Nipco pushes NNPC petrol supplies into market

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 benefited from NNPC cargo supplies, has confirmed the company’s receipt of the petroleum products from the Corporation.

Nipco, in a release this evening by its Chief Corporate Affairs Manager, Lawal Taofeek, said 24 hour-loading of trucks had begun in earnest at the Company’s depot in Lagos adding that the trucks were being dispatched to all parts of the country with immediate effect.

READ ALSO: Firm targets more gas-powered vehicles in Nigeria

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

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

The NNPC had through its Group General Manager Group Public Affairs Division Ndu Ughamadu in a statement on Saturday assured Nigerians to remain calm and not to engage in panic buying, as the end of the hiccup has come.

READ ALSO: Pricing, infrastructure imbalance worsen Nigeria’s CNG investments deficit -NIPCO

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

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, the statement said.

 Earlier in the week, NNPC Group Managing Director (GMD) 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.