Capital Oil Moves To End Fuel Scarcity, Loads Over 13 Million Litres

Capital Oil and Gas Limited have commenced loading of over 13 million litres of petrol from its depot in Apapa to various states of the nation to avert scarcity.

Mr Ifeayin Ubah, Chairman of the company disclosed to the newsmen in Lagos that over 20,000 trucks has beenpencilled down for loading before May 29 to boost economic activities of the nation.
According to him, our facility has the capacity to load over 13 million litres of product before of today operation.



“ This comes to approximately about 500 trucks of petroleum products on day basis, with this act, it is our belief that once again our citizens will begin to smile, return to normal family and work life.
“We call on other petroleum marketers to follow suit and save our nation from this impending economic and social crisis,’ he said.

Ubah said that the company on May 16 received an SMS ordering the suspension of loading activities in all depots from Monday, May18.

He said that the company later realized that this directive was as a result of unpaid funds owed to transporters by oilmarketers who in turn are owed by the Federal Government.

The chairman said that this development has resulted in immense hardship to our fellow country men and women.

“ We believe that a better solution can be pursued towards solving this problem in a way that does not adversely affect our dear citizens.

“We also call on striking bodies to call off the strike action, let us work together for the betterment of our people.

“ As we brief you this moment, our truck park, port reception facilities and our depot complex have been orderedopened, we are ordering and resuming discharge of products from vessels at our berths.
“We have ordered our trucks to commence loading of products and move overnight to every state of the Federation,’’Ubah added

He lauded NNPC and PPMC for their steadfastness in ensuring the availability of petroleum products.
He said that current PPMC stock level in our storage tanks and buffer stock on vessels awaiting discharge at our jettyis capable of meeting the nation’s need for 15 days.
“We wish to emphasised that we have a total solution to the traffic menace on the Oshodi Apapa expressway.

“In the coming weeks, we hope to engage the Federal Government (Federal Ministry of Transport), Lagos State Government and other stakeholders in the affected area.

“To optimally utilize our truck park facility which has the capacity to accommodate over 1,100 trucks per time and 5,000 on a shift basis.

“Capital Oil and Gas continues to appeal to Nigerians to accept and support deregulation as this will curb corruption, enhance competition, lead to reduction of pump price for petroleum products and ensure constant supply to meet Nigeria’s demand.