Economy
NARTO: Risk Of Losing N300 Billion If FG Bans 60,000- Litres Capacity Tankers From Roads
NARTO: Risk Of Losing N300 Billion If FG Bans 60,000- Litres Capacity Tankers From Roads
Risk of losing N300 billion if FG bans 60,000- litres capacity tankers from roads. Mr Othman said the cause of the accidents was not 60,000-litres capacity of the tankers but could be the condition of the roads, state of vehicles and the drivers.
The National Association of Road Transport Owners (NARTO), has expressed fear over Federal Government’s plan to ban 60,000 litres capacity tankers from Nigerian riads following the rising cases of accidents involving fuel tankers.
NARTO President, Yusuf Othman during an interview in Abuja on Sunday, said such a move would cause a loss of N300 billion worth of investments by tanker owners.
The Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is considering placing a ban on 60,000 litres capacity petroleum tankers, due to incessant accidents/deaths involving them in the country.
The NMDPRA proposed a restriction of petroleum tankers capacity to a maximum of 45,000 litres to reduce accidents, explosion and fatalities.
Apart from determining appropriate truck carrying capacity, the NMDPRA had put in place other safety measures, including installation of anti-spill safety valves in tanker trucks, public sensitisation against scooping at accident scenes and regular stakeholders’ meeting, among others.
The regulator is of the view that the noncompliance with the established safety measures led to the recurrence of these accidents.
Mr Othman, however, said the cause of the accidents was not the usage of 60,000 litres tanker capacity, but attributable to the condition of the roads, state of vehicles and the drivers.
He said that 2,000 trucks with 60,000 litres capacity worth N150m each, amounting to N300 billion investments were involved in the transportation of petroleum products nationwide.
Mr Othman explained that some of theo investments were being financed by commercial banks, while some were personal investments of the tanker owners.
He saud, “Every truck owner is an investor and every investment is done with a view to get a return. We have about 2,000 trucks worth about N150 million each, which is about N300 billion. It will not be fair for them to go down the drain; we are trying to see if there is a win-win situation.
“We all are not happy with the recent development that led to loss of lives and we pray that it will not be repeated. It’s a monumental loss, as well as a monumental loss of investments.
“However, as much as we appreciate the concern of the public and government in this respect, we believe that the 60,000 litres tanker capacity is not the cause of the accidents because the weight is on the back axle. In such an accident, people rush to start scooping and in the process of doing that explosion occurs.”
He appealed to the Federal Government to consider a buy-back policy to help the investors, if it wishes to phase out completely the usage of 60,000 litres tanker capacity in the distribution of petroleum products.
Speaking on safety regulations and measures, he said the association ensured compliance by the members and ensured that only licensed drivers who were physically and mentally okay with good health and vision plied the road.
He further said that the association trained and retrained tanker drivers on regular basis, and also ensure that the trucks were inspected twice a year to be road worthy.
He maintained that the habit of scooping the petroleum products at accident scenes resulted in the monumental loss of lives, hence general public enlightenment became very apt.
NARTO
He stated, “If the capacity is reduced to 45,000, the truck cannot have a balance; reducing from 60,000 to 50,000 litres capacity could be fine, but not 45,000 litres capacity. All the 60,000 litres trucks are new, that is why they are able to carry 60,000 litres of petroleum products. Old trucks cannot carry 60,000 litres of products and are phased out because they don’t make any economic sense.
We support the government and also want the government to support our private investments. We are still talking with the Federal Government, and I believe we will resolve the matter amicably.
Navy Dismantles Illegal Refining Capacity, Destroys Site With 3 Storage Tanks in Rivers
The Nigerian Navy, through FOB BONNY, has dismantled an illegal refining site discovered in Promise Land Community along Nanabie Creek, Bonny Local Government Area of Rivers State, further denying criminal operators the infrastructure required to process stolen crude oil.
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The site was discovered on 30 September 2026 following credible intelligence and comprised one large cooking pot and 3 large storage tanks intended for illegal refining activities. On 2 October 2026, the Commanding Officer, FOB BONNY, Captain SMC Umeh, led a team to the location, where the illegal refining site and associated equipment were destroyed in accordance with established regulations.
The intervention represents a further disruption of illegal refining capacity within the Bonny area, particularly by removing infrastructure that could be used to process and store stolen crude oil. It also follows recent operations by FOB BONNY under Operation DELTA SENTINEL that uncovered substantial volumes of suspected stolen crude oil and associated illegal refining infrastructure within its Area of Operations
Oil
The Nigerian Navy has continued to strengthen surveillance and monitoring across the area to prevent the establishment or reactivation of illegal refining sites and deny criminal operators the infrastructure required to sustain crude oil theft and related activities.
ABIODUN FOLORUNSHO
Navy Captain
Director Naval Information
Nigerian Navy
Eereporter.com
NNPC Ltd Offers N66 Fuel Discount Throughout the Nation
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has unveiled a nationwide ₦66 fuel discount promotion for customers using the NNPC Fuel App.
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In a post obtained from its X handle on Friday, the promotion, which runs from October 1 to 7, is being held across NNPC stations nationwide as part of activities marking the period.
“The ₦66 Discount Promo is ongoing & the excitement is already happening across our stations nationwide!
“All over Nigeria, our customers are getting in on the action & there’s still time for you to benefit!
The promo runs from 1–7 October on the NNPC Fuel App,” the post read.
NNPC said customers across the country have already begun participating in the promotion, with highlights from the first day showing activities at several stations.
“Keep fueling, keep transacting and keep your eyes on our pages,” the post read.
NNPC
NNPC also shared moments from the first day of the promotion and said more pictures and activities from stations across the country would be released.
The company urged customers not to miss the opportunity to participate before the promotion ends on October 7.
The ₦66 discount offer is available through the NNPC Fuel App during the stated promotional period.
Eereporter.com
President Tinubu Tells EFCC: You Have Justified my Confidence in You
President Bola Ahmed Tinubu has applauded the efforts and performance of the Economic and Financial Crimes Commission, EFCC, in tackling economic and financial crimes and other acts of corruption in the country, stressing that it has justified the confidence reposed on it.
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He gave this commendation on Friday, October 2, 2026 in Awka, Anambra State at the commissioning of a new Zonal Directorate of the EFCC. The President pointed out that there are evidential proofs of the success of the Commission in convictions, recoveries and other landmark achievements
Represented by Honourable Tajudeen Abbas, Speaker, House of Representatives, Tinubu noted that “supporting the EFCC is not particularly difficult. The agency has consistently demonstrated that the confidence reposed on it is well founded. Without mincing words, the evidential proof of the EFCC’s success speaks loudly in convictions secured, assets and properties recovered”
He affirmed that the strides of the Commission are in tandem with the Renewed Hope Agenda of his administration.
“When we came in three years ago, I highlighted nine major focal areas of my administration. Two of which are reforming the economy for sustained and inclusive growth and promotion of good governance. The anti-graft agency compliments this agenda as they are focused on accountability and transparency and appropriate deployment of resources”, he said.
At the commissioning, the Executive Chairman of the EFCC, Mr. Ola Olukoyede restated the commitment of the Commission to preventive frameworks in tackling economic and financial crimes and other acts of corruption in the country.
According to him, the Commission will continue its focus on making corrupt practices difficult by blocking avenues through which they may happen.
“This new Directorate will not only enforce the law professionally and courageously, it will be high on corruption prevention. It will engage government institutions, businesses, financial institutions, professional bodies, schools, markets, civil society organisations, traditional institutions, religious bodies and communities. It will educate stakeholders, build relationships and mobilise the people to own the fight against all forms of corrupt practices in the zone”, he said
He assured Nigerians that the EFCC would not relent in the pursuit of its mandate, recalling the achievements of the Commission in the last 34 months and describing them as impressive progress.
“The pursuit of our mandate has been our dominant engagement and in the past few years, we have made impressive progress. Between October 2023 and July 2026, the Commission received 49, 673 petitions, investigated 39, 615 cases, filed 14, 476 cases in court and secured 10, 872 convictions. This gives a conviction-to-filing ratio of 75.1 percent. In the first half of 2026 alone, we recorded 1, 370 convictions from 1, 889 filings. The Commission also recorded recoveries of N1, 233, 612, 040, 411. 11, $684, 478, 457. 32, £373, 905. 78, €9, 343, 803. 66 inn addition to recoveries in other currencies”, he said.
He noted that at the institutional level, the Commission has made radical reforms that have been yielding optimal results as there are consequential improvements in the agency’s processes and procedures, which partly explains the impacts the EFCC has made and will continue to make in all the matrices of law enforcement.
“Reforms that have strengthened the Commission during the period include new guidelines on arrest and bail, a review of sting operations, the establishment of the Department of Fraud Risk Assessment and Control, the Security Department, the Immigration and Visa Section and the Cybercrime Rapid Response Centre”, he said.
While charging Ndi Anambra on whistleblowing, the anti-graft czar said that the Commission has established channels through which members of the public can submit petitions and provide information. He noted that the Commission’s Eagle Eye App allows citizens to provide details of suspected wrongdoing and makes the provision of an informant’s personal details optional. “However, whistleblowing must be responsible and based on facts. It must not become an instrument for settling scores”, he said.
EFCC
He thereafter said that Anambra and Imo States deserve effective and responsive institutional presence as they are renowned for enterprise, innovation, commerce and an extraordinary culture of industry, adding that these legitimate activities must be protected from fraud, cybercrime, money laundering, investment fraud, diversion of public resources and other forms of economic and financial crimes. “Therefore, our coming to Awka is beyond geographical expansion. It is about taking the mandate of the EFCC closer to the people and closer to the economic activities we are meant to protect”, he said.
In their remarks, His Excellencies, Professor Chukwuma Soludo, Governor of Anambra State and Senator Hope Uzodinma, Governor of Imo State said that they were pleased with the activities and management of the EFCC under the leadership of Olukoyede. They pledged their support to the Commission as it opened a new Zonal Directorate in their domain.
The commissioning of the new Directorate witnessed massive turn out of distinguished Nigerians, including members of the National Assembly, civil society organisations, community leaders, students, media among others.
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