Fidelity bank banner UBA banner
Ifeanyi Uba’s Capital Oil moves to end fuel scarcity

By News Express on 25/05/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 3,289


Capital Oil and Gas Ltd on Sunday commenced the loading of 13 million litres of petrol from its depot in Apapa for distribution to the various states to reduce the current scarcity.

The Chairman of the company, Mr Ifeanyi Uba, told newsmen in Lagos that more than 20,000 trucks would be loaded before May 29 to boost the country’s economic activities.

He said that the company’s facilities had the capacity to load 13 million litres of the product within the period.

“This comes to approximately 500 trucks of petroleum products on daily basis; with this, it is our belief that once again our citizens will begin to smile and 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,” he said.

Uba said that the company on May 16 received a message ordering the suspension of loading activities in all depots from May 18.

He said that the company realised that the directive was the result of funds owed to transporters by oil marketers who in turn are owed by the Federal Government.

The chairman said that the development had resulted in immense hardship for the people.

“We believe that a better solution can be pursued to solve this problem in a way that does not adversely affect our dear citizens.

“We also call on striking bodies to call off the strike and 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 had been ordered open. 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,” Uba added.

He lauded NNPC and PPMC for their steadfastness in ensuring the availability of petroleum products.

He said that the current PPMC stock level in the company’s storage tanks and buffer stock on vessels awaiting discharge were capable of meeting the nation’s demand for 15 days.

“We wish to emphasise 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, Lagos State Government and other stakeholders in the affected area.

“This will optimally utilise our truck park which has the capacity to accommodate 1,100 trucks at a 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 the demand.” (NAN)

•Photo shows Ifeanyi Uba.

Source News Express

Posted 25/05/2015 05:02:12 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Security: Osinbajo commends role of traditional rulers

Cut the risk: how to diversify your investments...

Dickson to Ijaw youths: Lead struggle to end...

Dangote retains position as Africa’s richest man

We have no hand in police takeover of...

APC governors shun Jonathan daughter’s wedding

Man who masterminded kidnap of CBN Governor’s wife...

Cameroon fires coach for failing to lead Indomitable...

Plane crash in South Africa injures 20

ANN heavyweight, Olawepo pulls out of presidential race...

Eid-el-Maulud: Amosun calls for value reorientation

Dickson demands more oil blocs for oil-producing areas...

 

Latest News 40 killed in Kaduna Nnamdi Kanu’s reappearance, the beginning of Biafra’s independence — IPOB Be wary of Agatu girls, LG boss warns NAF personnel Unpaid Pensions: 900 Nigeria Airways retirees die Atiku’s Campaign Council: Umahi denies rejecting appointment Fayose won't be intimidated, ready to defend himself in court — Aide Viral Video: NANS gives Buhari 7-day ultimatum to probe Ganduje Anambra Building Collapse: Last trapped victim dies after rescue Lebanese jailed, forfeits $52,550, €32,250 to FG Why Abia women prefer fairly-used underwear Osinbajo declares Bayelsa flood a major disaster •Dickson calls for collaboration to resettle victims Alleged 2.1bn Fraud: Charge Dasuki for money laundering not me, Dokpesi tells court

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,640 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,904 views) Shameless Genevieve Nnaji exposes breasts in public (315,243 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (258,004 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,808 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,594 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,373 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,827 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,590 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,052 views) Lagos plane crash: Journalist releases victims’ names (161,704 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,469 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (69) Business & Economy (3,696) Business Verdict (52) Columnists (948) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (660) Global Business Monitor (304) International (2,547) Interview (165) Live Commentary (28) Love Matters (145) News (39,754) Opinion (1,125) Pidgin (13) Politics (7,304) Religion (881) Sports (1,733) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement