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NNPC: Refineries Rehabilitation Aimed At Reducing Forex Demand

The Nigerian National Petroleum Corporation (NNPC) says ongoing efforts at rehabilitation of the nation’s refineries was aimed at reducing importation of petroleum products and demand for foreign exchange in the country.

Group Managing Director of the Corporation Dr. Maikanti Baru who was represented by the Chief Operating Officer, Refineries and Petrochemicals, Engr. Anibo Kragha, stated this during the NNPC Special Day at the 30th Enugu International Trade Fair.

Dr. Baru assured that the present zero queues in the country would be sustained, especially as Easter festivities approaches, adding that no fewer than 55 depots across the country were fully stocked with petrol. He explained that 23 depots in Lagos, seven in Port Harcourt, 11 in Warri, six in Calabar and eight in Kaduna, were stocked with petrol.

He noted that the theme of the fair, “Promoting and Enhancing Value Addition in the Oil and Non-oil Economy for Robust Economic Development”, was in sync with NNPC’s vision of adding value to the nation’s hydrocarbon resources for the benefit of all Nigerians. The GMD stated that as Industry leader, the major focus of the corporation was value addition in all its activities which he said had helped to ensure maximum benefit to all its stakeholders.

He reiterated the need to protect the corporation’s facilities, especially the pipelines, saying the corporation recorded 257 vandalised points in December 2018 alone, with Ibadan- Ilorin axis accounting for 34 percent of the total.

 

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