The Nigerian National Petroleum Corporation (NNPC) on Sunday disclosed that it had fast-tracked agreements with petroleum products bulk purchase nationwide with a view to ensuring uninterrupted products’ availability throughout the yuletide and beyond across the country.
The corporation’s Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, gave this hint in a statement, indicated that all the major stakeholders in the downstream sector agreed that all hands must be on deck to achieve the goal.
Quoting the Chief Operation Officer (COO), Downstream, Engr. Henry Obih, the spokesperson stated that all NNPC depots, Petroleum Products Marketing Company (PPMC) throughput partner depots, the major marketers depots and depots of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) members who signed the Bulk Purchase Agreement, BPA, with PPMC as well as NNPC retail stations, Major Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) filling stations, would continue to operate at maximum levels to ensure uninterrupted distribution of petroleum products nationwide.
Obih urged motorists not to engage in panic buying of petroleum products during the festive season, adding that government has agreed to settle the first tranche of the verified claims of the oil marketers’ subsidy claims in line with the approval of Federal Executive Council (FEC) and National Assembly (NASS) by Friday, 14 December, 2018.
The corporation’s chief commended marketers under the aegis of MOMAN, some BPA DAPPMAN members, IPMAN, National Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD), Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Nageria Union of Petroleum and Natural Gas Workers (NUPENG) for aligning with the government’s subsidy arrears payment terms.
He assured that the corporation would continue to work with all relevant downstream stakeholders to ensure adequate availability of petroleum products on a sustainable basis
According to him, as part of efforts to sustain the zero-fuel shortage situation in the country, NNPC has 2.6 billion litres stock of Premium Motor Spirit (PMS) and 90,000 metric tonnes of Dual Purpose Kerosene (Diesel), the holding which is expected to last 52 days even if no single product is imported into the country.
On the stock level, the Managing Director of the Pipelines Products Marketing Company (PPMC), Umar Ajiya, assured that all the 618 NNPC retail stations and all the NNPC depots would be operational across the country throughout the festive season in order to ensure seamless supply and distribution of petroleum products.
