Connect with us

Business

Relief! NNPC distributes 1 billion litres of fuel nationwide, begins 24hr operations

Published

3 years ago

on

Relief! NNPC distributes 1 billion litres of fuel nationwide, begins 24hr operations

Relief! NNPC distributes 1 billion litres of fuel nationwide, begins 24hr operations

There is relief in sight for Nigerians as the Nigerian National Petroleum Corporation Limited (NNPC) says it is distributing one billion litres of safe Premium Motor Spirit, known as petrol, in its stock to various fuel stations nationwide.

 

 

 

 

 

 

 

 

The NNPC also noted that 2.3 billion litres of PMS would arrive in Nigeria between now and February ending to address the current situation and restore sufficiency.

 

 

Relief! NNPC distributes 1 billion litres of fuel nationwide, begins 24hr operations

 

 

 

 

 

Group Executive Director, Downstream, NNPC, Adetunji Adeyemi, disclosed this on Tuesday in Abuja while briefing newsmen.

 

 

 

 

 

 

Adeyemi said this would address the situation and restore the sufficiency level above the national target of 30 days.

 

 

 

 

 

He said that the NNPC understood the current fuel supply disruptions in many parts of the country caused by the discovery and subsequent quarantine of methanol blended cargoes of PMS.

 

 

 

 

 

 

He said, “As of today, NNPC has one billion litres of petrol in stock and the petrol being dispensed today at various fuel stations in the country is safe.

 

 

 

 

 

 

 

 

“In order to accelerate PMS distribution across the country, NNPC has commenced 24-hour operations at its depots and retail outlets to restore normal supply and distribution of PMSg across the country..”

 

 

 

 

 

 

 

Similarly, he noted that the Major Oil Marketers Association of Nigeria, Depot Owners and Petroleum Products Marketers Association of Nigeria and the Independent Petroleum Marketers Association of Nigeria have commenced 24 hours loading and dispensing activities in some of their designated outlets.

 

 

 

 

 

He added that NNPC has constituted a monitoring team with the support of the Nigeria Midstream and Downstream Petroleum Authority and other security agencies to ensure the smooth distribution of PMS nationwide.

 

 

 

 

 

 

“NNPC implores Nigerians to avoid panic buying and assures that the ongoing efforts would be sustained to restore normalcy in few days time,” Adeyemi added

Related Topics:

Sahara weekly online is published by First Sahara weekly international. contact [email protected]

Continue Reading
Advertisement

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

19 hours ago

on

December 21, 2024

By

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

 

 

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

 

 

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

 

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

 

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

 

 

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

 

 

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

 

 

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

 

 

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

 

 

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Continue Reading

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

1 day ago

on

December 21, 2024

By

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

 

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Continue Reading

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

on

December 20, 2024

By

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.
The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.
“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.
The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.
Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.
The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.
This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.
Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Continue Reading

Cover Of The Week

RSS Africa-Newsroom

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

Trending