• Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
Tuesday, March 28, 2023
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Economic Confidential
  • Home
  • News
    • AllNational NewsState News
      Abdulrazak Ibrahim

      Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

      President Muhammadu Buhari, President of Nigeria

      Buhari Rejects NASS Bill To Summon President, Govs

      CEO, Araba Tech, Amb. Segun .H. Olugbile

      Araba Tech Boss Receives ‘PAN African Technology Icon Of the Year’…

      Hon. Anthony Chinasa-Abiola

      PRNigeria Fact-Check Reveals Identity of Abia Assembly’s Member-Elect, Anthony Abiola

  • Business
    • Central Bank of Nigeria, CBN

      Credit To Private Sector Increase By N212bn In February

      Foreign Airlines

      Airfares Rise As Foreign Airlines Hike Exchange Rate

      Jumoke Oduwole, the Special Adviser to the President on Ease of Doing Business

      Gombe Retains Top Position As Easiest State For Business – PEBEC

      Nigerian Stock Exchange, Stock, Nigerian Exchange Limited

      In One Week, Stock Investors Record N13bn Loss

      Stacks of Dollar Bills, Dollar

      Foreign Reserves Drop By $1.43bn In Ten Weeks

  • Features
    • AllInsightOpinion
      Buhari and Emefiele with at eNaira launch

      E-Naira: Simplifying Financial Inclusion for the Downtrodden, by Abdulrahman Abdulraheem

      Abdulrazak Ibrahim

      Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

      Nigeria Population

      Nigeria’s Population is a lot less than 220 million, by Tope…

      E-Naira, Godwin Emefiele, CBN

      e-Naira: Taking Agriculture in Nigeria to New Technological Heights, by Abdulrahman…

  • FAAC
    • FAAC

      FAAC: FG, States, LGAs Share N722.677 for February

      FAAC

      Kano, Lagos, Get Massive Share As LGs Share N2trn

      FAAC

      FG, States, LGCs Share N990.189bn In Dec 2022

      FAAC

      FAAC Shares 902.053 billion for November

      FAAC

      Fuel Subsidy Unsustainable, Rising Public Debt Worrisome – FAAC

  • Financial
    • AllFacts & FiguresMonetaryTax Matters
      Old Naira Notes

      Despite Acceptance of Old Notes, Crowd Overwhelm Banking Halls

      Naira Redesign: Reps Urge CBN to Revamp e-banking Platforms

      TAX

      FG Announces Removal Of 5% Tax On Calls, Data

      Court Judiciary Justice, Court, Judiciary

      FG Loses Suit To Recover N70trn Loot Over Poor Prosecution

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Pantami’s grand exposés on Cybersecurity and the Datafication of Society

      The Inimitable Kongi at 88

      The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo

      Adeniyi Adebayo: Unsung, Silent Strides in Economic Diversification

      Shettima: Nigeria’s Modern Day Philosopher-King

  • Special Focus
    • Maraba Takushara Community

      SPECIAL REPORT: Maraba Takushara, an FCT Community Under Siege… So Close…

      Yahaya Bello’s Health Initiatives: Building Nigeria of his Dreams in Kogi

      Model Science Secondary School: Yahaya Bello’s Gift to Future Generations

      Yahaya Bello, PWDs and the Love of Humanity

      Travelogue: Yahaya Bello and the Audacity to Dream (1)

Home Financial Queue To End In A Few Days, Says NNPC- Fuel Scarcity
  • Financial

Queue To End In A Few Days, Says NNPC- Fuel Scarcity

The Nigerian National Petroleum Corporation Limited has assured Nigerians that

By
Economic Confidential
-
February 18, 2022
GMD NNPC, Mele Kyari
GMD NNPC, Mele Kyari
FIRS

Queue To End In A Few Days, Says NNPC- Fuel Scarcity

The Nigerian National Petroleum Corporation Limited has assured Nigerians that the company had placed significant orders of over 2.1 billion litres of methanol-free petroleum to ensure that the long queues of petroleum end in a few days.

This was disclosed in a statement by GarbaDeen Muhammad, the group general manager, group public affairs division of the NNPC Limited.

According to the statement, the NNPC boss, Mele Kyari, gave the assurance while briefing the House of Representatives Committee on Petroleum (Downstream).

The federal government had on Tuesday last week said methanol, a chemical additive, found in recently imported fuel exceeded Nigeria’s specification.

The development has resulted in a shortage of petrol and queues reappearing in major cities including Abuja and Lagos.

The Nigerian National Petroleum Corporation Limited has assured Nigerians that the company had placed significant orders of over 2.1 billion litres of methanol-free petroleum to ensure that the long queues of petroleum end in a few days.
This was disclosed in a statement by GarbaDeen Muhammad, the group general manager, group public affairs division of the NNPC Limited.

According to the statement, the NNPC boss, Mele Kyari, gave the assurance while briefing the House of Representatives Committee on Petroleum (Downstream).

The federal government had on Tuesday last week said methanol, a chemical additive, found in recently imported fuel exceeded Nigeria’s specification.

Traffic gridlocks appeared across some major parts of the city as many service lanes were closed to traffic due to queues from petrol stations.

Read Also: NNPC Apologizes For Fuel ScarcityNNPC Apologizes For Fuel Scarcity

Mr Kyari explained that the situation came about as a result of the discovery of methanol in the PMS cargoes shipped to Nigeria under the subsisting commercial contract operated by the NNPC and its partners.

The NNPC boss said the reason tests did not reveal methanol presence was because Nigeria’s testing mechanism does not cover methanol.
He also noted that methanol discovery was made by its inspection agents who noticed the emulsification at the filling stations.
We are a law-abiding company. There is no way we could have known about the methanol presence. The only way we could have known about it is if our suppliers, in good faith, disclosed it to us,” he said.

“In this particular instance, the discovery was made by our inspection agents who noticed the emulsification at the filling stations and brought it to our attention.

“Subsequent investigation revealed that the four cargoes which are all from the same source also contained methanol-blended PMS,” Mr Kyari said.

He noted that the NNPC then moved swiftly to trace all the affected products and quarantine them to forestall further damage.

While assuring the committee and Nigerians that measures have been put in place to accelerate fuel supply and distribution in the country, he said the company had placed significant orders of over 2.1billion litres of methanol-free PMS to ensure the queues vanish in a few days.

He pledged that NNPC would cooperate with the committee and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to get to the root of the matter.

He expressed deep empathy with Nigerians on the current situation and assured that adequate measures have been put in place to maintain supply sufficiency and prevent future occurrence.

9ja newstoday

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

 
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Fuel Scarcity
  • Mele Kyari
  • N697 Billion
  • NNPC
Previous articleSupporting Tertiary Education Through Increased Taxation, by Rahma Oladosu
Next articleProsecute Politicians Involved in Vote Buying, Rafsanjani Charges INEC
Economic Confidential

RELATED ARTICLESMORE FROM AUTHOR

Old Naira Notes
Financial

Despite Acceptance of Old Notes, Crowd Overwhelm Banking Halls

Business

Naira Redesign: Reps Urge CBN to Revamp e-banking Platforms

Business

BREAKING: CBN Increases Interest Rate to 18 Percent, Says Nigeria Banks Healthy

Business

Cash Crunch: E-bills Payment Falls by 44% Amidst Cashless Policy – NIBSS

nupeng
Business

Naira, Fuel Scarcity: 24.8m Nigerians Projected to Face Hardship – Report

Old Naira Notes
Business

New Notes Dry up as Old Cash Circulation Improves

SEMA

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here: To Order Now!

PRNigeria FEEDS

Loading RSS Feed

EDITOR PICKS

Dr. DeWayne Frazier

AUN Appoints Dr. DeWayne Frazier as President/Vice Chancellor

Editors Pick March 27, 2023
Buhari and Emefiele with at eNaira launch

E-Naira: Simplifying Financial Inclusion for the Downtrodden, by Abdulrahman Abdulraheem

Opinion March 27, 2023
Abdulrazak Ibrahim

Abdulrazak Ibrahim: Celebrating Nigerian Genetic Engineer

News March 27, 2023

POPULAR POSTS

FG Loses $1bn Annually In Maritime Sector

Monetary May 19, 2020

Ajaokuta Steel Company Gets N4.3bn for Revival

Business January 9, 2017
MTN Office

MTN Nigeria Opens Offer Of N100bn Commercial Paper Issuance

Business May 29, 2020

POPULAR CATEGORY

  • Business10113
  • Monetary2759
  • Financial2424
  • Featured Post2195
  • National News1886
  • News1844
  • Editors Pick1679
  • Opinion1072
  • Features707
ABOUT US
Economic Confidential is the Abuja based Nigerian News Magazine. Economic Confidential Magazine is Factual, Authoritative and Accessible.
Contact us: [email protected]
FOLLOW US
© 2017 Economic Confidential . All Rights Reserved.
X whatsapp