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Following the controversy generated by the declaration of the Minister of State for Petroleum, Dr. Ibe Kachikwu, that the current petrol shortages could last up to two months, the Nigerian National Petroleum Corporation (NNPC) has unveiled strategies to end the scarcity within the next few days.
NNPC’s Group General Manager in charge of Group Public Affairs Division, Mr. Garba Deen Muhammed, said in a statement last night that in the medium term, the corporation was working on sustainable strategies to permanently address the issues and challenges facing the midstream and downstream sectors.
Some of these strategies include:
- to ramp up local refining capacity and availability with the ongoing rehabilitation works targeted at running all Refineries at a minimum 70 per cent capacity utilisation within the next eight to nine months.
- increasing the combined capacity of the domestic refineries through co-locating smaller but cost efficient modular refineries within the existing refineries premises within a time frame of 12-24 months
- Securing presidential approval to take additional crude oil volume to guarantee national supply of petrol.
- working on a joint partnership with technically and financially capable investors to ensure that petroleum products transportation and storage facilities were efficiently operated on an open-access common-carrier user-tariff basis.
- Intensified monitoring policy to ensure full compliance with approved prices.
- violations of approved prices and hoarding of petroleum products attracted the following penalties:
“Level 1: Giving out of petroleum products free to the public. Level 2: Sealing off fuel stations found to be hoarding petroleum products and payment of a fine. Level 3: Withdrawal of Marketer’s licence,” he explained.
Source: ThisDay Live
NNPC’s Group General Manager in charge of Group Public Affairs Division, Mr. Garba Deen Muhammed, said in a statement last night that in the medium term, the corporation was working on sustainable strategies to permanently address the issues and challenges facing the midstream and downstream sectors.
Some of these strategies include:
- to ramp up local refining capacity and availability with the ongoing rehabilitation works targeted at running all Refineries at a minimum 70 per cent capacity utilisation within the next eight to nine months.
- increasing the combined capacity of the domestic refineries through co-locating smaller but cost efficient modular refineries within the existing refineries premises within a time frame of 12-24 months
- Securing presidential approval to take additional crude oil volume to guarantee national supply of petrol.
- working on a joint partnership with technically and financially capable investors to ensure that petroleum products transportation and storage facilities were efficiently operated on an open-access common-carrier user-tariff basis.
- Intensified monitoring policy to ensure full compliance with approved prices.
- violations of approved prices and hoarding of petroleum products attracted the following penalties:
“Level 1: Giving out of petroleum products free to the public. Level 2: Sealing off fuel stations found to be hoarding petroleum products and payment of a fine. Level 3: Withdrawal of Marketer’s licence,” he explained.
Source: ThisDay Live