FG jerks up num­ber of petrol im­porters to 40

Daily Trust - - ENERGY - By Hamisu Muham­mad

Min­istry of Petroleum Re­sources has in­creased the num­ber of petrol im­porters from 27 in the first quar­ter of the year 2014 to 40 for the sec­ond quar­ter.

A state­ment by the spokesper­son of the Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC), Mr. Ohi Alegbe, on Sun­day, said the move was aimed at sani­tis­ing the na­tion’s fuel sup­ply and dis­tri­bu­tion chan­nel.

The state­ment said: “There are 27 oil mar­ket­ing com­pa­nies with proven per­for­mance records en­listed in re­spect of Q1 de­liv­er­ies. For Q2 (June only), there are 40 mar­keters with good per­for­mance records and whose fa­cil­i­ties are func­tional. The idea of June only is to re­vert back to the nor­mal quar­terly se­quence, i.e. Ju­lySeptem­ber and Oc­to­berDe­cem­ber.’’

The state­ment ex­plained that the min­is­ter has ap­proved the al­lo­ca­tion of a to­tal vol­ume of 1, 854, 314 met­ric tonnes of pre­mium mo­tor spirit known as petrol as sup­ple­men­tary vol­umes for first quar­ters 2014 and sec­ond quar­ter 2014 June only de­liv­ery.

It also said that the sup­ple­men­tary vol­ume for Q1 quota is 750, 000 Mt and the Q2 June only vol­ume is 1, 104, 318. He noted that whilst the first quar­ter sup­ple­men­tary vol­ume is de­signed to com­ple­ment the ear­lier al­lo­ca­tion in ad­di­tion to cov­er­ing any un­der de­liv­ery by mar­keters due to un­fore­seen fi­nan­cial chal­lenges, the Q2 (June only) quota is in con­so­nance with the na­tional con­sump­tion pat­tern of 40 mil­lion litres per day.

It noted that the Q2 quota also cap­tured a 23 per­cent up­per tol­er­ance in the event of de­fault or slip­page into July.

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