Petroleum depot operators face stricter conditions for licence

Northwest boost fuel supply with new mega station
It will definitely no longer be business as usual when the Department of Petroleum Resources (DPR) finalises its review of the downstream operating regulations, as depot owners without filling stations may lose their licences.

Specifically, the industry watchdog recently confirmed its readiness to sanitise the downstream petroleum sector and particularly phase out the fuel traders who are distorting the distribution chain.

The Director, DPR, Mordecai Danteni Baba Ladan, who disclosed this during the official lunching of the Northwest Petroleum and Gas Company Limited Mega Station in Ajah area of Lagos, said the department would no longer licence depot operators that does not operate a filling stations.

Ladan, who was represented by the Head Downsteram Operations, DPR, Usman Ndanusa, said the DPR is presently reviewing the regulations and would never tolerate any marketer that violates the laws.

“What we intend to do now is that you will not build depots without telling us how many filling stations you have in the country. We will soon stop a situation whereby people build depots and do not have filling stations. We are reviewing the law to ensure that all depot owners have facility to distribute. We will no longer encourage traders.

The Governor of Lagos State, Akinwunmi Ambode, enjoined Nigerians to invest in the country and stop taking moneys abroad for investment at the expense of their motherland.

Ambode, who was represented by the Commission for the Environment, Samuel Babatunde Adejare, who applauded Southwest Petroleum for the initiative, said, “We should look inward and grow this economy together.”

The Managing Director, and Chief Executive Officer, Northwest Petroleum, Mrs Winifred Akpani, said the company is committed to selling products at official pump prices.

“We are fully committed to ensuring the availability of petroleum products to the public strictly at government regulated prices. Consequently, we have advanced from being bulk importer of petroleum product to being a mega retailer and have embarked on the construction of more mega filling stations across the country. Our target is to have at least five in each major city of the federation,” she said.