…..FG Begins Sale Of Crude Oil In Naira
The Nigerian National Petroleum Company, NNPC, Limited’s trucks have arrive the Dangote Refinery ahead of loading of petrol today, Sunday, as scheduled.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, said “We (NNPC Ltd) has started deploying our trucks and vessels to the Dangote Refinery to lift PMS (petrol), in preparation for the scheduled lifting date of September 15th, as set by the refinery.
“Our trucks and personnel are already on site, ready to begin lifting.
“We are expecting more trucks, and the deployment will continue throughout the weekend so we can start loading as soon as the refinery begins operations on the 15th (today)
On X (Twitter), Soneye wrote: “NNPC Ltd. trucks are arriving at the Dangote Refinery in preparation for the scheduled petrol loading on Sunday, September 15, 2024.
“By the end of today, at least 300 trucks will be stationed at the refinery’s fuel loading gantry.”
Earlier, NNPC made same announcement.
It posted that “In preparation for the Dangote Refinery’s scheduled petrol loading on Sunday, September 15, 2024, NNPC Ltd. has been mobilising trucks to the refinery’s fuel loading gantry in Ibeju-Lekki.
“As of Saturday afternoon, NNPC Ltd. had deployed over 100 trucks, with hundreds more en route.”
The Lagos State Government has promised a comprehensive traffic management strategy to guarantee uninterrupted traffic flow along the Lekki-Ajah corridor.
The measure is in view of Dangote Refinery’s commencement of fuel distribution to outlets on Sunday, Sept. 15.
Mr Sola Giwa, the Special Adviser to the Governor on Transportation, made this known in a statement on Saturday.
The statement was signed by Mr Taofiq Adebayo, Director, Public Affairs and Enlightenment Department, Lagos State Transport Management Agency (LASTMA).
It quoted Giwa as saying that LASTMA had been fortified with state-of-the-art equipment and trained personnel which would be strategically deployed to oversee and regulate traffic flow within the affected areas.
He reassured residents and commuters in the Lekki-Ajah vicinity that thorough preparations had been made, urging them to remain calm and confident in the state government’s capabilities.
“In collaboration with relevant stakeholders, LASTMA has mobilised advanced tow trucks and emergency response equipment to promptly address anticipated potential traffic disruptions.
“Medical ambulance services are also on high alert to ensure rapid response in emergency situations,” the special adviser said.
He said that it was imperative for tanker operators to strictly adhere to traffic regulations, particularly during loading and navigation, within the Lekki-Ajah axis.
Giwa said that the state government would rigorously enforce the regulations to avert traffic disruptions and ensure seamless vehicular movement.
“The Lagos State Government reaffirms its commitment to safeguarding citizens’ welfare and maintaining orderly traffic during this pivotal period of industrial activity.
“All motoring public, particularly commercial bus operators, including mini-bus drivers, are hereby cautioned to comply with traffic laws refraining them from picking up, or dropping, passengers at undesignated bus stops.
“They are urged to avoid driving against traffic. They are also advised to observe all road signs, including traffic signals, among other regulations.
“Adherence to these regulations will ensure a harmonious and efficient transportation system,” he said.
FG Begins Sale Of Crude Oil In Naira
Meanwhile, the Federal Government has announced that it has started selling crude oil to local refineries and buying of petroleum products in Naira.
It explained that the novel strategy will assist to reduce the pressure on the Naira, lower extra costs and make fuel more available.
These were contained in a statement issued on its X page by The Federal Ministry of Information and National Orientation on Saturday, September 14.
The statement reads: “In a landmark move towards reducing pressure on the Naira, eliminating unnecessary transaction costs, and improving availability of petroleum products, the Federal Government has successfully initiated the sale of crude to local refineries as well as corresponding purchase of petroleum products in Naira.
“The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this today in his office in Abuja shortly after the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira.
“Represented by the Executive Chairman Federal Inland Revenue Service (FIRS) Dr Zacch Adedeji, the Minister announced the completion of all agreements and modalities for the implementation of the Federal Executive Council (FEC) approval on the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.
“Recall that the FEC under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.
“This initiative will help reduce pressure on the Naira, eliminate unnecessary transaction costs, and improve availability of petroleum products in the country.
“Since then, the implementation committee chaired by the Hon. Minister of Finance and the technical committee have worked intensely with NNPCL and Dangote Refinery to fashion out the details of the modalities for the implementation of the FEC approval.
“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September.”
It added:”From 1st October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira
“Diesel will be sold in Naira by the Dangote Refinery to any interested offtaker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now.
“All associated regulatory costs (NPA, NIMASA, etc.) will also be paid for in Naira.
“We are also setting up a one-stop shop that will coordinate service provision from all regulatory agencies, security agencies, and other stakeholders to ensure a smooth implementation of this initiative. This will be located in NPA, Lagos.
“We thank everyone for the hard work and patriotism exhibited over the last couple of weeks.
“We would sincerely like to thank Mr. President for championing this novel initiative and would like to assure Mr. President that he can count on us to implement his vision,” the Minister said.
”This initiative marks a significant milestone in Nigeria’s journey towards energy self-sufficiency and economic growth.”
