Monday, May 25, 2015

Capital Oil breaks ranks, to release 70m litres to Ease the the Fuel Scarcity Situation in Nigeria

Capital Oil and Gas Industries Limited said it was releasing, last night, about 13 million litres, approximately 400 trucks, of petroleum products including premium motor spirit, popularly called petrol, to ease the scourge of the endemic fuel scarcity that Nigeria had been plunged into.

The company will release a total of 70 million litres in the coming days.

The move has, therefore, broken the ranks of oil marketers and depot operators, who have refused to import any more products until their outstanding subsidy claims of over N200 billion is paid by the Federal Government.

The marketers have now become jittery over the development because they are now being exposed as saboteurs, seeing they have enough fuel stock in their depots but have refused to dispense them, even as they are losing billions of Naira daily.

Source: Vanguard Nigeria