Kachikwu inspects filling stations in Lagos today


Okowa-RED-CAP
Delta State Governor, Okowa
Nigeria loses 100,000 barrels daily, says Okowa
To ensure effective distribution of petrol in Lagos State, the Minister of State for Petroleum, Dr. Ibe Kackikwu and officials of the Nigerian National Petroleum Corporation (NNPC) will be inspecting filling stations in Lagos today.
Already, Kachikwu, who met with marketers in Lagos yesterday to appeal to them to resume importation of PMS, has been directed by the Senate to harmonise all subsidy claims in a bid to end fuel scarcity in the country.
The Chairman, Senate Committee on Appropriation, Danjuma Goje, said the N413 billion proposed for subsidy payment did not include the sum for October to December 2015.
Proffering long and short term measures to the fuel scarcity, stakeholders emphasized the need for adequate infrastructure, revamping of the nation’s refineries and deregulation of the downstream sector.
Speaking with The Guardian yesterday, the Director-General of Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, called for more investment in critical infrastructures such as power, roads and the rail system.
According to him, fixing infrastructure will greatly improve productivity and efficiency in the economy and impact positively on the welfare of the people. He added that it would boost private investment in the downstream oil sector especially in petroleum product refining.
Yusuf said that this will ultimately reduce importation of petroleum products and ease the pressure on the foreign exchange market as well as foreign reserves.
National President of NACCIMA, Chief Bassey Edem, said that government should overhaul the existing refineries and encourage building of new ones, especially modular refineries, all around the country to boost her refining capacity for local consumption.
This, he said, would support export of refined products, thereby maintaining local employment and saving the nation foreign exchange used in the importation of refined products.
President, Lagos Chamber of Commerce and Industry (LCCI), Alhaji Remi Bello, said that until the oil and gas downstream sector of the economy is deregulated, the recurring problem of petroleum scarcity in the country will cease to end.
Also yesterday, the problem of piracy in the Gulf of Guinea moved again to the front burner at the two-day retreat for the Nigeria Navy in Asaba, the Delta State.
At the opening ceremony, Governor Ifeanyi Okowa lamented that Nigeria has continued to lose between 40,000 and 100,000 barrels of crude oil daily due to theft as piracy, illegal bunkering and vandalism were still flourishing in the country.
Okowa who spoke on “Nigerian Navy and Emerging Maritime Security Challenges” said that the subject of security has become a recurring decimal in the maritime sector, adding that the topic could not have come at a more opportune time.

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