Capital Oil Adopts Measures To Curb Illicit Practices By Marketers


The Managing Director, Capital Oil and Gas, Mr Ifeanyi Ubah, on Tuesday said the company had adopted measures to curb illicit practices by marketers.

Ubah said while addressing newsmen in Abuja that the company had adopted the “no change of number” measure to curb the “unpatriotic act”.

“We recently noticed some sharp practices by oil marketers who use our facility as an avenue for selling loaded products or loading tickets at unapproved prices.

“We have therefore come out with measures to curb the unpatriotic acts.

“The modus operandi adopted to stop these unwholesome practices is what we call ‘no change of number’,” he said.

He said that the measure would ensure that only marketers that presented approved trucks listed on the loading tickets would be loaded with products.

He said the abuse of the policy by allowing change of truck number made it easy for some marketers to engage in illicit acts.

“The marketers collect loading tickets from NNPC with a particular number, come to our terminal with a different truck which is not indicated on the loading tickets.

“We have resorted not to load products for any marketer with such loading ticket,” Ubah said.

Ubah explained that there were many terminals used by NNPC to store products in Lagos and other parts of the country and marketers were at liberty to use any of them.

He noted that the Capital Oil and Gas would continue to promote good ethics and conduct in giving the best professional care to customers.

Commenting on allegation of not dispensing to Independent Petroleum Marketers of Nigeria (IPMAN), he said that Capital Oil and Gas should not be dragged into leadership crisis.

Ubah said the company held its customers in high esteem and would continue to maintain best practices as one of the major petroleum terminals in the country.

“IPMAN should try and resolve their leadership crises; I helped them four years ago and brought peace under the leadership.

“I don’t want to get involved again in their problem; we hold all our customers in high esteem,” he said.

He added that IPMAN members were not obliged to get products from Capital Oil alone as NNPC deposits products in many depots.


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