No gas in our depots – DAPPMA



    No gas in our depots – DAPPMA



    By Edith Ike-Eboh

    Depot and Petroleum Products Marketers Association, (DAPPMA) on Tuesday mentioned none of its members have gas of their depots and tanks nationwide.

    DAPPMA, disclosed this  in a press release signed by its Executive Secretary, Mr. Olufemi Adewole.

    He mentioned  “While we can not affirm or dispute NNPC’S claims of getting adequate product inventory, we will affirm that the merchandise will not be in our tanks and as such can’t be distributed.

    “ If the merchandise are offshore, then certainly, it can’t be thought of to be obtainable to Nigerians.

    He added that the present state of affairs had dampened hope for a speedy decision of the gas disaster which is threatening the financial material of the nation.

    “Again, that is opposite to claims by the Nigerian National Petroleum Corporation, NNPC, and its downstream subsidiary, the Petroleum Products Marketing Company, PPMC, that gas vessels are discharging the commodity in ports throughout the nation each day,’’ he mentioned

    Adewole within the assertion  insisted that its members’ depots had been  presently empty, noting nonetheless, that if the PPMC, may  present it with Premium Motor Spirit, often known as petrol, its members had been able to undertake 24 hours loading and truck-out.

    “NNPC imports and distributes by way of DAPPMA, Major Oil Marketers Association of Nigeria, MOMAN, and Independent Petroleum Marketers Association of Nigeria, IPMAN.

    “Our members pay PPMC/NNPC in advance for petroleum products, and fully paid up PMS orders that have neither been programmed nor loaded is in excess of 500,000 metric tonnes, about 800 million litres, as at today, and enough to meet the nation’s needs for 19 days at a daily estimated consumption of 35 million litres,” he mentioned.

    Adewole blamed the endless gas disaster on the challenges within the Direct Sales Direct Purchase,( DSDP), scheme, rising value of the commodity within the worldwide market and the excessive rates of interest charged by banks within the nation.

    “We all know that we presently run a set value regime of N145 per litre for PMS with none recourse to subsidy claims, nonetheless, we additionally don’t have any management on the worldwide value of crude oil.

    “We understand that the NNPC meets this demand largely through its DSDP framework; however, due to price challenges on the DSDP platform, some participants in the scheme failed to meet their supply quota of refined petroleum products, especially PMS, to NNPC. This is the main reason for this scarcity.”He mentioned

    Adewole added that since Hurricane Katrina, the worldwide value of PMS had not dropped beneath $600 per metric tonne, whereas the change charge used and the rate of interest charged by banks are N306 to a greenback and 25 per cent respectively.

    He famous that anytime the NNPC assumes the function of sole importer, there are problems with distribution, as a result of it’s entrepreneurs who personal 80 per cent of the useful receptive amenities and stores in Nigeria.

    Adewole disclosed that oil entrepreneurs stay dedication to the progress of the nations and its citizenry, stating that therein lies its profitability and fulfilment.

    He mentioned, “We, petroleum merchandise entrepreneurs do empathise with all Nigerians who’re going by way of difficulties presently, spending hours on gas queues due to the present gas shortage as a consequence of no fault of yours.

    “Sadly, some people have blamed marketers for hoarders fuel. Unfortunately, this is so far from the truth. Hoarding fuel is regarded as economic sabotage and we assure all Nigerians that our members are not involved in such illicit acts.”