NNPC PLANS TO BUILD MORE DEPOTS

NNPC plans to expands its product supply and distribution by building more depots across the country.

The Nigerian National Petroleum Corporation (NNPC) has plan to open more depot across the country so as to expand their market shares. The aim of the project is to ease products supply and distribution in the country.

The statement was made by NNPC Spokesman, Mr Ndu Ughamadu in Abuja while inaugurating the board of one of its downstream companies, NNPC Retail limited. The building which will add to the existing 23 depots will expand the company’s market share from 13 percent to 30 percent.

According to the spokesman, the NNPC Group Managing Director Dr Maikanti Baru has tasked the board that “By mid-2019, they should be having plans to go into the sub-region and this board should propel NNPC Retail into a new height.”

He also directed the company to venture into lubricants production, marine and industrial services to boost its revenue profile as it was in line with the quest for an integrated oil company.

Chairman of the board and Chief Operating Officer, Gas and Power, Saidu Mohammed said as an NNPC-owned company, the watchword for NNPC Retail should be “efficiency and profitability, especially in a downstream system like ours that is highly competitive”.