Nigerian National Petroleum Corporation (NNPC) has announced its readiness to build more depots across the Country.
NNPC Group Managing Director, Dr. Maikanti Baru who disclosed this Monday in Abuja while inaugurating the board of one of its downstream Companies, NNPC Retail limited, said the addition to the corporation’s existing 23 depots nationwide would ease products supply and distribution in the country.
Dr. Baru who charged the members of the board to expand the company’s market share from 13 to 30 per cent said building more depots by the corporation was more feasible than acquiring dormant ones.
He lauded NNPC Retail for its strong intervention to wet the market at a time when other downstream players were playing underhand games to create artificial scarcity.
The GMD tasked the board to aggressively see to the expansion of the NNPC Retail beyond the shores of Nigeria, adding: “By mid-2019, you should be having plans to go into the sub-region, this board should propel NNPC Retail into a new height’’.
On diversification and backward integration, the GMD directed the company to venture into lubricants production, marine and industrial services to boost its revenue profile as it was an line with our quest as an integrated oil company
Responding, Chairman of the board and Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, said as an NNPC-owned company, the watch word for NNPC Retail should be “efficiency and profitability, especially in a downstream system like ours that is highly competitive”.
He pledged the commitment of the board and management of the company to the attainment of the goals of the corporation.
Managing Director of the Company, Mr. Yemi Adetunji, expressed delight that the GMD had reinforced the vision of the company to expand beyond the shores of Nigeria, adding that the targets were achievable especially with the support of the board and management of the company.
Other members of the board include: Engineer Henry Ikem Obih, Chief Operating Officer (COO), Downstream, as alternate Chairman; COO, Refineries, Engr. Anibo Kragha; GGM, Shipping, Hajia Aisha Ahmadu Katagun; Mr. Yemi Adetunji and some other top Management Staff.
Mrs. Obioma Agbambo, Company Secretary and Legal Adviser, NNPC Retail, will serve as Secretary to the board.
India has sought the help of the Nigerian and Benin natives to find an oil tanker that has gone missing with 22 Indian crew members off Benin’s coast. External Affairs Minister, Sushma Swaraj, confirmed this on Sunday that the tanker, Marine Express, went missing in the Gulf of Guinea. It’s not known whether the ship was hijacked for ransom or to steal the nearly 13,500 tonnes (15,120 tons) of gasoline on board. The ship, owned by a Mumbai company, has been missing since January 31 with no contact with the crew so far, according to Indian media reports. In January, another oil tanker, MT Barret, went missing off the coast of the West African nation of Benin. That crew of 22, mostly Indians, was released within days after a ransom was paid to the pirates, the Press Trust of India news agency said. It didn’t give any details according to Bloomberg survey. Ship hijackings and kidnappings of crew are common in the region, with hostages ofte…
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The NNPC Properties Ltd (NPL), the real estate management company of the NNPC, has commenced the recovery of the corporation’s landed property worth N100b across the nation.This was disclosed by the NNPC Chief Operating Officer (COO) Ventures, Dr. Babatunde Victor Adeniran, at the maiden edition of NPL Property Festival which held today at the NNPC Towers, Abuja.Dr. Adeniran stressed that the focus of the NNPC Properties Ltd had shifted from the initial lease administration of collecting rents from tenants of the NNPC Properties to ‘’exploring all commercial opportunities available in the real estate market to efficiently position itself as one of the key players of repute that fits the NNPC brand’’.According to him, the current aggressive commercial drive by the NPL was yielding results as the company had recovered a number of the corporation’s landed property which had been lying idle across the country.He listed some of the recovered property to include: a 92-hectre parcel of land …