Home News Fuel Scarcity Looms Over Planned Closure Of Ijegun-Egba Tank Farms

Fuel Scarcity Looms Over Planned Closure Of Ijegun-Egba Tank Farms


The Ijegun-Egba Tank Farm Owners and Operators yesterday warned against closure of their businesses, saying the development would brew national economic crisis, energy insecurity, massive unemployment, banking and financial crisis in the country. 

Barrister Eshiet.E.Eshiet, Secretary of the tank farm owners, revealed this in Lagos in reaction to the recent threat by the Lagos state government to shut the yank farms 

He said with the threat to shut down or close Tankfarms, the nation’s economy and energy supply, marketing and distribution of petroleum products across the country will be adversely affected, with a resultant unprecedented negative impact on energy security. 

According to him, scarcity of petroleum products and long queues with attendant impacts on business, movements and safety will resurface in response to the cut in supply chain. 

He added: “Taking cognisance of the current bleak global economic outlook, occasioned by the pandemic that has brought economic activities to a very low level, with countries across the world focusing on measures to revitalize businesses, through injecting finances and funds to stimulate business activities, stimulate national economic growth, industrial and business development and advancement, it will be counter-productive to shut down or close the Tankfarms at Ijegun or at any place”. 

He assured that the association’s members are committed to conducting their business operations in line with best practices, strict adherence to safety rules and regulations, improving the state of infrastructure within our corridor, safeguard life and property, protect and preserve the environment as well as maintaining a good business environment. 

He also faulted recent claims of the Lagos State Commissioner for Physical Planning, Hon Idris Salako (Dr) that his members are operating illegally and do not pay any taxes, charges or fees to the state government. 

He further said it was not true that his members have destroyed infrastructural facilities within their operational areas. 

Credit: Daily Independent


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