▪︎ Says it has 106m litres in stock
In order to clear the lingering fuel queues and ensure energy security through efficient distribution of petroleum products, Ijegun-Egba Owners and Operators’ Association has committed to load and supply forty trucks of Premium Motor Spirit (PMS), otherwise called petrol, to the Federal capital Territory (FCT) daily, beginning from Monday, March 21, 2022 all through the week and beyond.
The association also announced that its members collectively had 106 million litres of PMS in stock, which it had agreed to load and truck accordingly.
These were some of the resolutions reached at an emergency meeting of the owners/chief executive officers of the association held on Sunday, March 20, 2022 in Lagos. A communique of the meeting was signed by the chairman of the association, Mr Adebowale Olujimi and the association’s secretary, Eshiet E. Eshie.
The communique listed other members of the association at the meeting to include Alhaji Auwalu Abdullahi Rano – GMD, A.A.Rano Ltd; Engr Johnson Oboh Peters – GMD, Menj Oil Ltd; Chief Peter Chinedu – GMD, Chipet Oil Ltd; Dr Gabriel Ogbechie – GMD, Rainoil Ltd; Mrs Judith Ogbara – CEO, Stallionaire Ltd; Mr Olutayo Awogboro – MD, Aipec Oil Ltd; and, Princess Adedoyin – MD, First Royal Oil Ltd.
The association specifically resolved that: “in line with our transparent posture, we wish to put it on record that we collectively have approximately 106 Million litres in stock and will load and truck same accordingly” and “that all Tankfarms within the Ijegun-Egba axis are committed to load and supply 40 trucks of PMS per day to Abuja, FCT to address and augment energy supply and energy security in Federal Capital Territory.”
The association sent copies of the communique to the GMD, NNPC Ltd, AC, NMDPRA, DG, DSS, Chairman, PTD and President, NUPENG.
The meeting also resolved that: “The Owners/CEOs, having considered the energy situation in the country, committed themselves as credible business men and women to work assiduously with the Federal Government and their Agencies to ensure effective and efficient distribution of petroleum products in the nation. The Meeting commended the effort of the Government in addressing the energy situation in the country, especially in making PMS available despite the volatility of same globally.
“That in line with our collective corporate values, all members of Ijegun-Egba Tankfarm Owners will continue to maintain and ensure full compliance with government regulated and stipulated price of PMS, and as such no Tankfarm should sell or price PMS above the Government regulated price. And that any Tankfarm within the Ijegun-Egba axis that defaults or fails or neglects to operate in full compliance with the regulated price should be sanctioned accordingly.
“To underscore transparency and our good faith in ensuring effective product distribution across the Nation, we are committed to work with and cooperate with all Government Agencies and Security Agencies regarding our members’ operational plans, loading plans and pricing. We shall avail the regulatory agencies our books for scrutiny whenever same is required.
“We also state that we are collectively expecting consignments in the next few days, and will load and truck to ensure energy stability and security.”
The association said “that to further complement Government’s efforts, plans and policies we commit ourselves to work 24 hours to ensure seamless loading, trucking and distribution of petroleum products, especially PMS from the Ijegun-Egba axis.
“That Tankfarms will run and continue to run their operations transparently, openly and will account for their operational plans, loading and pricing to the Government at all times.”
It stated that “The Meeting took note of Government’s effort to address the volatility in product distribution and agreed that any Tankfarm that sabotages the government’s plans, efforts or policies by pricing above the government regulated price should be held responsible, accountable and sanction accordingly.”
The association added that: “To ensure and guarantee effective implementation of the agreed resolutions, the Meeting mandated the Chairman, either on his own or through officers of the Association or agents to monitor the operational activities, loading and pricing by the Tankfarms. The Chairman was further mandated to exercise this oversight function in conjunction with the regulatory or security agencies.”
According to the two-page communique, ““The members restated their strong support to every government’s policy in making PMS and other petroleum products available to Nigerians.”