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Home Sectors Energy

FG orders investigation into importation of adulterated fuel, may compensate those affected

Those involved will be identified after investigations have been concluded.

Chike Olisah by Chike Olisah
February 9, 2022
in Energy
Gas is the new petrol - FG to Nigerian car owners, intervention fund, NCDMB, output cut, Petroleum Industry Bill to be passed by mid-2020, says Sylva, FG discovers crude oil in north, says there’s more , OPEC, non-OPEC countries to meet as Saudi, Russia price war affects Nigeria’s budget, FG considers fuel price reduction, OPEC deal: Nigeria to generate additional $2.8 billion revenue as FG reacts
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The Federal Government has moved to perform a major investigation to unravel the circumstance surrounding the importation and supply of adulterated fuel which contains unsafe quantity of methanol in the country.

The adulterated fuel which was reported some days ago has caused huge damage to the engine of some car owners who were unfortunate to have used these products.

This disclosure was made by the Minister of State for Petroleum, Timipre Sylva, on Wednesday in Abuja, while briefing State House correspondents after the weekly Federal Executive Council (FEC) meeting which was presided by President Muhammadu Buhari.

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What the Minister of State for Petroleum Resources is saying

Sylva said the federal government had initiated moves to investigate the supply and circulation of adulterated petrol to the country adding that the purpose of the probe is to get to the bottom of the matter.

Although the minister was unable to reveal the identities of the companies involved in the importation of this adulterated fuel, he said that their names will be made known after investigations have been concluded.

He, however, cautioned against drawing conclusions before the investigation was completed.

He said, “There will be a major investigation to unravel everything. We need to get to the bottom of it before we can come back to tell you what will happen to the culprits.’’

When asked if companies found culpable will be blacklisted, Sylva responded that the government is not in a rush to mete out any measures until the actual cause has been decoded.

On what will happen to motorists who had their cars damaged after buying the adulterated fuel, Sylva said their situation will be put into consideration, hinting of possibly compensating those whose cars were adversely affected by the bad fuel.

The Minister said, “We know that some people’s vehicles must have been damaged, that is also going to the taken into consideration in dealing with the situation.’’

In case you missed it

Recall that the Federal Government through the Nigerian Midstream and Downstream Petroleum Regulatory Agency had attributed the fuel scarcity in Lagos and Abuja to the withdrawal of bad fuel as those supplies contained quantity above Nigeria’s specification, thereby leading shut down of filling stations and long queues at the few ones that were selling.


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Tags: FeaturedFuel scarcityTimipre Sylva
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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