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Tuesday, July 14, 2015

FG Slashes Import Licenses To Oil Marketers From 43 To 29


The Federal Government has issued licenses to import refined petroleum products to 29 major oil marketers in a bid to end the fuel scarcity being witnessed across the country.






The third quarter approval for import allocations to the 29 marketers signalled a significant reduction in the number of marketers previously issued with such allocations.

Previously, 43 marketers were given import allocation but the significant reduction is seen as a way of blocking revenue leakages in the oil and gas sector as promised by President Muhammadu Buhari.

The 29 marketers include the Nigerian National Petroleum Corporation (NNPC) which in the last couple of months struggled to sustain supply.

It was gathered that the approval was given by President Muhammadu Buhari to the Petroleum Products Pricing and Regulatory Agency (PPPRA) to allow the NNPC and other oil marketers to import fuel into the country this quarter.

The third quarter import allocation is thought to be around 1.6 million metric tonnes of petrol, a source in PPPRA disclosed.

Beside the NNPC, some of the marketers issued licences are NIPCO Plc, Oando Plc, Conoil, Mobil Oil, Masters Energy, Techno Oil and Folawiyo Oil and Gas, Total Nigeria Plc and Mobil Oil Plc.

Although the PPPRA was yet to issue an official statement on the third quarter import allocation, another source in PPPRA said the agency now expects major oil marketers to resume importation of petrol after extracting a promise from the government that outstanding claims on subsidies will be paid.

An industry source who pleaded anonymity confirmed the allocation to news reporters in a telephone conversation.
”We got our allocation letters on Friday and I’m sure there are 29 of us as against the previous 43 marketers issued licenses to import,” he said.

It will be recalled that the current Senate President, as a first term Senator in 2011, raised a motion on the need for transparency and accountability in the  fuel subsidy scheme which unravelled what has been termed as one of the biggest fraud in the nation's history.

The motion by Saraki then prompted PPPRA to prune down the number of participating companies from 128 before the exposure to 42 and now to 29 by Buhari.

A quick survey of Nigerians have shown that 90 per cent are confident that with Buhari as President and Saraki as Senate President justice will be done to the issue of fuel subsidy. 






34 comments:

  1. Replies
    1. PMS is supposed to be sold at 87 dollars. ..sorry 87 naira (pardon me, im so used to dollars )...

      Still wondering why i still buy at 110 naira...abi na only mi Ni...?

      So anya ka m n'enegodu ndia

      Delete
  2. We hope it's for good!!!

    chincobee.blogspot.com

    ReplyDelete
  3. Sai Buhari!!!!

    ReplyDelete
  4. Good! We are tired of the long queues at filling stations! !

    For free advertising for your businesses, events and exhibitions, read the next post on my blog by clicking on my name.

    Giveaways coming soon...

    ReplyDelete
  5. Let them fast about it because fuel is N100 per litre.

    ReplyDelete
  6. Keep working Mr president, let there be transparency!

    ReplyDelete
  7. And he gave them to his APC brothers and asslickers....
    See Thiefnubu's Oando topping the list...
    Mtcheeeewwww...

    ReplyDelete
    Replies
    1. .... so tinubu owns Oando?? Bloody illiterate!!!

      Delete
    2. What exactly do U want! Must u condemn everything he does simply because he is not ur candidate. Leave sentiments aside and pls move on.

      Delete
    3. Best opportunity to deal with Capital Oil...Ifeanyi ndi ala e nwetago gi!!!!

      Delete
    4. Anon you are a fool....
      The Thiefnubu I mearnt is Wale the owner of Oando!!!...the one that took picture with Aisha Buhari....
      Idiot!!...

      Delete
  8. If it will solve the problem of everyday queuing then good. i have qualms with this.

    ReplyDelete
  9. Anything to make life better for Nigerians is a welcome development.
    naijaflo.com

    ReplyDelete
  10. Good move, lets see if this will solve the long fuel queues in major cities in the country.


    PLease check out my blog and share your views.

    ReplyDelete
  11. Ooooooooooh my...!
    What a good move

    ReplyDelete
  12. Good step in the right direction

    ReplyDelete
  13. As long as is beneficial to the people of Nigeria

    ReplyDelete
  14. I hope it would make a difference reducing the level of fuel scarcity...

    ReplyDelete
  15. PMB is gradually delivering on his promises.Change has come indeed

    ReplyDelete
  16. How nice of him.. More grease to your elbow Mr President..

    ReplyDelete
  17. I guess my company would be among the 29 major oil marketers.

    ReplyDelete
    Replies
    1. bwhaaaahaaa gbara ogwu gi nghuuooo

      Delete
  18. Capital oil better be there o.

    ReplyDelete
  19. To import Oil into an oil producing nation...
    Big FOOLs.
    After selling cheap oil to the west, you now buy it back from the west.
    No wonder 90% of Nigerian living in Nigeria are so dumb.

    ReplyDelete
  20. What is nice about importing oil in Nigeria? Did he promised that refinaries will begin to immedietely he came onboard? Pls we are tired of short term measures, tell us what you intend to do in the long term to solve the problem. Most oil producing countries refine their crude, we can too even if its with drums n firewood in the creeks encourage our local refiners in the mangrove swamps if they will not be able to meet Nigerians demand. Mtcheeeeew.

    ReplyDelete
    Replies
    1. Absolutely my thoughts. It doesn't make economic sense or logic. Our refineries should be reformed and costs would reduce. It ain't rocket science.

      Delete

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