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NNPC Stockpiles Petrol as CBN Sells FX to Marketers for Diesel, ATK Imports - THISDAY

MARCH 20, 2017

By Chineme Okafor in Abuja


The Nigerian National Petroleum Corporation (NNPC) on Sunday said it has increased its petrol stock in the country and now has a robust inland supply of over 1.2 billion litres which it said would be sufficient for 34 days forward consumption nationwide.

It also said in a statement from its Group General Manager, Public Affairs, Ndu Ughamadu, that the Central Bank of Nigeria (CBN) has released foreign exchange (forex) to oil marketers to import diesel and Aviation Turbine Kerosene (ATK).
NNPC noted that its petroleum product supply outlook for March to May 2017 was looking good and that it has taken adequate steps to ensure stability in supply of diesel and aviation fuel.

According to it, the corporation will equally import diesel to supplement the quantities it gets from its refineries in Kaduna, Warri and Port Harcourt.


In addition, NNPC stated that it has re-commissioned its strategic 479.2km System 2B petroleum products pipeline network which stretches from the Atlas Cove in Lagos to Mosimi, Ejigbo, Ibadan and Ilorin, for the effective distribution of petroleum products nationwide, especially with the envisaged resumption of loading activities at the Mosimi, Ejigbo and Ibadan depots.
The Calabar and Aba depots, it added, have also been stocked with diesel while diesel load out from its Kano depot would commence soon.
Ughamadu added in a separate statement that the NNPC has indicated to the Oil and Gas Trainers Association (OGTAN) that it would improve on its engagements with the body to cut down its annual expenditure on the training of its workforce abroad.
OGTAN is an independent umbrella group that provides training to service providers in the oil and gas industry.


It was established by the Nigerian Content Development and Monitoring Board (NCDMB) in 2010 to represent the education and training sectoral group of the Nigerian Content Consultative Forum (NCCF) under Section 58 of the Local Content Act.
The statement said the corporation’s Group Managing Director, Dr. Maikanti Baru, made the remark when the President of OGTAN, Dr. Mayowa Afe, visited him in his office.

Baru said rather than going overseas, the NNPC would consider working with OGTAN as a local partner to reduce its training cost.
“As much as possible, we will continue to utilise the services of OGTAN members in order to upgrade our human resources to be able to meet the challenges in the oil and gas industry,” Baru said while commending OGTAN for growing the training component of the Nigerian Content policy.


He stated that while the NNPC had been at the forefront of growing local skills for the oil and gas industry, which had led to the rise of indigenous welders and fabricators, OGTAN’s training has been key to growing local expertise for Nigeria’s petroleum industry.
Afe commended the NNPC for sanitising the distribution channels for petroleum products in the country.


According to him, the current transparency in petroleum products distribution had brought sanity to the country’s downstream sector.
“Let me congratulate you on the sanity that has come to petroleum products distribution in Nigeria.

“There is sanity now and we want to thank the NNPC group for the sanity, openness and transparency they have brought to the distribution of petroleum products in the country.
“Though there is still much to do, the openness has brought a lot of comfort to Nigerians,” said Afe.



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