Festive Period: NNPC assures of adequate fuel supply

Fri, Nov 9, 2018 | By publisher


Featured, Oil & Gas

Maikanti Baru, the group managing director of the Nigerian National Petroleum Corporation, allays fear that Nigerians may not have enough petroleum products during festive period

By Anayo Ezugwu

Ahead of festive period, the Nigerian National Petroleum Corporation, NNPC, has assured Nigerians of adequate fuel supply. Maikanti Baru, the group managing director, NNPC, said Nigerians have nothing to worry about in terms of fuel supply and distribution going into the festivity.

Speaking at the NNPC Day at the ongoing 2018 Lagos International Trade Fair, Baru said it is the responsibility of the corporation to ensure that there is no fuel scarcity in the country. The GMD, who was represented by Henry Ikem-Obih, chief operating officer, Downstream, NNPC, said the corporation has more than 40 days- worth of fuel supplies within Nigeria.

“We are working to secure Nigerians energy needs and for the fuel supply and distribution across Nigeria; it is our primary responsibility to ensure that there is no scarcity. We have done that through making sure that on supply side, we are very robust. As I speak we have well over 40 days-worth of supplies within Nigeria, which means even if we don’t import more we can go for the next 40 days without Nigerians worrying over fuel.

“But over and above that we continue to import on a daily basis. We are also distributing using our various assets and we are working with the private sector marketers to ensure that even in their tank farms they are fully supplied. I think Nigerians have nothing to worry about in terms of supply situation going forward.  And this is beyond December; this is even going into next year. We have all our supply arrangements in place to ensure that Nigerians do not suffer or do not go through the experience they went through in December 2017,” he said.

According to Baru, the NNPC is expanding and integrating the nation’s gas pipeline network system to meet the unprecedented domestic gas demand. He said in the last couple of years, the corporation has engaged itself in a process of transformation, which includes the creation and rebranding of its downstream entities such as the Petroleum Products Marketing Company, PPMC, the Nigerian Pipelines and Storage Company, NPSC, NNPC Retail and NNPC Shipping.

The transformation, he said, is to continue the corporation’s drive to efficiency, accountability and profitability which are answerable to the nation’s energy demands. He noted that the corporation has made improvements in the tank expansion at Atlas Cove Depot, re-opening of depot facilities at Mosimi, Ibadan, Enugu, Aba and Kano, Aba-Port Harcourt pipeline, Jetty expansion projects.

Baru added that the NNPC retail is set to go beyond the 14 percent of local market share. “To aid in achieving this target, we have expanded our retail outlets, notable examples are, indeed, located here in the South-West. For example, we have the newly constructed ultra-modern mega station along the Lagos-Ibadan Expressway and so we are not only creating new logos for these companies, we are repositioning them all for global competitiveness in line with the 12 Business Focus Areas of our administration.”

According to him, this will invariably impact positively on the Nigerian economy in view of the role of the Oil and Gas Industry as the number one foreign exchange earner for the country, and given the position of our corporation as managers of government interests in the sector.

Nevertheless, Baru reiterated the corporation’s commitment towards improving its systems, processes and procedures in order to continue to effectively add value to the exploitation of hydrocarbon resources in Nigeria. “NNPC is a national oil company of Nigeria, so it is extremely important that as part of our stewardship to showcase the activities of the corporation at the various trade fairs in the country and to show our commitment to moving Nigeria forward. This is one of the key decisions for me to personal attend this trade fair.

“It is also a great opportunity for us to interact with potential investors in the oil and gas industry because one of the things we stand for is to enable local businesses, empower local people, facilitate the creation of additional values across the oil and gas supply value chain as well as improving other businesses that will benefit from this relationship. Our committed is for excellence in all we do. Like I said from the beginning, as the national oil company of Nigeria, it means that Nigerians are shareholders of this company. And therefore we have the responsibility as management of NNPC to ensure we create and implement values for Nigerians to benefit from NNPC as an institution that belongs to them,” he said.

– Nov. 9, 2018 @ 18:55 GMT |

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