CLARA NWACHUKWU

Indigenous integrated downstream operator, the Nigerian Independent Petroleum Company, NIPCO Plc, has reassured oil marketers across the country of continuous availability of petroleum products at its fuel depot.

The company with a massive storage facility of over 60m liters at its Apapa Terminal in Lagos, said conscious efforts are being made to maintain its vision of being the first choice enterprise in the oil and gas industry to all stakeholders.

The company’s Manager, Corporate Affairs, Mr. Lawal Taofeek, in a statement last week, said, NIPCO has put in place concrete steps to ensure that it remains wet at all times in the overall interest customers who has remained of loyal over the past seven years.

“The assurance of good supply of petroleum product is in fulfillment of the pledge of the company to its esteemed shareholders at the recently concluded Annual General Meeting held in Abuja, majority of whom are indigenous fuel marketers.

The company floated by over a thousand independent fuel marketers under the aegis of Independent Petroleum Marketers of Nigeria, IPMAN, with the support of a core investor-Purebond Limited, United Kingdom, has remained a major supplier of petroleum products to over 80 percent of service stations across the country.

Over the years, the company has relied mainly on two streams of supply chain, namely: allocation of products from the Pipelines and Products Marketing Company, PPMC, as a depot operator and through direct importation as one of the key players in the sector.

The statement also added that the desire to meet the dreams of the promoters of the company, who are largely indigenous fuel marketers has been the driving force of the organization, “hence our quest to go the extra mile to meet their supply needs in the downstream sector of the nation’s oil and gas industry.”

It further said that in the past few years, conscious efforts have been made to augment direct supplies from PPMC as a reliable and tested depot operator with massive importation of Premium Motor Spirit, PMS, or Petrol and Automotive Gas Oil, AGO/diesel.

Going forward, NIPCO said it intends to enhance products importation to meet customers’ needs as well as prepare adequately for the upcoming reforms in the oil and gas industry.

“It is against the foregoing that we re- assure all stakeholders especially the independent fuel marketers that their interest in the realm of uninterrupted product supplies and meaningful reforms on investment as shareholders is guaranteed.”