HomeBUSINESSTank Farm Owners Set To Market Petrol At N172 From Monday

Tank Farm Owners Set To Market Petrol At N172 From Monday

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Ijegun-Egba Tankfarm Owners, Operators to Lagos Government: Our members ...

There is some cherry news in a gloomy Nigeria buffeted by a lingering fuel scarcity and paucity of cash, as the Ijegun-Egba Tank Farm Owners and Operators resolve to sell Premium Motor Spirit (PMS) to marketers at ex depot price of N172 per litre, beginning from Monday.

This is to ensure that filling stations across the country sell the product commonly known as petrol at the government approved price and to reduce the hardship faced by Nigeria in accessing it.

In a communiqué by its Chairman, Mr. Adebowale Olujimi, the group explained that the members are working with the Nigerian National Petroleum Company Limited (NNPCL) to achieve an uninterrupted distribution by Monday of the 127 million litres of its February allocation.

“We will utilise our storage networks to supply and distribute petroleum products to various part of the country to ensure that Nigerians have Premium Motor Spirit (Petrol) for their daily operations. We are also committed to maintaining our transparency in this respect.

“That our tank farms will continue to sell and load at the government regulated price of N172 ex depot to all marketers. All our members’ retail outlets across the nation will continue to sell petroleum products at the government approved price.

“We consider ourselves as an integral part of petroleum product supply chain in ensuring product supply, energy stability and energy security. We have played and will continue to play significant roles in the supply and distribution of petroleum products across the nation.

“Our members are committed to ensuring efficient petroleum product distribution, and by extension ensuring energy security in line with the Federal Government’s policies and regulations,” Olujimi stated.

The tank farm owners further reiterated their resolve to contribute to the national economy, energy security and play significant roles in the supply and distribution of petroleum products across the nation to ameliorate adverse effects the current challenges have on business and commercial activities.

The group also restated its members’ commitment to continue to contribute to government’s effort in building a robust business environment to stimulate economic growth, especially in making petrol available to Nigerians.

The group is an umbrella organisation of all the oil companies currently engaged in the operation of petroleum storage tank farms and facilities at Ijegun-Egba, along the Ojo Creek Channel, Satellite Town, Lagos, South-West Nigeria.

The companies include A.A. Rano Nigeria Limited, JGold Nigeria Limited, Chipet International Limited, Emadeb Energy Services Limited, First Royal Oil Nigeria Limited, MAO Petroleum Company Limited, Menj Oil Limited, Ocean Pride Energy Services Limited, Stallionaire Nigeria Limited, Wosbab Energy Solutions Limited and Rainoil Limited.

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