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    Global Governance Expert Calls for UN Reform

    Global Governance Expert Calls for UN Reform

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    After Daily Episode Report, Kaduna Health Commissioner Visits Rigasa Hospital, Assures Reforms

    floodwaters

    Niger Flood: Missing 7-Year-Old Boy Found Dead After Three Days

    wedding-bound travelers

    Killings: No Delegation from Plateau Visits Zaria for Condolence- Zazzau Emir

    Christian Clergy in Northern Nigeria Congratulate Muslims on Islamic New Year 2025

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    Deadly Confrontation Between Turji’s Gangs, Zamfara Civilian Forces Leaves Over 100 Dead

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    EFCC Nabs 9 Suspected Illegal Miners In Mokwa

    Billions for Few, Crumbling Schools for Many: A Deep Dive into Kano’s Education Crisis Where Foreign Scholarships Undermine State Needs

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    Mama Boko Haram

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Fuel Depots In Nigeria Under Distress, Says DAPMAN

The Chairman of DAPPMAN and Managing Director, North-West Petroleum and Gas Company Limited, Mrs Winifred Akpani, said that the control of the sector by the Nigerian National Petroleum Corporation has meant private depot operators have very little margins with which to invest.

by Abubakar Ismail Kankara
May 25, 2020
in Business
0
Fuel Depots In Nigeria Under Distress, Says DAPMAN
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he Depot and Petroleum Marketers Association of Nigeria has said that most privately owned fuel distributors in the country are either not operational or battling with the Asset Management Company of Nigeria.

The Chairman of DAPPMAN and Managing Director, North-West Petroleum and Gas Company Limited, Mrs Winifred Akpani, said that the control of the sector by the Nigerian National Petroleum Corporation has meant private depot operators have very little margins with which to invest.

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“A lot of them are in one problem or the other with banks and the Asset Management Corporation of Nigeria,” PUNCH quoted her as saying.

“In the past few years, there were quite a lot of investment in depot construction across Nigeria because opportunities presented themselves for people to make such investment.”

Akpani said 70 more than 70 per cent of depot owners in the country have gone under, stressing that the low profit margins has made it for operators to broaden the scope of their business.

“Subsequently, as government has continually overtaken the whole operations in the downstream sector, to a large extent, it has been very difficult for a lot of the depot owners to survive, especially those who had not made further investment into other areas of the sector.

“What has happened over the years is that with the NNPC taking over almost 100 per cent of imports until recently, and then fixing very low margins for operators who take these products for distribution, a lot of the depot operators have not been able to continue to operate.

“Some operators are actually under receivership, and as at the last count, we have less than 30 per cent of operators still in business. With that, it becomes impossible for any expansion or new investments.”

">
Abubakar Ismail Kankara

Abubakar Ismail Kankara

Abubakar Ismail Kankara is an accomplished investigative journalist, fact-checker, seasoned storyteller, PR professional, skilled video editor, website designer, and proficient in SEO/Social Media Management. Additionally, he is a 2023 Govspend Media Fellow and a 2024 UDEME Accountability Fellow.

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