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Oriental News Nigeria
Home»Energy»Oil & Gas»NIPCO Boosts Fuel Reserves With 37m Liters
Oil & Gas

NIPCO Boosts Fuel Reserves With 37m Liters

By orientalnewsngJune 1, 2015No Comments4 Mins Read
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Yemisi Izuora
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NIPCO Plc has imported 28 million metric tons (37million litres) Premium Motor Spirit (PMS), also known as petrol into the country just as scarcity of the products refused to abate despite resumption of distribution by Major Marketers.

The company confirmed that the cargo which contained the consignment (fuel) arrived the country via MT Admiral L at Apapa jetty.

Oil marketers, it would be recalled, have earlier halted importation of fuel over N200 billion debts, which the government owed them on subsidy, foreign exchange differentials and interest.

Although the pledge by marketers made through the Depot and Petroleum Products Marketers Association (DAPPMA) that they would begin importation of the product was received with some level of scepticism, checks  in depots across Apapa showed that products importation have began in earnest.

The 28 million metric tons fuel cargo has started to discharge to augment what the Nigerian National Petroleum Corporation [NNPC] brought in to save the situation.

Manager Corporate Affairs of Nipco, Lawal Taofeek confirmed in a telephone chat that the company has began importation.

NIPCO, according to Lawal, took this bold step of importing at this period in the nation’s history based on its avowed belief in the resilience of the economy “and we will remain an ally in ensuring availability of fuel across the nation.”

Meanwhile, checks on the NIPCO’s terminal showed that the over 1,500 trucks have already lifted the product from the depot.

“This is because this depot like a few others has been working round the clock to dispense product to marketers after they must have concluded clearances from all the relevant government agencies,” Lawal said, adding that the new “consignment will definitely aid the flow of products to marketer’s outlets across the nooks and crannies of the country.”

He continued: “The cargo is one of the consignment the company ordered for as part of its role in ensuring continuous availability of petrol not only in its hundreds of branded outlets in Nigeria but also in other marketing outlets  taking products from the depot.”

According to him, truck out of products have continued ceaselessly in a bid to ensure that the type of agonies the populace faced last week does not repeat itself again stressing that “we would not relent in this onerous responsibility in line with our mission of meeting the needs of all stakeholders in the oil and gas industry.“

Already, barely a week after the commencement of loading at the terminal about one thousand  five hundred trucks laden with PMS have been left the terminal for filling stations across Nigeria to ease the agony of scarcity.

Lawal maintained that with the arrival of the cargo and subsequent ones in the pipeline, the gloom on the faces of motorist will soon change and all stakeholders will be better for it.

He recalled that product importation and its seamless dispense remained one of the hallmark of the company, a development which had been a major strength of the company among its peers.

Product importation to augment supplies from PPMC, he claimed, is one of the concrete steps taken by the company to meet the needs of its esteemed customers who had remained steadfast with the organization in the last eleven years.

“The dream of the investors in the company who are mainly fuel marketers has been the driving force of the organization, hence its quest to go extra mile in getting products that will keep their stations wet

“In 2015 and beyond, we intend to enhance our product importation both for regulated and deregulated products in the quest to meet fuel marketer’s needs and prepare adequately for the upcoming reforms in the oil and gas industry,” he assured.

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