300m litres of PMS have been imported to close shortage gap: NMDPRA

Technocrat Media, Lagos

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Nigerian National Petroleum Corporation (NNPC) Limited has imported 300 million litres of petrol to close the shortage gap caused by the recall of the off-spec products withdrawn from circulation.

Farouk Ahmed who is the chief executive officer of NMDPRA disclosed on Wednesday in Lagos.

The organisation (NMDPRA) had on Tuesday confirmed that petrol, with methanol quantities above Nigeria’s specification, was discovered in the supply chain and had been withdrawn.

According to Mr Ahmed, depots have been functional due to the withdrawal procedures carried out to avoid the supply of methanol-laden petrol. 

The NMDPRA boss said queues experiences across the country would disappear by Thursday with the delivery of the 300 million litres of petrol by the NNPC.

“Today, I am happy to say that loading has been going on in most of the depots because we have been able to identify, isolate and quarantine the limited amount of gasoline that was affected by the methanol volume that was discovered,” Ahmed said. 

“We have vessels that have arrived in the country recently. At least six arrived in the last few days ordered by the NNPC, carrying a total volume of close to 300 million litres, just to close the gap created by those vessels we have withdrawn from the system.”

Mr Ahmed added that 9,000 metric tonnes (MT) vessel has been discharged at Apapa port to major marketers, including OVH, TotalEnergies, 11 Plc, Conoil, and Ardova Plc.

The NMDPRA boss said when the vessels complete discharging and start pushing products to oil marketers, there would be no fuel queues in Lagos by Friday.

“So, once these vessels complete discharging and start pushing the products to marketers, I believe Lagos will be cleared by Friday. We have got that assurance from the marketers,” Ahmed said. 

“Also, most of these vessels will also be providing volumes to most of the members of the key members of DAPPMAN.”

He further said that Nigeria presently has petrol that can last for 20 days.

“Our ideal days of sufficiency is 30, but because of the concern that made us withdraw the vessels which created the gap in our 30 days sufficiency,” he said. 

“Again, with aggressive importation by the NNPC, this will be closed in a few days, according to the data we got from the NNPC’s import programme.

“Loading is also ongoing in most of the depots that have confirmed spec products; so, there is no need for panic. Hopefully, by tomorrow, Lagos will be cleared.”