Seven ships transporting imported Premium Motor Spirit, commonly known as petrol, are anticipated to arrive at the ports situated along the country's coastlines from Monday, March 17, through Sunday, March 23. Saturday PUNCH reports.
A document acquired from the Nigerian Port Authority on Thursday reveals that these ships, transporting 115,000 metric tons equivalent to 154.22 million liters of Premium Motor Spirit (PMS), will arrive at three ports across the country to boost national fuel distribution.
The most recent development comes after an exclusive report by The PUNCH , revealing that the landed cost of imported PMS decreased to ₦797 per liter.
This situation arises as well due to the halt in the sale of petroleum products in Naira by the Dangote Petroleum Refinery after the renegotiation of the Naira-for-Crude agreement with the Nigerian National Petroleum Corporation was put on hold.
Local crude oil processors claimed that the stoppage in naira-denominated crude supply was merely another tactic aimed at hindering the operation of the Dangote Refinery and reinstating the complete importation of refined petroleum products.
Eche Idoko, the National Publicity Secretary for the Nigerian Crude Oil Refiners Association, stated that halting the agreement would undermine the work done by all parties involved in pursuit of national energy security.
He mentioned that certain individuals were displeased with the ongoing decrease in petroleum prices due to the Dangote refinery's operations and resorted to monopolistic arguments to reinstate imports as a viable option.
Indeed, the ongoing imports of refined goods have continued unabated even as local production capabilities enhance.
Remember that the Nigerian Midstream and Downstream Petroleum Regulatory Authority recently mentioned that the country’s three functioning refineries supply less than half of Nigeria’s daily gasoline demand, with the remaining gap covered by imports.
The examination conducted by NPA indicated that the goods arrived at the Tincan port in Lagos, the Lekki Deep Sea Port also in Lagos, as well as the Calabar port located in Cross River State.
The report also disclosed that the Dangote refinery brought in 654,766 metric tons of crude oil during this timeframe.
On Monday, March 17, 2025, at 4:03 PM, the initial delivery with 20,000 metric tons of Premium Motor Spirit (PMS) destined for West African Port Services arrived at the Dangote terminal.
On the same day, each of the two ships carrying 20,000 metric tons moored at the Tincan and Calabar ports.
Following this, a 20,000-metric ton Watson-class ship arrived on Thursday, March 20th, at 15:18 hours. The vessel docked at the Ecomarine terminal and was managed by a Kach maritime representative.
Likewise, the Binta Saleh vessel was set to dock at the Tincan port in Lagos with 5,000 metric tons of imported gasoline on Friday, March 21 around midnight.
On March 22nd,Saturday,at 11:06 AM,a ship loaded with 15,000 metric tons of fuel is scheduled to arrive at the Calabar port. The cargo is being handled by Peak Shipping as their representative.
At the same harbor, a ship with 15,000 metric tons of fuel is scheduled to reach the Eco marine terminal on Sunday at 5:10 PM. Consequently, these seven ships ought to deliver a total of 115,000 metric tons.
Based on the conversion rate of 1,341 liters per metric tonne, this means that the retailers are importing approximately 154.22 million liters of gasoline.
In the meantime, depot owners have kept up with increasing the loading costs for petrol and various refined petroleum products at their facilities.
A review of information gathered by our reporter on petrol pricing changes observed at various loading facilities on Thursday indicates that the Rainoil Depot raised its rate from N835 to N860 per liter. Additionally, although the MEN depot did not record any sales the prior day, they also adjusted their price to N860 per liter.
Pinnacle Depot adjusted its pricing to N860 per litre from N835, whereas Aiteo and Nipco revised theirs to N856 and N860 per litre, respectively, up from N835.
Provided by SyndiGate Media Inc. Syndigate.info ).
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