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Fuel Queues Return, NNPC, Marketers Allay Scarcity Fears

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Filling stations in some parts of Lagos experienced queues on Friday amid a supply hitch that slowed down the distribution of the Premium Motor Spirit (petrol).

Our correspondent learnt on Friday that the hitch was resolved on Thursday, with more vessels expected to arrive in Apapa and discharge the product over the weekend.

The pockets of fuel queues in Lagos emerged a day after the Nigerian National Petroleum Corporation restated its commitment to the sustenance of the seamless supply and distribution of petroleum products across the country.

The NNPC, on Friday, appealed to Nigerians to disregard trending social media report of an impending fuel scarcity due to purported refusal by some oil marketers to lift products from depots.

The Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, explained that the tale was fabricated by mischief makers with intent to create undue panic in the prevailing sanity in the fuel supply and distribution matrix across the country.

According to the statement, the corporation has over one billion litres of petrol in stock, and there was no need for panic buying or hoarding of petroleum products in anticipation of a phantom scarcity.

The Chief Executive Officer, Mr Clement Isong, in a telephone interview with our correspondent, said the hitch led to the loss of a couple of hours in the transition of products between a vessel and the stations.

“But that hitch was resolved yesterday (Thursday), and we are pumping out as much as possible. Hopefully, the queues should have been cleared by tomorrow (Saturday) morning,” he said.

According to him, major markets have products in their tanks in Apapa and are loading out.

He said, “A vessel is currently offloading and we are expecting two vessels tomorrow. So, we will have three vessels pumping fuel into our tanks, and we will work throughout tonight to supply to the stations. So, if the public just live their lives as normal and there is no panic buying, there will be no queues.

“There is no problem in the supply chain; we just have got to focus to make sure that all the stations have products at the same time, and that the public do not resort to panic buying.”

The Group Managing Director, NNPC, Dr Maikanti Baru, on Thursday, stated that “the present zero queues in the country would be sustained, especially as Easter approaches,” adding that no fewer than 55 depots across the country were fully stocked with petrol.

He explained that 23 depots in Lagos, seven in Port Harcourt, 11 in Warri, six in Calabar and eight in Kaduna, were stocked with petrol.

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Business

Inaugural Set of FirstBank Management Associates Programme Graduates

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First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, on Tuesday, June 30, 2020, graduated 28 successful candidates in its inaugural FirstBank Management Associates Programme (FMAP). The virtual exercise was held via the Zoom video conferencing application. The programme which commenced in 2018 had a total of 48 candidates selected from thousands of entries and applications received nationwide.

FMAP is a 24-month fast-track comprehensive developmental programme targeted at young, dynamic, self-motivated and highly driven individuals that possess the right skill set and excellent leadership potential among Junior and entry-level cadre staff. Entries and applications for the programme enrolment was also extended to the public

Speaking about the programme, Dr. Adesola Adeduntan, CEO, FirstBank said “It is an intensive skill development programme structured to enhance acute thinking, financial, methodical skills of staff. The bank would continue to reinvest in its human capital to create a kind of leadership needed for future growth and development

“This is part of the Bank’s strategic objectives of infusing and developing leadership at requisite levels across its staff hierarchy, aimed at building the next generation of leaders who will be groomed to drive the Bank’s vision of being Africa’s Bank of first choice”, he concluded.

At the end of the programme, successful candidates are moved to middle management, becoming Management Associates irrespective of their grades at the point of entry.
Cross country postings and secondment opportunities is also offered to such staff to provide them with global exposure and network.

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FirstBank Empowers Women Through FirstGem Online Community

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that its all-female online community www.firstgem.com.ng, offers mentoring, support and capacity building opportunities for all to create a new generation of financially literate women.

With the aim to increase its engagement and reach a wider audience, an online repository for its FirstGem product was created and designed to provide a virtual online community where like-minded women irrespective of where they are in Nigeria and abroad, gather to connect, grow and share knowledge on everything about lifestyle, parenting, career development, entrepreneurship, health, work and family. Financial empowerment and wealth creation ideas are shared to encourage women to play their part in providing financial support for their families.

The portal provides varied contents ranging from Blog stories to Vlogs, Newsletters, Chat rooms which are built on 6 pillars – Health, Wealth and Finance, Food and Recipes, Events, Entrepreneurship, Lifestyle and Beauty. The FirstGem online community presently has over 61,634 members drawn from all walks of life sharing ideas, insights and experiences.

According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “FirstGem is suited for the Nigerian woman, and we are using this online community as the ideal opportunity to position the Bank’s gender initiatives to meet the required needs on a wide range of issues affecting women from lifestyle, skills acquisition, finances, wealth acquisition and management, business support, etc.
We encourage all women to join the community by signing up via this link https://firstgem.com.ng/community to enjoy this experience.

FirstGem is a gender specific account designed to meet the needs of women, aged 18 years and above. It is targeted at a broad spectrum of women, working professionals, entrepreneurs and MSMEs with a view to promoting growth via an array of benefits, from free business advisory services, regular information or insights on business opportunities in various sectors and industries, as well as mouth-watering discounts at partnered stores and outlets.

FirstGem has successfully empowered women in states across the geo-political zones in Nigeria and the UK.

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FBNHoldings Wins World Finance Best Corporate Governance in Nigeria Award 

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Nigeria’s leading financial services group and holding company, FBN Holdings Plc, has won the 2020 Best Corporate Governance in Nigeria Award by the World Finance. World Finance is renowned for its comprehensive coverage and analysis of the global financial services industry, international business, and the global economy.

FBN Holdings Plc is winning this award for the second consecutive year on the back of its strong corporate governance practices and outstanding leadership in the Nigerian financial services industry

Commenting on the award on behalf of FBNHoldings, UK Eke, MFR, its Group Managing Director said; “winning the award in quick succession is a demonstration of not only the strength of our corporate governance practices but also its resilience. As a holding company, we emphasize the highest standards in corporate governance across all operating entities in our quest to deliver value to our numerous stakeholders”

For the past thirteen years, World Finance has been celebrating corporate achievements in the areas of corporate governance, innovation, and market leadership in the financial services sector across all the regions of the World.

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