In spite of challenges in the downstream fuel sector, the Nigerian National Petroleum Corporation (NNPC), has vowed to leave no stone unturned to ensure adequate fuel products availability in all parts of the country.
Given the circumstances, the Nigerian Products Marketing Company (NPMC) and the Nigerian Pipelines and Storage Company (NPSC), had fared well, in the situation in which they found themselves. Amidst upheavals in products pricing and the intrigues among players in the industry, an unimpeded fuel products supply into the market had been ensured.
NNPC Group Managing Director, Dr. Maikanti Baru said, “The NPMC and NPSC are the sole vehicles through which the NNPC is currently satisfying its obligation of being the supplier of last resort to the nation. We have ensured that we sustain the steady supply of fuel products across the country and we are doing this onerous task with integrity.”
Commercializing the operations of the company would turn out to be better if Pipelines and Products Marketing Company Limited (PPMC) would be split into NPMC and NPSC.
Strategies had been put in place by the Federal Government and the NNPC to engage members of various host communities to stem incidences of pipeline infractions with the efforts yielding positive results.
NNPC subsidiary companies have been given a clean bill of health by the Companies’ external auditors stressing that their financial statement and operations complied with international best practices.
A 42 percent fall in the price of Automotive Gas Oil (AGO) popularly called diesel was caused by the recent strategic intervention of NNPC and has continued to sustain the downward trend across the country.
Efforts to revamp and re-commission other critical pipelines and depots across the country have been ongoing. PWKD13072017