NNPC Unveils Strategies to End Current Fuel Scarcity in Next Few Days

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NNPC Unveils Strategies to End Current Fuel Scarcity in Next Few Days

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, has compelled the Nigerian National Petroleum Corporation (NNPC) unveil strategies to end the scarcity within the next few days.
NNPC today also reassured Nigerians that it was on top of the petroleum products supply and distribution situation, and remained committed to eliminating this endemic issue once and for all within the next few days.
The Group General Manager in charge of Group Public Affairs Division of the corporation, 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.
According to him, the overarching objective is to make Nigeria a net exporter of Petroleum products as was the case in the 1970’s.
“Our commitment to ramp up our local Refining capacity and availability remains un-waivered with the ongoing rehabilitation works targeted at running all Refineries at a minimum 70% capacity utilisation within the next 6 - 8 months. This is in addition to our initiative of 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,” Muhammed explained.
He further stated that as a result of the challenges that major oil marketers faced in contributing their supply quota due to constraint in accessing foreign exchange and outstanding subsidy obligations, the corporation was burdened with the obligation to guarantee almost 100 per cent in the national supply.
Muhammed noted that since the domestic crude oil supply of 445,000 barrels per day could only guarantee about 50 per cent of the 45 million litres national requirement for petrol, NNPC had secured presidential approval to take additional crude oil volume to guarantee national supply of petrol.

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