TheCable

The Nigerian National Petroleum Corporation (NNPC) Limited says stakeholders in the industry will collaborate to ensure wide distribution of petroleum products.

NNPC disclosed this on Thursday, adding that the decision was reached at a stakeholders’ meeting between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Petroleum Tanker Drivers (PTD) in Abuja. 

Others at the meeting were members of the National Association of Road Transport Owners (NARTO) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

Last week, the NMDPRA discovered methanol-laden petrol in the supply chain.

Efforts to curb the supply of the off-spec products led to long queues at fuel stations across the country.

NNPC had accused four marketers, including its own Duke Oil, as the importers of the off-spec petrol.

Emadeb-led Consortium, MRS and Oando denied the allegation.

As the petrol scarcity worsened, NNPC assured the country that it had one billion litres of petrol in stock and expected more to close the supply gap created by the adulterated gasoline. 

It had also tendered an apology over the importation of the off-spec PMS.

NNPC said the stakeholders would ensure the efficient availability of petroleum products in Nigeria.

“All parties agreed to work closely to ensure efficient distribution of petroleum products across the country,” the national oil company said. 

It also assured the stakeholders (NUPENG, NARTO and PTD) that the funding earmarked for the 21 critical roads would be applied for the intended purpose only.

“To allay the fears of the stakeholders, NNPC and all parties commit to working together in the monitoring of the road projects,” it added. 

At the meeting, deliberations were also made on the review of freight rates for transporters. 

“The stakeholders requested for completion of the ongoing discussion on the review of the freight rates to cover operational costs and highlighted the precarious situation that truck owners face in the light of current economic realities,” NNPC said.

“NMDPRA informed the meeting that a committee has been constituted to review the rates, which include PTD, NARTO and NUPENG in addition to other stakeholders.

“All parties agreed to work expeditiously towards concluding the review of the freight rate and make recommendations to the Government. 

“The Authority to advise on a definite close-out date during the week of 21st February 2022.”