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NNPC seeks investors for 10bn barrels untapped deepwater assets

…denies plan to retire staff

By Mike Eboh

The Nigerian National Petroleum Corporation, NNPC, yesterday, insisted that it has no plan to embark on a mass retirement of its staff, while it also assured of a stable supply of Premium Motor Spirit, PMS, also known as petrol during the Yuletide season and beyond.

Group Managing Director of the NNPC, Dr Maikanti Baru

This was even as the NNPC also invited foreign investors to invest in Nigeria’s over 10 billion barrels of oil equivalent untapped deepwater resources.

In a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, gave the assurance yesterday at a programme organized by the Corporate Services Autonomous Business Units, ABU, of the corporation, to showcase its products and services to the public.

He explained that the recent retirement of some staff following the last management promotion exercise was restricted to those who had been performing below par.

He said, “They were a disincentive to those remaining in the system and it was only appropriate to disengage them to allow some fresh air for others to rise”.

Baru charged the management and staff of the NNPC to go about their duties and continue to give their best to the corporation and ignore the rumour of sack.

He further harped on the need for staff to be law-abiding, resourceful and disciplined, and urged staff to come up with innovative ideas and best-in-class practices to reposition the NNPC, and sustain its pride of place in the national economy as we strive for global recognition.

The NNPC chief executive commended the Corporate Services ABU for being in the forefront of service delivery and for enhancing the overall business success of the Corporation, adding that the programme, tagged ‘CS Connect’ was aimed at improving current support services with a focus on cost-reduction and greater efficiency.

NASS commends NNPC

Meanwhile, the House of Representatives’ Committee on Petroleum (Downstream), yesterday, called on the Federal Government to pay up the subsidy arrears owed oil marketers to avert any crisis in the distribution of petroleum products in the country, especially during this festive season.

NNPC subsidiary resumes international shipping of Crude oil

In another statement, Chairman of the Committee, Mr. Joseph Akinlaja, also commended the Nigerian National Petroleum Corporation, NNPC, on the strategies deployed so far to make petroleum products available to Nigerians throughout the end of year festivities and beyond.

According to a statement by the NNPC, Chairman of the Committee, Mr. Joseph Akinlaja, who gave the commendation of behalf of its during an oversight visit to corporation, also expressed confidence that the elaborate measures put in place by the corporation to avert fuel supply shortage would be successful this year going by the painstaking efforts that went into the planning and execution of the zero-fuel scarcity strategy.

He said, “We are impressed by the presentation and we are sure there will be no war room here again because of products scarcity, you have done very well and I’m happy that Nigerians are going to travel effortlessly at this period of the year”, Hon. Akinlaja enthused.”

Speaking further on the need to support NNPC to sustain petroleum products supply, Akinlaja said the corporation was overburdened, adding that, “because of that, when it runs into hiccups, somebody will say their operations are opaque. Let’s avoid fuel scarcity by supporting NNPC.”

He also expressed satisfaction with the improvement on the integrity of the pipelines and urged NNPC to expedite action on the remaining ones, especially those linking the Ore Depot from Benin City and to the Ibadan Depot.

In his presentation to the Committee, Group Managing Director of NNPC, Mr. Maikanti Baru, reassured Nigerians of the corporation’s preparedness to ensure zero-scarcity of petroleum products during the upcoming festive season and beyond.

Baru, who was represented by Chief Operating Officer, Downstream of the NNPC, Mr. Henry Ikem Obih, lauded the Committee for its support during the last fuel supply hiccups that occurred in the country from November 2017 to the early part of this year.

He disclosed that adequate measures have been deployed to avert any form of supply challenge, stressing that even if NNPC were to stop importing fuel as from today, there was enough stock of Premium Motor Spirit (PMS) in the country to last for 45 days.

On his part, Managing Director of the Petroleum Products Marketing Company Limited, PPMC, Mr. Umar Ajiya, disclosed that the company has returned to profitability with a trading surplus of N32 billion between January and November 2018.

Nigeria imported 5.56bn litres of petroleum products in Q3

The PPMC boss also stated that as part of the zero-scarcity strategy, the company had over 170 million litres of PMS in stock at some NNPC Depots across the country following their successful rehabilitation along with connecting pipelines to forestall dependence on private sector depots.


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