The era when some depot owners in the downstream sub sector of the oil and gas industry operate without filling stations may soon be over. As a matter of fact, the Department of Petroleum Resources (DPR) has said depot owners without filling stations would lose their licences when the ongoing review of the downstream operating regulations is completed.
“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 Director, DPR, Mordecai Danteni Baba-Ladan, said this during the official lunching of the Northwest Petroleum and Gas Company Limited Mega Station in Ajah area of Lagos state. The DPR Boss insists that the department would no longer licence depot operators that does not operate a filling station.
Baba-Ladan who was represented by the Head Downstream Operations of DPR, Usman Ndanusa had the support of Governor of Lagos State, Akinwunmi Ambode who urged Nigerians to invest in the country and stop taking moneys abroad for investment at the expense of their motherland while calling on investors in the oil sector to look inward and grow the nation’s economy together.
According to the Managing Director, and Chief Executive Officer, Northwest Petroleum, Mrs Winifred Akpani, “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 echoing the company’s commitment to selling products at official pump prices.