BOL declares readiness to take over fuel imports
Friday, March 29, 2024 | 660 Views |
From April 1, BOL will import 90% of the country’s fuel imports and on-sell this to the existing multinational oil companies that are operating in the country and have previously imported for themselves. Citizen companies will have the right to import the outstanding 10%.
Last October, through a Statutory Instrument, BOL secured the 90% import quota, which officials say will ensure security and stability of supply, provide leverage to negotiate better prices and terms as well as empower citizen entrepreneurs in an industry dominated by large, foreign multinationals.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...