NNPC targets 50 % ownership of petrol stations

According to him, the NNPC has already taken over 133 petrol stations from independent marketers who are willing to partner with the Corporation saying that the arrangement will expand the mega and floating stations across the country which now stands at 37 and 12 respectively. He said: “In all developing countries, their national oil companies […]

According to him, the NNPC has already taken over 133 petrol stations from independent marketers who are willing to partner with the Corporation saying that the arrangement will expand the mega and floating stations across the country which now stands at 37 and 12 respectively.

He said: “In all developing countries, their national oil companies operate across the supply chain, including the strategic downstream sector and it is not only seen from commercial perspectives but also from national security implications.

You cannot handover that sector to a group of people or private individuals, who you cannot predict their political coloration, cannot predict the decision they may take and the implication of such decision,” he opined.

The GMD explained that the move is informed by the determination of the corporation to break the monopoly that currently exists among the marketers who play key roles in the supply chain.

About 15,000 stations in the country are not owned by the NNPC nor are they owned by the Product and Pipeline Marketing Company (PPMC). They are owned by these marketing companies. Once we sell products from the depot, they take over in terms of where they will supply the products.”

Dr. Barkindo said that the Corporation is empowered to regulate operations in the petroleum sector within a commercial framework but got its function wrong when it evolved as an appendage of Government, therefore functioning as a civil service outfit.

The NNPC helmsman attributed the inability of the refineries to distribute petroleum products to the incessant vandalisation of pipelines, noting that the non functional refineries have been a drain on resources as their workers and other logistics are kept and serviced without any work and added value to the system.

In his address, the president of the Nigeria Labour Congress, Abdulwaheed Omar observed that the meeting was an avenue for dialogue with government saying that the National Executive Council of labour will meet soon to deliberate the contentious issue.