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Tanzania says pandemic not likely to disrupt domestic fuel supplies
TANZANIA
TANZANIA’S Energy and Water Utilities Reg- ulatory Authority (EWURA) has indicated that it does not expect domestic petroleum product markets to suffer any disruptions as a result of the coronavirus (COVID-19) outbreak.
According to Titus Kaguo, EWURA’s com- munications and public relations manager, the country has enough fuel on hand to cover demand for the next two months. “We usually import fuel in advance to serve the country for two months ahead, which means we are not expecting to experience any fuel shortage during this time, when the country is battling COVID- 19.” Additionally, he said, the government has a policy of maintaining petroleum product reserves in order to cushion supplies from mar- ket shocks.
“AsperthePetroleumAct,thecountryneeds to have a reserve to cater for at least 15 days,” he explained.
The country is also due to receive additional shipments of fuel in the near term, he added.
“As I am speaking to you today, we’re looking forward to receiving a consignment of fuel that will be on reserve until July 2020, when it will be available to the market,” he said.
Kaguo went on to say that Tanzania had no plans to hike retail or wholesale fuel prices in response to the coronavirus pandemic.
He also stated that the government would
penalise dealers who increased their prices in a bid to take advantage of the outbreak.
New fuel services In the meantime, he said, EWURA has drawn up plans to ensure that all of the country’s residents have adequate access to fuel supplies. Specifically, he said, the agency intends to launch mobile petroleum product delivery services serving rural communities.
These mobile services will be a better option for rural areas, as they will abide by current safety regulations, he claimed. “The established services (mobile fuel stations) are in accordance with the Petroleum Retail Operations in Town- ship and Village Rules, 2014,” he said.
By contrast, he said, existing facilities often take too many risks, such as storing and selling fuels in gallon jugs.
Kaguo was speaking shortly after EWURA reported that prices for some petroleum prod- ucts were down. On April 2, the agency said that retail rates for gasoline, diesel and kerosene had slid by 2-10% for consignments passing through the ports of Tanga and Dar es Salaam, with pump prices for fuel passing through Dar es Salaam down by 5-10%.
“The decline in local fuel prices [is] mainly due to changes in the world oil market prices and BPS,” the statement said, referring to Tanzania’s Bulk Procurement System (BPS). ™
COVID-19
African Development Bank
unveils $10bn Response
Facility to curb COVID-19
The African Development Bank Group has announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic.
The Facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis. It provides up to $10bn to governments and the private sector.
Akinwumi Adesina, President of the African Development Bank Group, said the package took into account the fiscal challenges that many African countries are facing.
“Africa is facing enormous fiscal challenges to respond to the coronavirus pandemic effectively. The African Development
NEWS IN BRIEF
Bank Group is deploying its full weight of emergency response support to assist Africa at this critical time. We must protect lives. This Facility will help African countries to fast- track their efforts to contain the rapid spread of COVID-19,” Adesina said, commending the Board of Directors for its unwavering support.
The Facility entails $5.5bn for sovereign operations in African Development Bank countries, and $3.1bn for sovereign and regional operations for countries under
the African Development Fund, the Bank Group’s concessional arm that caters to fragile countries. An additional $1.35bn will be devoted to private sector operations.
Commenting on the Facility, Acting Senior Vice-President Swazi Tshabalala said: “The setting up of the Facility required a collective effort and courage by all our staff, Board of Directors and our shareholders.”
Two weeks ago, the Bank launched a record-breaking $3bn Fight COVID-19 Social Bond, the world’s largest US dollar-
denominated social bond ever on the international capital market. Last week, the Board of Directors also approved a $2mn grant for the World Health Organization for its efforts on the continent.
“These are extraordinary times, and we must take bold and decisive actions to save and protectmns of lives in Africa. We are in a race to save lives. No country will be left behind,” Adesina said.
POLICY
Nigeria pledges free
electricity supply
nationwide for two months
The Association of Nigerian Electricity Distributors (ANED) has aligned with the federal government to provide a two-
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Week 14 09•April•2020