Nipco Pushes NNPC Petrol Supplies into the Market

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Nipco Plc, a major Downstream operator which the Nigerian National Petroleum Corporation (NNPC) in a statement cited as one of the six major marketers which benefitted from NNPC cargo supplies, has confirmed the Company’s receipt of the Products from the Corporation.

Nipco, in a release this evening by its Chief Corporate Affairs Manager, Alh. Lawal Taofeek, said 24 hour-loading of trucks had begun in earnest at the Company’s depot in Lagos.

The Nipco’s statement said the trucks were being dispatched to all parts of the country with immediate effect.

Nipco commended NNPC Management as well as that of its subsidiary Company, Petroleum Products Marketing Company Limited (PPMC) for boosting petroleum products supplies, disclosing that Nigerians would soon feel the impact of NNPC intervention immediately.

“Our terminal is already burbling with activities, with the marketers feeling a sigh of relief which the consumers would soon feel positively,” the statement said.

For the umpteenth time, NNPC assures Nigerians to remain calm and not to engage in panic buying, as the end of the hiccup has come.

Appropriate sanctions, by the security agencies working together with industry regulators, await any Marketers that may risk engaging in hoarding.

The six major marketers that recently received consignments of NNPC petrol imports and are trucking them round the clock to all parts of the Country are: Total, Forte Oil, Oando Plc, MRS, 11 Plc and Nipco Plc.

The supplies are mostly from Cargoes of PMS imported to by NNPC which are daily berthing and immediately being made to discharge their products to stem the supply hiccups.

The imported products are also being supplemented by supplies from the local refineries.

Earlier in the week, NNPC GMD, Dr. Maikanti Baru, had stated that the Corporation’s 1billion litres PMS cargo imports had started to arrive, saying supplies to parts of the country had been doubled to 80million litres per day since the current hiccup in the supply chain was noticed a few days back.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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