Capital Oil and Gas Industries Limited, said it is
releasing about 13 million litres on Sunday night, approximately 400 trucks of
petroleum products including premium motor spirit, popularly called petrol, to
ease the scourge of the endemic fuel scarcity that Nigeria had been plunged
into. Additional 53 million litres will also be released in a few days, making
a total of 70 million litres from Capital oil.
The move has therefore, broken the ranks of oil marketers
and depot operators, who have refused to import any more products until their outstanding
subsidy claims of over N200billion is paid by the Federal Government.
Read full statement below
On Saturday 16th May 2015, we received an SMS ordering
the suspension of loading activities in all depots from Monday 18th May 2015.
We later realized that this directive was as a result of unpaid funds owed to
transporters by oil marketers who in turn are owed by the Federal Government.
This development has resulted in immense hardship to our fellow country men and
women. We believe that a better solution can be pursued towards solving this
problem in a way that does not adversely affect our dear citizens.
Capital Oil and Gas has watched with so much pain, the
suffering and hardship our citizens have been subjected to as a result of
scarcity of petrol, diesel, aviation fuel and house hold kerosene. We are
deeply pained to hear that hospitals cannot perform surgeries, laboratories are
unable to carry out much needed tests especially for emergency patients leaving
such patients at risk of dying, radio stations are shutting down, communication
is being affected as MTN and other telecommunications company have announced an
impending shut down while homes, offices and key facilities nationwide are
experiencing blackouts. In some parts of the country, petrol is already selling
at an all-time high of N1,000 per litre. Our citizens have left their homes and
are now sleeping in fuel stations, facing the risk of robbery attacks and other
attendant risk.
In a few days’ time, a new government headed by General
Muhamadu Buhari will be sworn in. Apart from our citizens being unable to watch
the handover on television and unavailability of transportation for attendees
of this historic handover, the resulting chaos from this scarcity may shutdown
the Nation and sabotage the efforts Nigeria has made to attain greater heights.
We are constrained at this point and have decided that
two wrongs cannot make a right. We will not be part of this sabotage against
our fatherland. Therefore from this minute, we shall take the risk of opening
our facilities and commence swift loading and distribution of products
Nationwide.
Our facility has the capacity to load over 13 million
litres of product before dawn. This comes to approximately 400 trucks of
petroleum products. With this act, it is our belief that once again our
citizens will begin to smile, return to normal family and work life. We call on
other petroleum marketers to follow suit and save our Nation from this
impending economic and social crisis. This is a period that requires patriotism
and service to fatherland. Let’s join hands to help our fellow citizens and
save Nigeria. We also call on striking bodies to call off the strike action.
Let us work together for the betterment of our people.
As we brief you this moment, our truck park, port
reception facilities and our depot complex have been ordered opened. We are
ordering and resuming discharge of products from vessels at our berths. We have
ordered our trucks to commence loading of products and move overnight to every state
of the Federation.
Most importantly, we wish to use this medium to thank
NNPC and PPMC for their steadfastness in ensuring the availability of petroleum
products. Current PPMC stock level in our storage tanks and buffer stock on
vessels awaiting discharge at our jetty is capable of meeting the Nation’s need
for 15 days.
Furthermore, we wish to emphasis that we have a total
solution to the traffic menace on the oshodi apapa expressway. In the coming
weeks, we hope to engage the Federal Government (Federal Ministry of
Transport), Lagos State Government and other stakeholders in the affected area,
to optimally utilize our truck park facilities which has the capacity to
accommodate over 1,100 trucks per time and 5,000 on a shift basis.
Capital Oil and Gas continues to appeal to Nigerians to
accept and support deregulation as this will curb corruption, enhance
competition, lead to reduction of pump price for petroleum products and ensure
constant supply to meet Nigeria’s demand.
Long live the Federal Republic of Nigeria.
Dr. Patrick Ifeanyi Ubah
Managing Director/CEO
Capital Oil and Gas Industries Limited
Lagos, Sunday 24th May 2015.
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