Nigeria Welcomes Vessels with 40.76m Litres of Petrol, Others

The Nigerian Ports Authority (NPA) announced today the arrival of two vessels carrying a combined total of 40,766,400 litres of Premium Motor Spirit (PMS), commonly known as petrol, at the Tincan Island Ports in Lagos.

This significant shipment arrives as the country grapples with ongoing fuel supply challenges.

According to the NPA’s “Daily Shipping Position,” a total of ten vessels, laden with various commodities, are expected to dock at the port from November 1 to November 8, 2024. Among these, three vessels will be delivering vehicles, with two specifically bringing in 600 units of used vehicles and one vessel carrying an additional 600 units of new vehicles.

“The arrival of these vessels is crucial in addressing the current supply issues we are facing in the petroleum sector,” an NPA spokesperson stated. The remaining vessels will transport diverse consignments, including diesel, containers, and bulk wheat.

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These incoming vessels are scheduled to berth at several terminals, including Kirikiri Lighter Terminal and Tincan Island Container Terminal, enhancing the port’s operational capacity during this critical period.

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This delivery comes as marketers plan to sell petrol below the current market price of N1,028 per litre, in an effort to alleviate rising fuel costs for consumers.

The recent disruptions in supply have prompted discussions about regulatory changes, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) stating that it can only lift petrol with the approval of the Nigerian National Petroleum Corporation (NNPC).