Monday, May 25, 2015

BREAKING NEWS: Oil marketers reach Agreement with Federal Govternment on resumption of fuel supply

Petroleum products marketers and the Federal Government today resolved to immediately mobilise to ensure restoration of normal supply of fuel throughout the country.

Following 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.

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