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Fuel import: NNPC mulls N266.5bn spending in 20 days

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…to import 100m litres of PMS daily

 

The Nigerian National Petroleum Corporation (NNPC) has declared its readiness to import two billion litres of Premium Motor Spirit (PMS) also known as petrol for the remaining 20 days in February. The plan, checks by New Telegraph showed, will surge the state-owned corporation’s spending on fuel imports to N266.48 billion based on N133.24 ex-depot price. Giving out details of its imports schedule for February, NNPC yesterday stated that it had programmed to bring in two cargoes of petrol per day for the rest of February 2018 to boost supply.

The imports programme, it said in a statement issued by the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, was “in a bid to keep the country wet with petrol and eradicate the fuel queues that have resurfaced in some cities.” Each of the two cargoes, the schedule showed, “is 50 million litres, making a total of 100 million litres that will be brought in per day for the rest of February to increase supply and replenish strategic reserves.” This amounts to two billion litres in 20 days.

The arrangement will gulp over N266.48 billion in imports spending for the two billion litres based on N133.24 ex-depot price. The NNPC’s statement added that to enhance supply, 45 million litres of petrol was discharged from ships into jetties across the country yesterday.

“Prior to the fresh 45 million litres discharge, there was 324 million litres of petrol on land and 432 million litres in marine storage, making a total of 756 million litres, enough to last for 22 days at 35 million daily consumption rate,” the statement read.

The jetties that received the 45 million litres shipments, Ughamadu said, include Nacj, Apapa; Bop, Apapa; Techo Jetty, Lagos; Dutchess, Oghara; Vine Jetty, Calabar; Chipet Jetty, Lagos; and ECM Jetty, Calabar. “To ensure efficient distribution of the product to depots in the hinterland, the Nigerian Pipeline and Storage Company (NPSC), a midstream subsidiary of the NNPC, has been mandated to fix relevant pipelines to facilitate seamless pumping, in addition to massive trucking arrangement that is in place.

“The corporation assures that with the measures in place, the fuel queues being experienced in some cities would soon be a thing of the past,” the statement added. Though the NNPC earlier insisted that the new cost of oil at the international market would not lead to hike in pump price of fuel, it confirmed the increase in daily truck out and extra cost through its Group Managing Director of the NNPC, Dr. Maikanti Baru. Baru said that it now cost N171.40 per litre to import petrol into the country. Using the approved template of the Petroleum Products Pricing Regulatory Agency (PPPRA), the total landing cost in December 2017, when Dr. Baru opened up on the higher fuel price, amounts to N185.70 with the addition of the N14.30 per litre distribution margin approved in the last pricing template for petrol by the PPPRA. Oil sold for an average of $57 per barrel in December 2017. This implies that the government is subsidising petrol consumption by as much as N40.70 per litre.

The higher price of $69 per barrel for crude at the international market showed that over N190 is spent on total cost of one litre of fuel imported into the country. Based on N185.70 total price hinted by NNPC’s GMD as at last December, over N371.4 billion (N266.48 billion and N81.4 billion subsidy) would be the total cost on two billion litres scheduled to be imported in the remaining 20 days of February. This includes about N81.4 billion (N40.70 per litre on two billion litres) cost on fuel subsidy during the period.

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Police storm Kuku’s house in search of kidnappers

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Kingsley Kuku

Men of the Nigerian Police Force stormed the resident of former Special Adviser to President Goodluck Jonathan on Niger Delta Affairs, Hon. Kingsley Kuku and made away with some undisclosed items.

Led by Sunday Alli, a Supretendent of Police in the IGP Tactical Squad for Armed robbery, gun running and Kidnapping, the men stormed the Arogbo in Ese-Odo Local Government area of Ondo State and shot sporadically into the air to scare away residents.

Kuku had left Nigeria for the United States of America (USA) for what he called medical reasons shortly after the Peoples Democratic Party (PDP) lost the 2015 elections.

Since then, he has not returned to the country to answer some of the charges prefer against him by the Economic and Financial Crime Commission (EFCC)

Sources said armed policemen, numbering over 20 stormed the residence of former Special Adviser to the President on Niger Delta Affairs and started shooting sporadically into the air to scare away everybody in the house and neighbourhood.

According to a source in the neighbourhood, who pleaded that his name should not be mentioned in press, said the policeman ” forcefully broke into every room and everywhere in the house claiming to be in search of kidnappers.

“After combing all the rooms in the house in a commando style, they left without anything incriminating nor any kidnapper in the house,”

Another source, a woman in the neighbourhood who also spoke on condition of anonymity said “this is actually a worrisome and a condemnable act exhibited by the Police.

“How can the Police who are supposed to protect the citizens be the source of panic in a peaceful community by storming a private residence without a search warrant, and shoot sporadically to scare away unharmed citizens, claiming to be in search of kidnappers? This shouldn’t be happening in a democratic state.”

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Africans richest woman, Alakija narrates how 3 siblings defrauded her

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Folorunso Alakija

A business tycoon and one of the richest women in Africa, Mrs Folorunso Alakija has narrated to an Ikeja High Court how Vincent Ayewah, a staff of her Rose of Sharon Foundation and his two siblings defrauded her of N3million.

Vincent, who works as a clerk and admin officer for the foundation was arraigned by the Economic and Financial Crimes Commission (EFCC) alongside his siblings Florence Ayewah and Emmanuel Ayewah and four others; Onuwa David, Okoronkwo Chikadibia, Ehizibolo George and Chinyere Awanah.

The EFCC alleged that Vincent conned Alakija’s foundation of the funds by forging cheques while conniving with his siblings and cohorts to pose to banks as beneficiaries of the foundation.

While being led in evidence by the prosecuting counsel, Mr M.D Aliyu, Alakija said, “On November 13, 2012, my treasurer Gladys Efiozor called me to say that she received a call from Stanbic IBTC concerning a forgery of a cheque.

“I told her to send me an email of the forged cheque and when I saw it I told her that the signature was not mine, there are three signatories to that account and the forged signature did not match those of the other signatories.

“Florence (Vincent’s sister) was the one caught with the cheque, tge bank called EFCC to investigate and Florence was handed over to the EFCC.

“It was discovered that the bag she was carrying had 12 different Identity cards of beneficiaries of the foundation with her pictures on the identity cards.

“The bag also contained cash collected from other banks from the foundation’s account.”

Alakija further said that she confronted Vincent and seized his mobile phone after he had received a suspicious call and that he had also deleted an incriminating text message from his phone.

“He admitted to the fraud and begged for mercy, he had done other infractions in the past and had begged for mercy anytime he was caught.

“Vincent enjoyed a new lifestyle with proceeds from the scam, buying a new car which he parked far away from the premises of the office to avoid detection.

“A blank cheque and a survey plan of a property was in his car.

“He had committed infractions before, begged for mercy and I forgave him, I thought that with warnings, he will change,” the billionaire said.

During cross-examination by the Defence Counsel, Mr Obiora Umeh, she said: “There are widows and orphans that need to be empowered, I have one project manager at a time that Vincent Ayewah was reporting to.

“When he needs to write the cheques he had to handle the cheque book, I knew he was issuing the cheques because it was part of his duty.

“The auditors must have gone through the list of beneficiaries and approve it, I can’t remember now if they were going through the cheque books because our systems have since changed.

“The issue at hand is that the first defendant (Vincent) had taken blank cheques and written the names of the beneficiaries on them.

“Vincent’s siblings had gone to pose in banks to pretend that they were the original beneficiaries.

“Even if it wasn’t a blank cheque he had torn out and he had followed the normal sequence of things, they will still go and pose as beneficiaries,” she said.

Justice Hakeem Oshodi adjourned the case until October 25 for a continuation of trial.

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School feeding: Vendors steal 200 crates of eggs, yam, rice in Niger

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A desk officer has been caught with 200 crates of eggs stolen from the store of food meant for pupils in the homegrown feeding of primary school pupils in Niger state.

While responding to questions on Thursday at a post Exco briefing, the Commissioner for Women Affairs, Barrister Amina Musa disclosed that the person involved has been reported to the State Security Service (SSS) for further action.

Speaking on the implementation of the programme in the state, she said over 560,499 pupils benefited from the programme in the state while 4,929 food vendors have been engaged.

According to her “my ministry has organised stakeholders meeting to ensure elimination of challenges and I have also warned vendors to desist from stealing food and other condiments.

“We also gathered that some tubers of yam and rice were stolen thereby reducing the ration for schools. Luckily, we eventually discovered and recovered the items.”

She added that N392,300,000 was allocated to the state by the presidency for a period of ten days.

Barrister Musa also disclosed that the free feeding programme has led to increases in school enrolment of pupils in the state.

She said that the programme has also boosted the economic empowerment of farmers and women in the state due to the patronage of local food items while several women were engaged as cooks.

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