As the fuel crisis continues, Epic Refinery andPetrochemicals Company Limited, has said it intends to import refined fuel and sell at N75 per litre.
Managing Director of the company, Mathew Wenke, told THISDAY that his company did not intend to seek subsidy to import petroleum products.


He said that the company had done a feasibility study during a recent tour to the South Korea on the viability of the project, adding that Epic had already applied for approval to the Ministry of Petroleum and other relevant agencies of government to import fuel.
Wenke said that such importation was part of the company’s contribution to the Federal Government’s transformation agendaunder President Goodluck Jonathan’s administration.
According to him, the current scarcity of fuel and the attendant high cost was causedby saboteurs who want to discredit the present administration for political reasons.


Wenke said the petroleum products when imported would be made available to Nigerians through the use of the distribution network of the Nigerian National Petroleum Corporation (NNPC) to squarely address the issue of scarcity.
He however said the company which had applied to the Department of Petroleum Resources (DPR) to build a $30bn refinery in Bayelsa State would acquire series of tankers to distribute the product to all zonesin the country.
“The current fuel scarcity is caused by some saboteurs and we intend to fill this gap. It is for the sake of national interest. We shall go into mass importation of fuel while preparing to establish refinery in the next two years. We shall import fuel without asking for subsidy. We have sought to use the NNPC distribution network to address the issue of scarcity. We shall do this to show our support to the President.”, he said


He explained that the idea to sell at N75 perlitre at a time when fuel was selling between N110 and N130 in some parts of the country was mainly to demonstrate genuineness to contribute to the nation’s development and not to create more hard times for Nigerians.
“We believe that after selling at N75 per litre we shall still have enough to sustain our business”, he said.
Wenke promised that when his company was granted licence to build a refinery, the company would ensure that the price per litre would further go down.
He disclosed that the company planned to import fuel, diesel and kerosene, adding that if industry marketers went on strike for whatever reason, the company should bringin its own trucks for products distribution.


“We have written to the Minister and other agencies that we want to import. We are now waiting for their approval”, he said.
When asked on how his company intended to handle the issue of the oil industry cabal trying to frustrate such offers, he maintained that the company could not be intimidated in whatever way.
“No cabal can stop us from importing fuel atreduced price. To us, we are trying to contribute our quota to the economic development of this country. We want to think and behave like a new Nigerian. As Ijaw man, we are all mafians, we believe that nobody can stop us”, he said.


http://www.thisdaylive.com/articles/firm-seeks-approval-to-import-fuel-at-n75-litre/128450/

75naira? Are u sure? Because Aunty Ngozi, Aunty Deanzi and Mallam Sanusi all said that anything lower than 145naira will crash the economy

Unbelieveable! If this firm is for real then this is the one thousandth reason why subsidy should go...who says we can't buy fuel at N65 naira without subsidy!

But am still not fully convinced of this firm's claim! They could just have sinster motives.

I am not convinced at all. He failed to tell us the cost of Petrol per litre in South Korea.

ojesymsym: 75naira? Are u sure? Because Aunty Ngozi, Aunty Deanzi and Mallam Sanusi all said that anything lower than 145naira will crash the economy

at current marketer claims.

Seems more like a publicity stunt. And even if they get the permit, will the greedy cabal allow them to ?

This firm just shot themselves with one bullet. At a time the federal govt is campaigning for complete removal of subsidy, they come up with an idea to sell petrol below their projected price.
They have to understand that this country is deep into corruption. The cabals up there will not allow the firm to operate and unfortunately, its the same cabals that will give them the license.

I pray it works the way they are saying it, we are waiting.

in 2day's Nigeria?

Pls some1 shld tell dis guy dat may be his lincense would be granted by year 2020 (as part of d vision 20:20:20)

u go jons eh?

kayswag100: in 2day's Nigeria?

Pls some1 shld tell dis guy dat may be his lincense would be granted by year 2020 (as part of d vision 20:20:20)

u go jons eh?

No one can deny him license, he has gone public, I just pray he delivers.

...waiting and watching.

kayswag100: in 2day's Nigeria?

Pls some1 shld tell dis guy dat may be his lincense would be granted by year 2020 (as part of d vision 20:20:20)

u go jons eh?

you read ♍Ɣ mind.

It would be great if it is 4 real. But I doubt our enemies of progress politrick-cians will allow it to happen.

Like I said previously, Fuel Subsidy is a huge economical disease that should be eradicated in this country. If this has been done, probable some smart business men would have looked for ways to reduce their cost and sell at cheaper rate in order to outsmart the competition or probably we would have a cartel of oil marketers who would gang up to sell at a particular price level. The situation on ground now is outrageous and incomprehensible. We now buy fuel at N100 - N120 yet there is subsidy. Greed will not kill us in this country

kayswag100: in 2day's Nigeria?

Pls some1 shld tell dis guy dat may be his lincense would be granted by year 2020 (as part of d vision 20:20:20)

u go jons eh?

He is an Ijaw Man, He has applied to the FG for license to build a $30b refinery in Bayelsa, the president's own state.

I can say he has shown a genuine intention of goodwill. Plus he has played the "President's brother" card. Besides when seriously considered, it makes good biz and economic sense. within 2 yrs they should make enough to finance their refinery project. cos at #75, they'll have the market.

I'm so sure that this firm will NEVER get a licence. Not gonna happen.

Hmm...he's concerned about naija's oil scarcity.what a kind man.He's also an opportunist,just like Dangote.imagine what it would be 4 his company if his idea is approved.lets watch and see

Nigerians are beginning to walk to the promised land instead of complaining for 52years...

If his firm has a good intention without any reserve, God will make it possible for him and if not; SORRY!!

So what did he say is delaying the approval?

where are the so called NLC and TUC when you need them most?

Time to Occupy NNPC,DPR and Ministry of Petroleum Resources

What are we Nigerians still waiting for!

gistme24: Seems more like a publicity stunt. And even if they get the permit, will the greedy cabal allow them to ?

Are you minding them ......... Everyone wants to enjoy the Glory of being the Messiah but Can they do the work......... Hell NO

I pray this is for real and the company do not have a secret agenda but seriously what is d worst that can happen! What dis suffering we are going tru already,If they are able to pull it off am sure other geniue companies will spring up too.And dis issue of fuel will reduce. We really need to pray for them and back them anyway we can becos this issue of fuel in dis country is really alarming. Some people have turned it into their own business and do not care about the masses anymore.

Let it be known....there is no cabal who can stop these guys if the President does not have a hand in it.
It all boils down to if Mr President wants it or not.

By the way....isn't this what deregulation of the sector suppose to bring to us? Lower Prices!!
Just like the Telecommunications sector! Its all in GEJ's hands now.....not the cabals.

Well, fuel subsidy in Nigeria has been proved to be a huge joke. There has never really been a subsidy, period.
This N75 claim has always been feasible, however, it takes only a commited country to get serious about stamping out greed and corruption and realise such prospects.

New course in naija politics...JONZIN JZN101-naija fuel dream

This will be great o.

But can he survive the cabals in high places? Any way, I pray God put the cabals to confusion while the FG grant the company's request.

Meanwhile,let me sit on the booth of my car and wait for that fuel.

Wonder banks exist in Nigeria. I hope this is not its counterpart in the energy market? Wonder marketer? Wonder refinery? May end up like similar wonder banks.

You people should stop deceiving Nigerian this way
Mtcheeeeeew

Okija_juju: Why are they delaying?!!


Where is that Yoruba Otimpku SAN Falana, the Yoruba Otimpku Political Pastor Tunde and co..

Oya o!! Time to occupy NNPC, DPR and CPC..

Can't you post without mentioning Yoruba? Always craving for the bold and intelligent Yorubas to take the lead

gistme24: Seems more like a publicity stunt. And even if they get the permit, will the greedy cabal allow them to ?

You are blessed beyond words!
Both points of yours summarize the story. You spoke my mind to the dot!