Vessels Berth With N38.8bn Fuel In Lagos, Delta

Amid the increase in fuel pump price, no fewer than 20 vessels are jostling for space to discharge 258,500 tonnes of diesels and premium motor spirit (PMS) valued at N38.8 billion at the country’s three seaports. The pump price of PMS has been increased to N150 per litre, while the landing price stands at N124.84 per litre.

Twelve of the vessels have already arrived at the port anchorages, while eight arrived last the weekend. Findings revealed that 155,000 tonnes of the petroleum products would be discharged at the Kirikiri Lighter Terminal (KLT), 88,500 at Warri port jetties and 15,000 tonnes at Calabar Port. Data from the Nigerian Ports Authority (NPA)’s shipping position revealed that KLT is expecting 82,000 tonnes of PMS from six ships and 73,000 diesel from another six vessels. Expected at the terminals with PMS are Kingis laden with 15,000tonnes; Sea Horse, 15,000 tonnes; Mosunmola, 13,000 tonnes; Tornado, 15,000 tonnes; Vardar, 15,000 tonnes and Alexander J, 9,000 tonnes.

Also laden with diesels are Adebomi 3 with 15,000 tonnes; Safesea Neha III, 6,000 tonnes; Weymouth, 10,000 tonnes; Bora, 16,000 tonnes; Wesley, 6,000 tonnes and Sl Aremu , 20,000 tonnes.

They include Matrix S. Ilu, 15,000 tonnes; Matrix Asa, 15,000 tonnes; St Ilhaam, 15,000 tonnes; Notus, 7,500 tonnes; Matrix Pride,15,000 tonnes, while Calaba Port will take delivery of 15,000 tonnes petrol from St Walga. Despite the surge in import, marketers and associations were divided as to the most appropriate price for the product, with most selling between N150 and N160 per litre, depending on the state. It was learnt that while marketers in Abuja sold the fuel at N150, those in Kebbi State sold at N155, in some fuel stations.

Meanwhile, the Minister of State for Petroleum Resources, Timipre Sylva, stated that government would modulate the pump monthly through market realities, stressing that the move signalled the end of subsidy regime. Already, the Petroleum Products Pricing Regulatory Agency (PPPRA), which is responsible for modulating the price, had issued a monthly guideline from March to July, but had failed to provide the guideline for August, leaving some marketers to effect changes indiscriminately.

It was gathered that the Kano branch of Independent Petroleum Marketers Association of Nigeria (IPMAN) had directed members to sell at N150 per litre as Petroleum Products Marketing Company (PPMC) increased the wholesale price to N138.62. However in July, the approved PPPRA price differed from N140.80 to N143.80 per litre when the landing cost with wholesale charges stood at N124.84.

SOURCE: newtelegraphng.com