Connect with us

NNPC doubles supply as scarcity bites harder

kizinho

Published

6 years ago

on

Follow
NEWS: NNPC doubles supply as scarcity bites harder [New Naija News] » Naijacrawl
Photo: Naijacrawl

NIGERIAN National Petroleum Corporation (NNPC) Group Managing Director Dr.

Read Also : Driver bites VIO Ear in Delta


Maikanti Baru says the corporation has doubled the daily supply of Premium Motor Spirit (PMS), otherwise called petrol, from 700 trucks (about 27 million – 30 million) litres per day supply to 80 million litres per day since the scarcity in the supply chain was noticed.
Despite the intervention, scarcity of petrol continued in several cities across the nation yesterday, with travelling motorists having recourse to buy from black marketers, who sold the products in jerry cans.
Baru spoke before the signing of a Memorandum of Understanding (MoU) between the corporation and Benue State on the Agasha-Guma Bio-fuels Projects in Abuja.
The corporation, in a statement, said the NNPC GMD attributed the hiccups in the supply of PMS to rumours about purported planned increase in the price of petrol.
He stated that some marketers, in their quest to cash in on the situation, suddenly started hoarding products.
“But we swiftly swung into action by doubling our supply nationwide. At the time the rumour started, we had about 30-day sufficiency,” he said.
He added that the NNPC has enough products sufficiency that will last up to 30 days.
Baru said at least a billion litre petrol laden-cargoes were heading to Nigeria shores at the end of this month, which, he noted, will return the country to a 30-day-plus sufficiency.
The NNPC boss, who expressed joy at PENGASSAN’s call-off of its planned strike, called on motorists not to engage in panic buying as the corporation has more than enough products for domestic consumption.
Baru, who assured that the fuel situation would soon fizzle out this week, warned marketers against hoarding.
He hailed NNPC’s sister agencies, the Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA), for their support in helping NNPC tackle the menace of hoarding by filling stations.
Signing the MoU on the Bio-fuels Project with the state government, Baru said the project would provide employment for youths in the state.
Benue State Deputy Governor Benson Abounu said the state was happy with the signing of the MoU, which, he said, was a watershed in the nation’s quest to find alternative sources of energy.
He pledged the support of the Benue citizens to the project, adding that various host communities would give their 100 per cent support for its success.
The Agasha-Guma bio-fuels project aims at developing Integrated Sugarcane Plantation and Fuel-Ethanol/Sugar/Power Plant Complex in Benue State through a Special Purpose Vehicle (SPV).
Expected to create one million direct and indirect jobs on completion, the project will also produce about 84 million litres of fuel ethanol annually.
The statement added the NNPC plans to mobilise to site by First Quarter of 2018.

Click Here To Comment




kizinho
 

Adike Kizito is a top-rated software developer, blogger, sports, and entertainment lover. He is the CEO of these popular websites Naijacrawl.com and Mp3ager.com. He operates his software developing task through Kizzsoft.com,... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Naija News

Fuel Subsidy: Check NNPC Updated Petrol Price for Your State

Piroll

Published

1 year ago

on

NAIJA NEWS: Fuel Subsidy: Check NNPC Updated Petrol Price for Your State [New Naija News] » Naijacrawl
Photo: Naijacrawl
As fuel scarcity and exorbitant prices start to dominate the country, the Nigerian National Petroleum Corporation has today make known the official rate of the non-subsidized PMS.The new price range from 480-512 across the country.It will be recalled that the Tinubu-led Federal Government announced the removal of the fuel subsidy on Monday, a decision that has put the whole country in jeopardy. Naijacrawl can affirm that the price for PMS will fall when the newly co...
Continue Reading

Naija News

Dangote Refinery: NNPC Sets to be supplying 50% of crude oil

Piroll

Published

1 year ago

on

NAIJA NEWS: Dangote Refinery: NNPC Sets to be supplying 50% of crude oil [New Naija News] » Naijacrawl
Photo: Naijacrawl
As the giant Dangote refinery is set to be commissioned tomorrow, the Nigeria National Petroleum Company (NNPC) Limited says it is set to supply 300,000 barrels of crude oil to Dangote Refinery.Mele Kyari, NNPC’s group chief executive officer (GCEO), NNPC, spoke on Thursday at the Nigeria oil and gas opportunity fair.The event was held at the Nigerian Content Development and Monitoring Board (NCDMB) conference centre in Bayelsa state.The Dangote Refinery, a 650,000...
Continue Reading

Naija News

EEDC Shuts Down Power Supply in Imo State

Piroll

Published

1 year ago

on

NAIJA NEWS: EEDC Shuts Down Power Supply in Imo State [New Naija News] » Naijacrawl
Photo: Naijacrawl
After several hours of blackout in Imo State, the Enugu Electricity Distribution Company PLC (EEDC) has finally updated its esteemed customers in Imo State the reason for the loss of supply currently being experienced.The Distribution company says it is a result of the industrial action by the organised labour union in Imo State. This led to the shutting down of our source of supply, leaving them with no energy to distribute.EEDC confirmed that the situation is appl...
Continue Reading

Latest

NAIJA NEWS: Chinese Man Arrested for 300 Million Fraud [New Naija News] » Naijacrawl
3 hours ago 5

Chinese Man Arrested for 300 Million Fraud
NAIJA NEWS: I'll not be ashamed to campaign for Tinubu - Daniel Bwala Changed Mouth After Getting Appointment [New Naija News] » Naijacrawl
3 hours ago 5

I'll not be ashamed to campaign for Tinubu - Daniel Bwala Changed Mouth After Getting Appointment
NAIJA NEWS: Bobrisky Rejects Future Awards After Scandal and Jail Time [New Naija News] » Naijacrawl
1 day ago 11

Bobrisky Rejects Future Awards After Scandal and Jail Time

  • NC NEWSLETTER

    Download Naijacrawl App today

    Fastest way to read on the go

    Download the Naijacrawl App.