As reported in our previous newsletter published on the 18th February 2022, Mr. Farouk Ahmed the Chief Executive Officer of the NMDPRA, Stated that the Nigerian Midstream and Downstream Petroleum Regulatory Authority said that for every 200 liters of contaminated product, 800 liters of good-quality gasoline would be required for blending. “All contaminated product will be re-blended to a very high standard, and it will be certified and recertified before being released to the market.”
It is now reported that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) would release more petrol into the market after receiving confirmation of products. As a result, the Marketers have appealed to the buying public to refrain from panic purchases, as some stocks of Premium Motor Spirit, also known as gasoline, have been received by its members for distribution to retail outlets and other registered, interested, and willing retailers, while much more fuel-laden vessels continue to arrive. In a statement issued in Lagos, Dame Winifred N. Akpani, Chairman of DAPPMAN, expressed sympathy with Nigerians for the current challenges caused by the importation of off-spec Premium Motor Spirit (PMS), also known as “Petrol,” into the country “From the beginning, we’ve worked diligently with regulatory authorities to prevent the off-spec fuel from being distributed further in all DAPPMAN Depots and retail outlets.
DAPPMAN has also sent versatile professionals to the Technical and Commercial Committees established by regulators (NMDPRA) and stakeholders, who have established best practices ‘Standard Operating Procedures’ to ensure not only that off-spec products are quarantined, professionally processed, tested, and certified fit for market distribution, but we are also collaborating with NNPC Ltd to ensure that appropriate inventories of ‘on-spec’ petrol are made accessible to Nigerians in all nooks and corners of the country through its subsidiary, the PPMC LTD.”DAPPMAN assures all of our valued customers and the general public that all hands are on deck, and DAPPMAN Depots and retail outlets have begun, within the security and safety limits allowed, extended hours of loading from our various depots and in all of our retail outlets until the situation returns to normal.” We are confident that, with the participation and cooperation of all parties, particularly PPMC Ltd and the regulator, NMDPRA, the current issues of purchasing gasoline from our numerous retail stores would be resolved.” According to Akpani.
With the ongoing fuel scarcity biting hard on the citizens, the intervention of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) is a welcome development as they are on track with flooding the country with petroleum products to tackle the supply shortage being experienced nationwide. On a note on price effect, it would bring some sort of sanity with prices as black-market operatives have seized the moment to sell at inflated prices. The action from DAPPMAN would in due time bring petroleum products PMS/AGO prices back to its normal status quo.
Oriental Energy, Daily Trust, All Africa.
