Fear Grips Tank Farm Operators as FG Moves To End Fuel Importation

There is palpable apprehension among operators of tank farms in Nigeria following federal government’s determination to end the importation of refined petroleum products in the country by 2019.

Consequently, commercial investment in tank farms and other storage facilities across the country is looking like a miscalculated business venture for owners who procured loans from commercial banks to set them up.

LEADERSHIP Sunday recalls that portfolio investors latched on to opportunities provided by the petroleum subsidy regime to make investments in that sub sector.

A recent policy of the federal government on deregulation of the downstream oil industry made it possible for oil marketers to import and warehouse petroleum products in tank farms for storage and resale.
LEADERSHIP, November 12, 2017

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