Fynefield Petroleum FZE’s 40 million-litre capacity ultra-modern petroleum products depot has been inaugurated to boost the supply of petroleum products in the country.
The governors of Cross River and Delta states initiated the petroleum products depot located at the Calabar Free Trade Zone in Cross River State and built at the cost of N3 billion, to cushion the effect of fuel scarcity in the region.
Fynefield Petroleum disclosed that the facilities, which was built to international standards, have a combined capacity for 40.7 million litres of petroleum products, of which petrol, also called premium motor spirit (PMS) is 20.41 million litres, while the storage capacity for dual purpose kerosene (DPK) or simply called kerosene is 10.157 million litres and that of automotive gas oil (AGO) generally called diesel is 10.164 million litres.
Governor Ben Ayade of Cross River State commended the promoters of Fynefield Petroleum FZE for the huge investment which he described as a significant milestone and a big boost to the economic and social development of Cross River State and Nigeria.
He said the facilities would provide direct and indirect employment to tens of Nigerians as well as enhance speedy distribution of products across the country.
Ayade, while thanking Fynefield Petroleum FZE management for choosing Cross River State as the location for the 40-million litre capacity petroleum products depot, said: “We are very glad you chose to make this huge investment in Calabar. We can assure you that it is a very good decision.”
Gabriel Ogbechie, managing director, Fynefield Petroleum FZE, revealed that the depot was built to enrich the distribution chain of petroleum products in the country.
He said the depot will, in addition to Cross River State, serve Akwa Ibom, Abia, Imo, Taraba, Plateau and some other states in the North-east as well as other northern parts of the country.
He added that the investment which cost over N3 billion was the company’s contribution to the economic development of Cross River State in particular and Nigeria at large.
“This facility will provide direct employment to over 50 individuals and hundreds of indirect jobs because tank trucks will come to the facility from all over the country to lift petroleum products,” he stated.
On challenges being experienced in the distribution of products, Ogbechie said poor road network was the most critical while urging both the state and federal governments to urgently attend to road infrastructure challenge especially the Calabar–Ikot Ekpene Road and Calabar–Ikom–Ogoja Road which link Cross River with the northern parts of the country.
He also said due to the low draft of the Calabar River channel, which is 6.4 metres; they have to load 15,000 metric tonnes of products into vessels as against the 30,000 tonnes capacity thereby increasing operational cost.

Maureen Nzeogu
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