Monday, 4 April 2016

NNPC reveals plan to end fuel scarcity through local minning

Dr. Babatunde Adeniran, the group executive director (GED) Commercial and Investments of the Nigerian National Petroleum Corporation (NNPC), now presently known as NNPC Ventures, has revealed that the corporation will adopt a two-prong approach to permanently solve the problem of perennial fuel scarcity in the country. 


Adeniran disclosed this in Benin, Edo state at the weekend while speaking to journalists, shortly after assessing the fuel supply situation in the state. He said the approaches include securing products availability through local refining by the existing three refineries and massive strategic storage of petroleum products in the Corporation’s offshore and on-shore storage facilities.

The GED who described the situation as “unpalatable,” pleaded with Nigerians to be patient and bear with the NNPC, assuring that supply of products would start getting normalized beginning from the first week of April. ‎ He listed causes of fuel scarcity to include inadequate forex, configuring refineries abroad from winter to summer and pipeline vandalism.

He said: “Fuel will soon be available as soon as we have this summer configuration which is peculiar to Nigeria needs. I have seen long queues and see where they are selling and where they are not selling. It is a situation that is not palatable.

 “Nobody is happy with what is happening despite all the efforts we have put in place. The bottom line is the amount of forex available. The problem is not peculiar to Nigeria alone. Refineries in Europe are changing their configuration from winter to summer. 

“Our Refineries are coming up. We can now supply crude to Port Harcourt and Warri. We are making effort to push crude to Kaduna refinery. To push crude to Kaduna will take about 10 days. They are warming up already in Kaduna to receive crude.”

He also added that the NNPC was planning strategic storage of products both offshore and on land to secure products and appealed to pipeline vandals to desist from sabotaging the Corporation’s facilities. 

He said: “If pipelines are working, there would not have been products scarcity. All these‎ facilities put in place by Government for the benefit of the people should be taken care of.” 

Meanwhile, following current scarcity of the product, pump price of fuel were sold for between N230 and N250 per litre in some filling stations in Benin on Sunday, April 3.


Source- Naij.com

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