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November 8, 2024 NNPCL Denies Dealing in Adulterated Petrol

NNPCL Denies Dealing in Adulterated Petrol

The Nigerian National Petroleum Company Limited (NNPCL) has said that it does not deal with adulterated petrol.

NNPCL Chief Corporate Communications Officer, OLUFEMI SONEYE, disclosed this in a statement he released to newsmen last night.

SONEYE also rejected a viral video showing a customer claiming to have bought adulterated fuel from an NNPC Retail outlet at Keffi Flyover in Nasarawa State.

The NNPCL has been entangled in controversies lately, arising from the increase in the price of petrol and the kick off of operations by the Dangote refinery.

October 30, 2024 FCCPC Warns Against Continuous Service Disruptions by Commercial Banks

FCCPC Warns Against Continuous Service Disruptions by Commercial Banks

The Federal Competition and Consumer Protection Commission (FCCPC) has warned financial institutions against continuing disruption in online banking services across Nigeria.

A statement by the commission’s Executive Vice Chairman/ Chief Executive Officer, TUNJI BELLO, said it was deeply concerned by the disruption which has hindered customers from accessing their funds, making payments, and carrying out essential transactions.

According to the commission, service providers are required by the Federal Competition and Consumer Protection Act to be transparent and communicate with customers openly and accurately.

It said during service disruption, it is essential that banks keep their customers fully informed about the causes, scope, and anticipated duration of any service issues.

October 25, 2024 Akwa Ibom Petroleum Monitoring Committee Begins Interface with Stakeholders

Akwa Ibom Petroleum Monitoring Committee Begins Interface with Stakeholders

In its avowed commitment to ensure availability of petroleum products in the State, the Petroleum Products Monitoring Committee (PPMC)has been engaging with various stakeholders in the sector.

In a recent familiarization tour, the committee met with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Eket and Virgin Forest Energy in Mbo to discuss potential collaborations.

The EKPO-led committee thanked NMDPRA for a warm reception and called for a partnership to address key challenges in the petroleum sector, including unavailability, diversion, adulteration, and under-dispensing

NMDPRA’s State Coordinator, IKECHUKWU ESEKA, welcomed the partnership and attributed product shortages to deliberate acts by Petroleum stakeholders.  He said the government initiative to establish petroleum depots in the state was laudable. He advised the committee to establish a standard laboratory to test the authenticity of petroleum derivatives.

Ekpo commended Virgin Forest Energy for building a tank farm in Mbo, which has added value to the community, and solicited partnerships to sell subsidized petroleum products to marketers.

 The Facility Manager VICTOR OMOTE appreciated the committee’s visit and highlighted challenges, including N2 billion spent on dredging due to low water capacity.

In a subsequent meeting with IPMAN, key stakeholders in the sector, EKPO sued for cooperation in curbing sector irregularities. He also reiterated the committee’s zero-tolerance policy for illegality, warning that lifting unauthorized products will not be tolerated.

In his remarks, IPMAN’s national ex-officio,Sir MICHAEL UDOFIA,praised the Governor for establishing the petroleum task force, which has significantly reduced harassment from security operatives and brought peace to the sector.

Addressing the harassment claims by marketers, ACP Kenneth Egbo, assured fair treatment and investigation of these claims.

October 22, 2024 Dangote Heads to Court to Court to Annul Import Licenses of NNPCL, Ors.

Dangote Heads to Court to Court to Annul Import Licenses of NNPCL, Ors.

Dangote Refinery has approached the Federal High Court in Abuja, seeking to annul the import licences granted to the Nigerian National Petroleum Company Limited, NNPCL, Matrix Petroleum Services Limited, and A. A. Rano.

Dangote, in the petition, informed the court that the NNPCL and the above-mentioned companies obtained the licence to import petroleum products despite the production of AGO and Jet-A1 that exceeds the current daily consumption of petroleum products in Nigeria by the Dangote Refinery.

Dangote Refinery’s case also seeks 100 Billion Naira in damages from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.

Furthermore, Dangote Refinery alleged that the NMDPRA has been improperly granting import licences to the companies for the importation of petroleum products, including AGO and jet fuel, into Nigeria.

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