Showing posts with label fuel scarcity. Show all posts
Showing posts with label fuel scarcity. Show all posts

Soldiers take over Capital Oil,scare civilians and load drums with fuel

Leave a Comment
After the announcement by Ifeanyi Ubah that Capital Oil would release 13 million liters of fuel to aid the suffering of Nigerians over the fuel scarcity,officials of the Nigerian Army on Monday took over the Ojodu Berger outlet of Capital Oil, buying petroleum products in drums, after scaring away thousands of consumers.
The armed personnel came in the guise of maintaining peace and order, but they soon abandoned their primary responsibility for fuel racket. They shoved, maltreated and sent away those who were on queue to be attended to, thereby gaining access to have their drums loaded with fuel.

As of press time, the unregistered white Isuzu truck they use for the ‘deal’ had visited the filling station for the fourth time.The fourth truck was being loaded as of 8:50pm.

The vehicle, on each visit, left with at least 14 drums and dozens of gallons filled with fuel.
The helpless consumers, some of who slept at the filling station, suspected the soldiers were feeding the growing Lagos black market with the product.

The military officials who were fully dressed had taken over the only two pumps that dispensed the Premium Motor Spirit.Those who protested the act were beaten and given scares on their bodies.

Meanwhile, consumers, who had spent the entire Monday at the filling station without getting the product to buy, had described the announcement by Ifeanyi Uba as a publicity stunt.
By 9pm on Monday, not more than a hundred cars left the station with fuel.
Besides the military, officials of the Nigeria Police Force and black market dealers took over the show while thousands of motorists who had crowded the place since 5am were abandoned.

Punch
Read More...

BREAKING NEWS!!!Oil Marketers Reach Agreement With Federal Government, To Resume Fuel Supply

Leave a Comment
Petroleum products marketers and the Federal Government on Monday have set aside their differences and immediately resolve to to ensure restoration of normal supply of fuel throughout the country.

At the end of a meeting convened by the Senate Committee on Petroleum (Upstream and downstream) to resolve the crisis, Chairman, Major Oil Marketers Association of Nigeria (MOMAN), Obafemi Olawore, said its members, consisting Oando, Conoil, Forte Oil, MRS, Total and Mobil Oil agreed to commence lifting and distribution of fuel immediately from the stock supplied by the Nigerian National Petroleum Corporation (NNPC).

Capital Oil and Gas Ltd had on Sunday commenced the loading of 13 million litres of petrol from its depot in Apapa for distribution to the various states to reduce the current scarcity.

The Chairman of the company, Ifeayin Ubah, told journalists in Lagos that more than 2,000 trucks would be loaded before May 29 to boost the country’s economic activities.

He said the company’s facilities had the capacity to load 13 million litres of the product within the period.

“This comes to approximately 500 trucks of petroleum products on daily basis. With this, it is our belief that once again our citizens will begin to smile and return to normal family and work life.

“We call on other petroleum marketers to follow suit and save our nation from this impending economic and social crisis,’’ he said.

Source
Read More...

Sterling Bank, GTB Announce Early Closure, Etisalat, Airtel Also To Shut Down Services Due to Fuel Scarcity

Leave a Comment

The list of banks, radio stations, telecommunication and other companies shutting down due to fuel scarcity are increasing by the day. Sterling Bank, GTB Announce 'Early Closure',  Etisalat, Airtel 'threaten to shut down services'.Even blogs are affected as number of online users have reduced drastically due to the ongoing crisis which have also crippled electricity.




Jonathan do something before you go!
Read More...

Serious Hindrance to Transportation As Fuel Scarcity Worsens

Leave a Comment
As fuel scarcity persist, the economy is shutting down hour by hour.Most companies are shutting down, the price of everything has doubled if not tripled. Transportation fares in Lagos have more than tripled.. Passengers now pay N400 to Oshodi from Mile 2 which normally will cost him just N100. Nigerians working on the Island this morning paid N500 from Ogba to CMS which normally will cost them N150-N200. In many cases, there are serious queues and fights to board the few buses working.
Read More...

Despite scarcity, daily subsidy on petrol hits N1.81bn

Leave a Comment

The Federal Government is still spending about N1.81bn daily to subsidise the Premium Motor Spirit, otherwise called petrol, notwithstanding the nationwide scarcity of the product.

Latest figures from the Petroleum Products Pricing Regulatory Agency show that the government is paying N45.28 as subsidy for every litre of petrol consumed in Nigeria.

Specifically, the agency, in its pricing template released on May 21, 2015, based on prices for May 20, 2015, stated that the Expected Open Market price or total cost for petrol was N132.28 per litre.

This was against a retail regulated price of N87 per litre. The difference between the EOMP and the retail price is therefore N45.28.

According to the Nigerian National Petroleum Corporation, Nigeria consumes about 40 million litres of the PMS daily.

Multiplying the amount of fuel consumed across the country on a daily basis with the current amount spent on subsidising the product, it means that the government spends about N1.81bn on subsidy daily, provided the N45.28 per litre subsidy figure persists.

The PPPRA stated that the effective date of the approved pricing template was January 19, 2015, noting that the actual landing cost of the product was N116.79 per litre.

The cost elements that make up the landing cost include the product’s offshore cost, N104.87; trade margin, N1.47; lightering expenses, N4.19; NPA, N0.77; financing, N1.68; jetty depot throughput charge, N0.8; and storage charge, N3.

On the cost of the product’s distribution margin, according to the agency, retailers get N4.6; transporters, N2.99; dealers, N1.75; bridging cost is N5.85; marine transport average, N0.15; and the admin charge, N0.15. The sub-total margin stands at N15.49.

When added to the landing cost of N116.79, an EOMP of N132.28 per litre is arrived at. But this is subsidised and a flat official rate of N87 per litre is given.

Meanwhile, many independent marketers hardly sell at the regulated N87 price since the latest scarcity of petrol started.

Aside from the NNPC petrol stations and some outlets belonging to major oil marketers such as Conoil, Total, Mobil, Oando, Forte Oil, most other filling stations sell the product above the regulated price despite the fact that the subsidy by the Federal Government is still in place.

The scarcity of fuel has continued throughout the country.

In Abuja, many motorists spend quality man-hours in fuel queues, especially at filling stations where the product is sold at the regulated pump price.


Read More...

Sad! Woman dies after childbirth due to fuel scarcity

Leave a Comment
This is so sad!!!It's not only businesses that have been affected by the ongoing fuel scarcity crisis, so many lives are at stake too. If there was any respect for Jonathan's administration even after he lost the Presidential elections, i think that respect has turned into anger and the president has incurred a lot of anger from Nigerians because of the sufferings caused by this impending fuel scarcity.

Read More...

Arik Airlines Also Shuts Down Operations Due To Fuel Scarcity

Leave a Comment
As the fuel crisis in Nigeria worsens, most business activities in the country have taken a nose dive. Arik Airline sent out a notice stating that they have low diesel supply and if they don’t receive diesel within the next 24 hours, flights will be degraded and customers will feel the impact.
Meanwhile, Arik have cancelled most flights…

Read More...

Fuel Scarcity Wahala!!!Radio stations in Lagos shutting down early due to fuel scarcity

Leave a Comment

For those who don't believe that the fuel scarcity problem in Nigeria is one of the wort recorded in the country's history, these are some of your proof. So many corporate and private business have been affected by the scarcity problem.  Here are top Nigeria radio stations  shutting down early just to make do with the little diesel they can get.

Read More...

Serious Fuel Shortage Hits Ghana(See Photos)

Leave a Comment
Ghana seems to be going through tough times at the moment as its citizens who have been complaining badly about the electricity propblem has now added fuel scarcity to their list of worries. Ghanaians are very worried and the president is to be blamed for all this. Check out some photos that popped up on social media. Flip through for more photos below:





Read More...