Fuel Scarcity May Worsen Except……. Ihenacho

Chairman of Integrated oil and gas, Capt. Emmanuel Ihenacho has advised government to speed up the process of fuel subsidy claim to enable marketers embark on product import and relieve the system of the current supply bottleneck.
Capt. Ihenacho said that significant number of marketers in the import circle are no longer importing as a result of the huge debt.
In a telephone interview with our correspondent in Lagos yesterday, he reiterated commitment of marketers to ensure steady supply but pointed out that without payment for products already imported, marketers will not be able to access loan from banks.
He said current scarcity is not far from the fact that marketers have not been paid and are facing increasing interest from loan obtained from the banks.
“I want to make this point clear, the subsidy program of government is not a free window.
We take loan from the bank to import the products, and if you look at the arrangement, we import for instance at N146 per litre and we are compelled to sell below import rate.
Now money obtained from the banks is attracting accumulated interest and if you have not paid the outstanding they will not give you fresh fund” he explained.
“So I can say that the unpaid subsidy claim is partly responsible for the current scarcity” he said.
Meanwhile, the  Department of Petroleum(DPR) has raised cocern  over the illegal sales of fuel and kerosene from licensed filling stations in the country  at night or odd hours of the day.
The industry regulator observed that the intention was to cheat unsuspecting customers.
DPR also said in its latest circular obtained by Leadership that some unscrupulous filling station owners are evading inspection of their station by DPR’s monitoring officials because they dispense petroleum products above the pump price and are under-dispensing same to customers.
According to the circular, The activity  is both illegal and criminal and therefore all licensees of  such stations are warned that henceforth,DPR would hold licence of any station found to be using their facilities for illegal sale of Premium Motors Spirit(PMS) and  kerosene responsible.
The public is therefore advised against patronizing such facilities,as doing so would be at their own risk.
The agency also  raised the alarm over the construction of unapproved  filling stations in the thirty six states of the country,including Abuja.
It said  unapproved and illegally constructed petroleum filling stations are used in perpetrating other illegal and criminal activities such as the sale of adulterated petroleum products and under-dispensing  quantities.

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