Tag: Fuel import

Ɗangote refinery to end crude imports December

Aminu Imam
Dangote to end

The Ɗangote oil refinery is planning to end crude importation by December 2025, according to a report by Bloomberg. The refinery is willing to rely fully on Nigerian crude by the end of the year, a move that would replace hundreds of thousands of barrels a day of imported oil. Bloomberg reports that the plant received about half of its crude in June from local producers, who would be able to sell more to the facility as their foreign supply obligations end soon. According to Vice-President at Ɗangote Industries, who…

Read More

‘?Nigeria spends $25bn on petrol importation yearly’ Shettima

Aminu Imam
Shettima

Vice-President, Kashim Shettima has revealed that Nigeria spends $25 billion per annum on the importation of petroleum products. Shettima made this known at the Vanguard Economic Discourse, themed: Reforms in the Era of Global Economic Uncertainties: Whither Nigeria, which held at the Civic Centre, Victoria Island, Lagos. He said that the importation of fuel would soon be forgotten as the Government of President Bola Tinubu is making efforts to make life comfortable for Nigerians.?Shettima, who was represented by Special Adviser on Economic Affairs, Tope Fasua, assured Nigerians that new policies…

Read More

?’?Petroleum Ministry unaware ?angote imports crude from US’ Minister

Aminu Imam
?'?Petroleum Minister of State

?Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, has said the Federal Government was unaware that ?angote Refineries imports its crude oil from the US. The Minister stated this in Abuja on Thursday, during the Ministerial Sectoral Updates as part of activities to mark President Bola Ahmed Tinubus one year in office. The Minister said the country is blessed with enough crude to supply all the refineries in the country, including the modular ones. The first session of the Sectoral Briefing was attended by the Minister of Budget and…

Read More

Forex Shortage: NNPCL now sole importer of petrol GCEO, Kyari

Aminu Imam

The Nigerian National Petroleum Company Limited (NNPCL) has declared it is the sole importer of petrol in the country. The Group Chief Executive Officer (GCEO), Mele Kyari, disclosed this on Monday, during the ongoing Energy Labour Summit organised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), in Abuja. Kyari said, We are the only company importing premium motor spirit (PMS) into the country. None of them (oil companies) can do it today. For them, access to foreign exchange is difficult. We create foreign exchange (FX), therefore…

Read More

“Its shameful Nigeria still imports fuel” – Obaseki

Aminu Imam

Edo State governor, Godwin Obaseki, has decried Nigerias continued importation of petroleum products despite being one of the largest producers of crude oil in the world. The governor made the submission while speaking with newsmen at Ewohimi, Esan South-East local government area of Edo State, at the 10-year remembrance service of Pa Jeremiah Ighodalo, father of the Chairman of Sterling Bank Plc, Dr. Asue Ighodaro. Obaseki said Nigeria was one of the largest producers of crude oil in the continent and as such, has no business importing fuel into the…

Read More

NNPC apologises to Nigerians over toxic petrol

Aminu Imam

Says fuel scarcity to end soon The Group Managing Director of the NNPC Limited, Mele Kyari, has apologised to Nigerians over the importation of toxic fuel, which caused the current scarcity of Premium Motor Spirit (PMS), otherwise known as petrol, across major cities in the country. Kyari, who appeared before the House of Representatives Committee on Petroleum Resources Downstream investigating the importation of adulterated fuel, said the NNPC was not aware of the presence of methanol in the fuel imported. He said the loading terminal where the fuel was brought…

Read More

Adulterated Fuel: Concerned Nigerians threaten mass protest against NNPC for shielding erring importers

Aminu Imam

A civil society group, Concerned Nigerians, has threatened to storm NNPC Towers with protest if the Group Managing Director (GMD) of the Nigerian National Petroleum Company Ltd, Mele Kyari, fails to sanction the importers of contaminated fuel into the country. Fuel has been scarce in some major cities in the country with motorists queuing for hours in filling stations seeking to purchase fuel, arising from the importation of adulterated fuel by some marketers. Now, the civil society group in a letter dated February 14, 2022, and addressed to the Managing…

Read More

Importers of off-spec petrol must be held accountable, says President Buhari

Aminu Imam

As Reps ask NNPC to suspend companies involved in toxic PMS importation President Muhammadu Buhari has ordered that producers and providers of the off-specification petrol imported into the country must be held accountable. The President issued the directive in a statement issued yesterday, by his Senior Special Assistant on Media and Publicity, Garba Shehu. According to the President, the persons involved must be held accountable for substandard services and or products sold by them. The President also directed the relevant government agencies to take every step in line with the…

Read More

FG begins probe of adulterated fuel imports

Aminu Imam

As NNPC takes delivery of 300 million litres of petrol The Federal Government has initiated the process to investigate the supply of adulterated petrol to the country, which has given motorists serious concerns in the last few days. This followed a briefing on the matter provided to President Muhammadu Buhari by the Minister of State for Petroleum Resources, Timipre Sylva, who confirmed to newsmen yesterday that the aim is to get to the bottom of the matter. Speaking after the meeting of the Federal Executive Council, (FEC), presided over by…

Read More