Saturday.

Daily Sun also has an headline on the PDP with the caption; PDP Chair: North dumps Southwest with the riders Uche Secondus is top runner as Ladoja looks good for deputy chairman, Makarfi, Okowa, others meet IBB in Minna.

Still on Politics, Vanguard leads with Why I’ll Win Again In 2019 – Buhari. Moved by the outpouring of affection from the people of Kano State at the beginning of a two-day official visit, President Muhammadu Buhari, yesterday vowed to overwhelm any opposition to his undeclared 2019 re-election prospects.

Finally from The Nation Newspaper comes a double banner headline of Southwest States United On Constitution Amendment as Governors Abiola Ajimobi (Oyo), Akinwumi Ambode (Lagos), Rauf Aregbesola (Osun), Rotimi Akeredolu (Ondo) and Ayodele Fayose (Ekiti) met in Ibadan to ratify their common stance on all issues billed for amendment.

Fuel Scarcity: Senate To Undertake Nationwide Inspection Of Filling Stations, Summons NNPC GMD


The Senate Committee on Petroleum Downstream says plans have been concluded for it to conduct nationwide inspection of filling stations over recent fears of fuel scarcity in the country.

Committee Chairman, Senator Kabiru Marafa stated this at a news briefing shortly after an investigative hearing on the matter on Tuesday in Abuja.

Marafa said the Senate would not watch some unpatriotic persons put Nigerians through any form of hardship, particularly during the Yuletide.

He noted that although the Senate had adjourned to commence budget defence, members of the committee would take time out to embark on the oversight.

According to him, the committee members would be regrouped into sub-committees to make it possible to visit all the states.

“First things first, this season a lot of Nigerians will be travelling to reunite with their love ones.

“We will take time out to embark on a serious oversight. We will break into sub-committees to be able to cover the entire country.

“We have already mandated the Nigeria National Petroleum Corporation (NNPC) to furnish us with the daily distribution list.

“This is to enable the sub-committees to be armed with detailed evidence of which filling station was given what quantity of fuel.

“We will also get these details from the filling stations to ascertain when last they got supplies and the quantity sold.

“We will not stop at that. We will also inspect tanks in filling stations to ensure that Nigerians are not taken advantage of,’’ he said.

Meanwhile, the committee has summoned NNPC Group Managing Director, Maikanti Baru to appear before it on Thursday, having failed to appear on Tuesday.

“Immediately the issue came up, we contacted NNPC to know the situation of things and we were told that the rumours were unfounded and that they have written rejoinders to that effect.

“However, given the seriousness of the matter, we decided to invite the GMD to come and brief us on the development and to enable Nigerians know the situation of things.

“Unfortunately, he wrote informing us of his inability to honour the invitation.

“We hope he will be back by Thursday to tell Nigerians the true situation. Even if he cannot make it, he can send people that are in good authority to speak on his behalf.

“There is an Executive Director in charge of Downstream who oversees the downstream generally. There is also the Managing Director of Petroleum and Product Marketing Company.

“So, whatever it is by next tomorrow (Thursday) we will be able to tell Nigerians what the situation is like and what the Senate is going to do in the event of any eventuality,’’ he said.

He warned filling stations in the habit of hoarding fuel to inflict untold pains on Nigerians to desist as it would not be business as usual.

He assured that the Senate would work with relevant agencies of government to punish any filling station found wanting.

Looming Fuel Scarcity and Other Newspaper Headlines Today

Away from the #EndSARS and Atiku Issues, Nigerians woke up on Wednesday with the news of the looming fuel scarcity in the country as national dailies caption it in different ways.

The PUNCH captions it; Consumers Groan In Lagos, Abuja as fuel scarcity worsens with the rider, Senators to inspect filling stations, summon NNPC boss as reports have it that many of the private depots in Apapa, Lagos, where many marketers get petroleum products from for distribution to other states, did not have PMS while those who had were doing “skeletal loading.”

It is however cast on The NIGERIAN TRIBUNE with the story reading IPMAN blames NNPC, accuses it of favouring DAPPMA- As long queues resurfaced in the country on Tuesday, marketers have blamed the Nigerian National Petroleum Corporation (NNPC) for the situation.
The GUARDIAN also reports the fuel scarcity story as Stop Panic Buying, NNPC tells Nigerians as queues persist with the NNPC urging fuel consumers across the country to desist from panic buying, assuring that it has enough stock to meet the needs of consumers.


Moving away from Fuel Issues, The NATION has it on its front page that PDP Governors Plan “Unity List” to stop IBB, Jonathan. Part of the story reads; To have a rancor free convention and install the national chairman, Peoples Democratic Party (PDP) governors will compile a “unity list” of candidates who delegates will vote for.

Fuel Scarcity Impedes Southwest

The Southwest branch of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to withdraw services, following the introduction of Bulk Purchase Agreement (BPA) fee by the Nigerian National Petroleum Corporation (NNPC).

If the marketers make good their threat, it will spark another round of petrol scarcity in the region.

The association yesterday lamented the introduction of BPA, noting that petroleum marketers were usually exempted from payment of such fees.

It warned that the introduction of a five-year BPA fee by NNPC may set it on a collision course with its members.

The Chairman, IPMAN Ibadan Depot, Raheem Tayo, confirmed the development to Osun Defender , adding that the NNPC’s decision was unacceptable.


Source: The Nation